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The Pepe price has soared more than 28% in a month after climbing 1% in the last 24 hours to trade at $0.000009358 as of 11:32 p.m. EST.
Following the strong monthly performance, the PEPE price is in the green by an impressive 1,355% over the last year.
The Pepe Price Breaking Out Of A Bearish Channel
4-hour chart for PEPE/USD (Source: GeckoTerminal)
The Pepe price was able to crawl out of a descending price channel in the last couple of hours. As a result, the meme coin is now attempting to overcome the resistance level at $0.000009905. A break above this mark could set the crypto’s price up for a continued rise to the next major mark at $0.000010878.
On the other hand, the Pepe price failing to maintain a position outside of the descending price channel for the next 12 hours could prevent any bullish move from taking place in the short term.
In a more bearish scenario, PEPE might end up dropping back within the negative channel. This could also lead to it losing the immediate support level at $0.000008972, which might result in sellers pushing the meme coin’s value down to as low as $0.000008294 within the following 48 hours.
Buyers Slowly Chipping Away At Sellers’ Control Over The Pepe Price
From a technical standpoint, sellers seem to maintain control. However, there are some signs that bulls are trying to take back the advantage. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are starting to show positive signs.
Throughout the past trading day, the MACD line has been bearishly positioned below the MACD Signal line to suggest the Pepe price is in a negative cycle. In the last few hours, the MACD line has started to rise towards the MACD Signal line. An intersection between these two technical indicators could signal that PEPE’s bearish phase has come to an end.
RSI readings have also gradually risen in the last few hours, with the RSI line still positively sloped. Although the indicator’s current reading is below the 50 benchmark to suggest that sellers have the upper hand, the recent increase in RSI values could be an early sign of an impending shift in power.
While the Pepe price attempts to overcome the bearish pressure on its charts, layer-2 alternative Pepe Unchained (PEPU) is displaying seemingly unstoppable momentum in its blockbuster presale.
No More High Network Fees And Slow Processing Times For PEPE
PEPE has climbed the crypto ranks to become the third largest meme coin by market cap. However, its potential to continue soaring has reached a roadblock due to the high fees and slow processing times of the congested Ethereum network.
With its layer-2 chain, Pepe Unchained (PEPU) will pull the popular frog-themed token out of the over populated Ethereum layer-1 mainnet and transport it to a new and more scalable era.
Backers of the meme coin will subsequently gain access to a 100-fold increase in transaction speeds. They will also be able to send and receive crypto at a fraction of the current cost.
In a recent video, YouTuber Austin Hilton told his 275K subscribers that Pepe Unchained is the biggest meme coin presale launch ever.
Perhaps what has experts excited about the meme coin is the high levels of utility that it will introduce to the meme coin sector. Once the project has successfully scaled PEPE, it will broaden its reach to enhance the rest of the tokens in the meme coin space.
In addition to its layer-2 capabilities, Pepe Unchained has also launched its developer grant program. Through this initiative, the project will fund the development of several decentralized applications (dApps) on its network.
PEPU’s ICO Flourishes As Investors Bet Big On The Project’s Future
Pepe Unchained has raised more than $18.6 million in its ICO so far. With the bullish outlook from experts combined with the project’s speculative potential and unmatched utility in the meme coin space, it’s easy to see why investors are excited about PEPU. Whales have also been scooping up the meme coin.
And with that, Pepe Unchained reaches $18.5M raised.
The community is STRONG. The tech is STRONG. And we're gaining new ground everyday. 💪 pic.twitter.com/kEzq8lVIge
— Pepe Unchained (@pepe_unchained) October 10, 2024
Anyone that wants to purchase the token can do so via the simple buy widget embedded on the project’s website. Selling for $0.00996, ETH, USDT, BNB or bank card can be used to acquire PEPU.
Once purchased, the PEPU tokens can also be staked for the 117% APY on offer to investors at this early stage. For the best deal, buy before a price hike in less than 2 days.
Purchase PEPU on the official website here.
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