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The PepeCoin price has surged 15% in the last 24 hours to trade at $2.56 as of 3:20 a.m. EST on a 23% pump in trading volume to $4.6 million.
This price surge made PepeCoin the top gainer among the biggest cryptos by market capitalization, ahead of Baby Doge Coin, Dogs, and Turbo, according to CoinMarketCap.
PepeCoin Price Surges As Parabolic Curve Signals Bullish Momentum
The PepeCoin price shows a strong bullish trend, characterized by a parabolic curve that has driven the price to approximately $2.59. This rapid upward movement broke through a key resistance level of around $2.40 and continues to surge, placing the price in what can be considered a reward zone.
Parabolic price curves like this often indicate aggressive buying momentum, though they can also signal an upcoming correction once the momentum subsides.
PEPECOINUSDT Analysis Source: Dextools.io
The price has moved well above the 50-day simple moving average (SMA) at $2.3244 and the 200-day SMA at $2.2689, indicating that the short-term trend is strongly bullish. The 50-day SMA is above the 200-day SMA, confirming the positive outlook.
This alignment of moving averages typically supports continued upward movement, reflecting sustained buying interest.
The MACD indicator also signals strong momentum, with the MACD line at 0.083 surpassing the signal line at 0.054. This positive divergence between the two lines and the widening histogram indicates an ongoing bullish phase.
However, the RSI is currently at 77.71, showing that PepeCoin is in overbought territory. An RSI above 70 often shows that the asset may be due for a pullback or consolidation in the near term, as overbought conditions tend to precede corrective moves.
PepeCoin Price May Face A Short-Term Correction
The price of PEPECOIN could continue to rise and potentially test the next resistance level at around $2.70. However, the overbought RSI and the parabolic nature of the recent price action indicate that a correction or consolidation could occur soon.
If a pullback happens, the previous resistance level around $2.40 will likely serve as a support zone. Additionally, the 50-day SMA at $2.32 further supports a deeper correction.
While the current trend is strongly bullish, a near-term retracement is likely.
Layer 2 Meme Coin Pepe Unchained Rockets Past $13.5 Million
The bullish enthusiasm shown by PEPECOIN traders is also found around the PEPE derivative presale Pepe Unchained (PEPU), which has rocketed past $13.5 million in funds raised in its blockbuster ICO, one of the most successful this year.
Crypto analyst and YouTuber Jacob Bury, who has over 43,000 subscribers, has identified $PEPU as one of the top five meme coins to invest in this year, and says it has the potential to 10x after its launch.
Pepe Unchained positions itself as a big upgrade on the OG PEPE coin. It acts as a Layer 2 solution for Pepe and features its own block explorer and strong social media presence. Most notably, it comes with its own proprietary blockchain.
PEPU is the first Pepe token on a Layer-2 blockchain and comes with multiple advantages, including seamless Ethereum bridging for easy integration with decentralized applications (dApps) and smooth transfers. It also has low transaction fees, making it accessible to many investors.
Pepe Unchained — Groundbreaking Layer 2 Blockchain technology.
Welcome to the future of meme coins. 🐸 pic.twitter.com/iC9b6YSynT
— Pepe Unchained (@pepe_unchained) September 6, 2024
You can participate in a staking option that offers an annual percentage yield (APY) of 152% once you buy $PEPU tokens. Over 1.05 billion $PEPU tokens are already staked.
The project team is teasing an imminent launch on X, saying ”It’s almost go time.” If you are interested in the project, you can buy $PEPU tokens at the current price of $0.0097284. Hurry, though, before a price hike in a little more than 4 hours.
Buy PEPU tokens on the official website here using ETH, USDT, or a bank card.
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