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The Pepe price surged 9% in the last 24 hours to trade at $0.00001198 as of 00:47 a.m. EST on trading volume that skyrocketed 40% to $504 million.
This comes as the crytpo market rebounds with a 3% increase in its market capitalization to $2.33 trillion. The meme coin sector’s market cap surged 7% to $49 billion, with the top two meme tokens, SHIB and DOGE, each up 4%.
Pepe Price To Rally Over The Descending Triangle
The Pepe price has been on a tear since the beginning of May, rising through a markup phase to an all-time high of $0.00001717, data from GeckoTerminal shows. However, the bulls have not been able to reclaim this high, as the price of Pepe turned bearish, driving the token through a descending triangle pattern.
Eventually, the wedge has narrowed, with investors staging a breakout above the horizontal support line. PEPE now trades within the upper boundary of the descending triangle.
PEPE price is trading above the 50-day Simple Moving Average (SMA), affirming the incoming rally in the coming weeks. However, the 200-day SMA acts as the immediate resistance level around $0.00001272.
Moreover, the Relative Strength Index (RSI) is rebounding from the 30-oversold level as it soars past the 50-midline level. With the RSI trading around level 54, PEPE seems to be in equilibrium, which could help the bulls rally the token above.
The Moving Average Convergence Divergence (MACD) is also bullish, with the MACD line (blue) crossing above the signal line (orange), an indication of the bullish crossover. As the green bars start forming above the neutral line, the price of Pepe could be gearing up for a massive surge, as they indicate a current positive momentum.
Pepe Price Prediction
According to the Pepe price analysis, the bulls may be rebounding from the descending triangle, as investors capitalize on the RSI and MACD to buy more. In this scenario, the bulls may push the token upwards towards a new ATH at $0.00001841.
Conversely, if the bears take control of the price at this level, the price of Pepe could retrace back to the $0.00001044 support level, which acts as a cushion against downward pressure.
As the Pepe price soars, PEPE lovers are also buying a new Pepe upgrade called Pepe Unchained (PEPU), which has raised over $1.7 million in its presale.
Pepe Unchained Presale Blasts Past $1.7 Million – Best PEPE Alternative To Buy Now?
Pepe Unchained aims to follow in the footsteps of PEPE, which continues to rule the meme coin rankings along with DOGE and SHIB.
But PEPE is built on the Ethereum blockchain, which is mostly handicapped by network delays and rising gas fees.
Pepe Unchained (PEPU) stands out from other meme coins by introducing its native Layer 2 chain on top of Ethereum’s network. This move not only liberates it from Ethereum’s limitations but also brings unprecedented speed, scalability, and significantly lower fees.
Who needs some Brain Powder?
Pepe is gearing up for the official launch of his very own blockchain! 🚀 pic.twitter.com/kZC72UmxFy
— Pepe Unchained (@pepe_unchained) June 20, 2024
As a result, Pepe Unchained enables investors to seize market opportunities with greater efficiency.
Token holders can also earn passively through the platform’s staking system, which offers an annual percentage yield (APY) of 1,162%.
99Bitcoins, a prominent crypto channel on YouTube, says $PEPU is one of the best cryptos to buy now with 100x potential.
You can buy $PEPU tokens for $0.0081939 each. With a price hike coming in less than two days, buy soon to lock in the best deal.
To join the presale, buy $PEPU from the official website here using ETH, USDT, or a bank card.
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