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The Pepe price dropped 8% in the last 24 hours to trade at $0.00000706 as of 00:25 a.m. EST on trading volume that plunged 12% to $2.67 billion.
This comes as Pepe ranks third among top-performing meme coins after surging 110% in the last seven days.
Pepe Price Bulls Remain Resilient As They Sustain The Bullish Momentum
The Pepe bulls have been resilient in March, rallying the price to a new all-time high at $0.00000873, which marked the immediate resistance. The bears have taken control of the price after this threshold, forming an inverse head-and-shoulders pattern as the price aims for a breakout.
PEPE is currently trading slightly above the 200-day Simple Moving Average (SMA) on the 30-minute chart, which is a confirmation of the sustained bullish momentum. If the bulls continue rallying the price, they will eventually overcome the 50-day SMA hurdle.
Additionally, the Relative Strength Index (RSI) is showing clear signs of a rebound, pushing toward the north from the oversold region at 37.
Moreover, the Moving Average Convergence Divergence (MACD) supports the slight retrace, as the moving average line (blue) crosses slightly below the signal line (orange), but with signs of a rebound. The red bars on the histogram also support the looming reversal as they diminish heading towards the zero line.
Additionally, the Average Directional Index (ADX) supports the growing bullish trend as it moves north at level 29.
Pepe Price Prediction
All the Pepe price indicators show a looming bullish rally, with the RSI and ADX showing continued optimism among traders as they add their positions. The enhanced buying pressure could see Pepe soar above the neckline established at $0.00000833, as they aim for prices over $0.000010.
Other analysts are also in support of the bullish stance, predicting a rally to $0.000010.
However, the MACD is still below the zero line as it trends downward. If the bears sustain this movement, it could see the price retrace back to the support zone at $0.00000501, acting as a cushion against downward pressure.
Meanwhile, investors looking for an alternative meme coin for fast gains are buying PEEN coin, a token in its early stages that some analysts say might 100X on launch.
PEEN Coin: A New Meme Coin To Watch
PEEN token, a new meme coin listed on the Uniswap decentralized exchange (DEX), has surged in price, seeing a 38% increase in the last 24 hours.
As meme coins create a frenzy in the crypto market, investors are also seeing PEEN as the latest target in the hunt for the next Shiba Inu.
The token combines male-organ-focused imagery and crude humor, and says its aim is to be the “baddest” meme coin in the market.
CUM TOGETHER!! 🙏
ALL YOU NEED IS $PEEN#MemeCoin #Alts #AltSeason #Altcoins #Crypto #Presale #PEEN #PEPE pic.twitter.com/niqWiXr0vI
— PEENTOKEN (@PEENTOKEN) March 5, 2024
PEEN is a project inspired by Seth from Superbad, with an inclination for phallic imagery.
As the crypto market prepares for the halving event coming in April, Bitcoin is rallying towards a new all-time high, and therefore a thirst for risk is growing in the meme coin category.
Buy $PEEN, Potential 100X Gains
Based on goals outlined in its whitepaper, Peen aims to penetrate the market fully and build a $100 million market cap. If this were achieved, it would mean a 100X increase from its current $901,000 market cap.
Learn more about Peen and buy the token here.
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