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The Pepe price surged over 10% in the last 24 hours to trade at $0.00002199 as of 12:20 a.m. EST as investors rush to re-accumulate the crypto.
The PEPE price increase comes as almost all of the other top meme coins printed losses in the past 24 hours. Dogecoin (DOGE), the largest meme coin by market cap, tumbled more than 1%, and Shiba Inu (SHIB) slumped more than 2%. Dogwifhat (WIF) managed a slight gain during the same time period.
Top meme coins by market cap (Source: CoinMarketCap)
The Pepe Price Challenging Major Resistance
4-hour chart for PEPE/USD (Source: GeckoTerminal)
The Pepe price is attempting to overcome the resistance level at $0.00001278. If it is able to close a 4-hour candle above this threshold within the coming 12 hours, the meme coin might have the technical foundation needed to keep climbing in the following 24 hours.
Traders could subsequently look to enter into a long position for PEPE, which might push the altcoin’s price to the next major resistance level at $0.00001528. Continued buy pressure should the Pepe price reach this point could then lead to the crypto rising to as high as $0.00001887 in the short term.
On the other hand, a rejection from the $0.00001278 mark in the upcoming 12 hours might invalidate the bullish thesis. In this alternative scenario, the meme coin could be at risk of testing the immediate support level at $0.00000941. PEPE might even fall to $0.00000745 if sellers continue to exert pressure on the altcoin’s price.
Technicals Suggest The Pepe Price Might Keep Climbing
Technical indicators on PEPE’s 4-hour chart suggest the crypto’s positive move is not over yet. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators are flagging bullish.
In the past 24 hours, the MACD line rebounded off of the MACD Signal line. This suggests that buyers were able to enter the meme coin’s charts just in time to prevent the crypto from entering into a bearish phase.
Following this rebound, the Pepe Price started to rise as the MACD line began breaking away above the MACD Signal line as well. The growing gap between the two technical indicators could suggest that PEPE’s bullish momentum is intensifying.
Buyers also seem to be gaining strength against sellers, as signaled by the rising RSI value. Although the RSI is still bearishly below 50, the positive slope of the technical indicator might be an early sign of bulls stealing the advantage from bears. The RSI breaking above 50 in the coming 24 hours could signal the continuation of PEPE’s positive move.
As Pepe tries to break above major resistance, investors are flocking to PlayDoge (PLAY) as its presale nears the $4 million milestone.
Reviving A Gaming Classic
PlayDoge is a Tamagotchi-style play-to-earn crypto project that is looking to bring back a gaming classic. In the 90s, the Tamagotchi games were a hit, but they offered players a limited experience and the virtual pets would inevitably die after a short while.
Through the use of blockchain and crypto technology, PlayDoge will introduce a more modern version of the once-popular game that also rewards players with PLAY tokens. By feeding, entertaining, training and ensuring their virtual pets get enough sleep, players can grow their earnings.
What’s more, PlayDoge will be compatible with mobile technology as well, allowing users to interact with their characters on the go.
In a recent YouTube video, Cilinix Crypto analyzed the meme coin and said it has potential, especially for investors who buy it early.
Riding The Meme Coin Hype
PlayDoge takes advantage of the iconic Doge meme, which has inspired six of today’s ten biggest meme coins. This, combined with the growing interest in blockchain gaming projects, has managed to pull investors in.
Millions of dollars have already been sent to PLAY’s ICO, with the presale on the verge of surpassing the $4 million milestone. As investors continue to accumulate the new meme coin, there is still time to purchase PLAY at this early stage.
Selling for $0.00506, PLAY can be bought using either ETH, BNB, USDT or a bank card using the simple buy widget embedded on the project’s official website.
Anyone looking to acquire the token should act fast because its price is scheduled to increase in about five hours.
Once purchased, PLAY tokens can also be staked for up to 259% in annual rewards.
Purchase and stake PLAY here before its price increases.
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