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The Pepe price soared over 26% in the past 24 hours to trade at $0.00001231 as of 12:00 a.m. EST as investors go long on the frog-themed meme coin.
With this recent gain, the PEPE price is in the green by more than 29% on the weekly timeframe as well.
The Pepe Price Clears A Major Resistance
4-hour chart for PEPE/USD (Source: GeckoTerminal)
The Pepe price rose above the major resistance level at $0.00001093 over the past 24 hours, and is attempting to overcome the subsequent barrier at $0.00001421. Should PEPE close a 4-hour candle above this mark within the next 24 hours, the meme coin could have the technical support needed to keep climbing in the short term.
However, the Pepe price falling below the recently-breached $0.00001093 level might invalidate the bullish thesis. In this alternative scenario, the crypto could be at risk of dropping to $0.00000783. An extremely bearish situation might lead to PEPE plunging to as low as $0.00000567,
The Pepe Price Is Showing A Lot Of Technical Strength
Technical indicators on PEPE’s 4-hour chart suggest the meme coin could keep climbing in the next 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing positive signs.
Prior to the Pepe price breaking $0.00001093, the MACD line crossed above the MACD Signal line. Traders usually see this technical event as a sign that a crypto has entered a short-term bullish trend. This positive technical flag seems to have been validated given the strong price movement by PEPE shortly after the two lines intersected.
What’s more, the MACD line is breaking away above the MACD Signal line. This could be a sign of PEPE’s bullish momentum growing stronger, which might subsequently lead to the Pepe price continuing its climb.
RSI readings have also risen substantially throughout the past trading day. Currently above 80, this indicator suggests PEPE has a lot of bullish strength.
Traders will, however, want to keep an eye on the RSI because it also warns that the meme coin is overbought. This might be seen as a sell signal because PEPE’s downside potential is currently greater than its upside potential.
With the Pepe price showing substantial technical strength, the layer-2 meme coin Pepe Unchained (PEPU) is nicely placed to benefit.
A PEPE That Is Not Held Back By Ethereum’s Limitations
Ethereum has become a popular choice among developers to deploy their new tokens given the blockchain’s reputation in the Web3 space. Many meme coins, including PEPE, call Ethereum home. However, the network’s popularity has made it congested. This has led to scalability problems, resulting in slow transaction speeds and high network fees.
Pepe Unchained (PEPU) aims to introduce a new version of the beloved PEPE meme coin to the market that is not restricted by the Ethereum network’s shortcomings. To achieve this, the project will launch its own layer-2 network.
Not only will this upgraded PEPE come with transaction speeds that are 100 times faster than that of Ethereum, it will also include much lowernetwork fees. Token holders will, however, still be able to seamlessly bridge their assets between the Ethereum and Pepe Unchained networks.
This gives investors the best of both worlds, enabling them to enjoy Pepe Unchained’s lightning-quick speeds and Ethereum’s proven security.
In a recent video, renowned YouTuber Jacob Crypto Bury said PEPU has the potential to explode by 100x after launch.
Early Investors Gain Access To High Rewards
In addition to PEPU’s speculative potential, there is also a 503% APY being offered to anyone who purchases the meme coin during its ongoing ICO phase. This could be one of the reasons the project has managed to raise over $3.7 million through its presale so far.
To get access to these rewards, investors can utilize the simple buy widget embedded on Pepe Unchained’s website to acquire the token. Selling for $0.0084598, the token can be bought using either ETH, USDT, BNB or bank card. Once purchased, the PEPU tokens need to be locked up via the website’s staking page.
It's time to cross over!
Join us on the other side with Pepe's Layer 2 blockchain. Exciting new adventures await! 🐸🐸 pic.twitter.com/jX7pZDJNYI
— Pepe Unchained (@pepe_unchained) July 15, 2024
Investors will want to hurry because the meme coin’s price is scheduled to increase in less than two days.
Purchase and stake PEPU here before its price increases.
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