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The Pepe price has soared more than 11% over the past 7 days following a 2% drop in the past 24 hours to trade at $0.00001268 as of 12:00 a.m. EST.
Despite the positive weekly performance, the PEPE price is still deeply in the red zone over the past month with a 20% slump.
Still, crypto analyst Bluntz told his 263.5k followers on X that Pepe is primed for a rally.
Liking $pepe here, can see a nice 5 wave rise and abc back down done.
one of the few alts to actually not get smoked and make new lows in yesterday/todays carnage. pic.twitter.com/3LB1EHOjPh
— Bluntz (@Bluntz_Capital) June 24, 2024
He sees PEPE embarking on a five-wave rise that would see it surge some 14% to $0.0000145.
The Pepe Price Starts To Consolidate
4-hour chart for PEPE/USD (Source: GeckoTerminal)
The Pepe price entered a consolidation phase between $0.00001179 and $0.00001364 over the past 24 hours. This period of sideways trading might be the precursor to a big move.
If bulls decide to pick up PEPE and push its price higher, they could attempt to flip the $0.00001364 resistance level into support. Thereafter, the meme coin might have the technical foundation needed to keep rising in the following couple of days. With enough buy pressure, the Pepe price could climb to as high as $0.00001550.
On the other hand, PEPE falling below the immediate support at $0.00001179 in the next 12 hours might invalidate the bullish thesis. In this alternative scenario, the meme coin stands the risk of plunging to the subsequent mark at $0.00000975 in the following 48 hours.
The Pepe Price Starts To Lose Some Of Its Bullish Strength
Technical indicators on PEPE’s 4-hour chart suggest the Pepe price might fall throughout the next trading day. More specifically, the Moving Average Convergence Divergence (MACD) indicator is on the verge of triggering a major bearish technical flag.
Over the past 24 hours, the MACD line has been collapsing towards the MACD Signal line. Traders generally see this as an indication that the short-term positive cycle a crypto has been in is nearing its end. Should the MACD line break below the MACD Signal line in the next few hours, it might suggest that PEPE has entered a bearish phase.
Meanwhile, the Relative Strength Index (RSI) is starting to level off in the low 60s. Although the indicator’s value is bullishly over 50, the leveling off of the RSI line might be an early sign of an upcoming bearish trend reversal.
If the RSI line starts to fall, bulls could be at risk of losing their current advantage against bears. As a result, it might be easier for sellers to pull the Pepe price down in the following couple of days than it will be for buyers to push it higher during the same period.
While PEPE attempts to escape consolidation, investors are rushing to get in on the staking yield offered by the presale token Pepe Unchained (PEPU).
Scalability, Speed And Low Fees All In One Meme Coin
Pepe Unchained (PEPU) is like no other meme coin because it comes with a native layer 2 network. Not only does this free it from the shackles of Ethereum, it also introduces unprecedented speed, scalability and extremely low fees.
With its own dedicated network, Pepe Unchained is poised to achieve transactions speeds 100 times faster than that of the majority of meme coins hosted on the Ethereum network. In addition to the accelerated transactional capability, Pepe Unchained’s layer 2 chain will also come with its own explorer.
Pepe Unchained’s entrance to the market comes at an opportune time, as transaction fees on Ethereum start to soar and the investor frenzy around meme coins continues.
Analysts are also bullish on the meme coin. In a recent video, renowned crypto YouTuber Jacob Bury told his 41.1k subscribers that Pepe Unchained could be the next 10x PEPE derivative.
Off To A Strong Start
Pepe Unchained entered the market with a bang, and raised $100,000 within just minutes of its presale going live. Investors are still rushing to buy the meme coin at this early stage, with its ICO total now just short of $1 million.
Beyond its speculative potential, Pepe Unchained’s team are also rewarding buyers at this early stage handsomely. Anyone who purchases the meme coin through its ongoing presale will gain access to a lucrative staking opportunity offering a 2,134% Annual Percentage Yield.
Who’s ready for the next stage of Pepe’s adventure? 🚀
A new dimension of Pepe has been unlocked! Join Pepe's Layer 2 now and experience the future. 🐸🧠 pic.twitter.com/8NGeDIdXUg
— Pepe Unchained (@pepe_unchained) June 26, 2024
To get in on this opportunity, investors can acquire the token through the simple buy widget embedded on the project’s official website. Selling for $0.0080964, PEPU can be bought using ETH, USDT, BNB or bank card.
Investors will want to hurry because the meme coin’s price is scheduled to increase in less than three days.
Purchase and stake PEPU here for up to 2,134% in annual rewards.
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