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The PepeCoin price surged more than 9% in the last 24 hours to trade at $2.99 as of 7:30 a.m. EST as investors rush to buy the meme coin.
This recent gain has nudged the crypto’s weekly performance deeper into the green zone. As a result, the PEPECOIN price is up over 13% in the last 7 days.
The PepeCoin Price Attempting To Overcome A Major Resistance Level
4-hour chart for PEPECOIN/USD (Source: GeckoTerminal)
A positive trend line has emerged on the 4-hour chart for the PepeCoin price, which is now attempting to overcome the major resistance level at $3.007. Overcoming this threshold in the next 8 hours could give the crypto the technical foundation needed to rise to as high as $3.3563 in the short term.
On the other hand, PEPECOIN getting rejected by the $3.007 mark might invalidate the bullish thesis. In this alternative scenario, the meme coin could be at risk of dropping to the immediate support level at $2.5785 in the following 48 hours. Continued sell pressure should the PepeCoin price fall to this technical safety net might then see PEPECOIN plunge to $2.2026.
Technicals Warn The PepeCoin Price Is Losing Its Bullish Strength
Technical indicators on PEPECOIN’s 4-hour chart show that the meme coin is starting to lose some of its bullish strength. More specifically, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators show that the crypto’s momentum is starting to cool off.
As the PepeCoin price approaches the $3.007 resistance, the RSI line has started to level off above 74. RSI readings above 50 are generally seen as a sign of buyer dominance.
However, PEPECOIN’s current RSI value might also be seen as a sell signal because it suggests the crypto’s downside potential is greater than its upside potential. The recent leveling off of the RSI could therefore be an early sign of an upcoming bearish trend reversal.
Meanwhile, the MACD Histogram, which measures the distance between the MACD and MACD Signal lines, has also started to level off as well. Traders might see this as an indication that PEPECOIN’s bullish trend is approaching its end.
Until PEPECOIN clears that $3.007 resistance level, traders and investors might consider diversifying into the layer-2 meme coin Pepe Unchained (PEPU).
Influential YouTuber Jacob Crypto Bury anticipates significant growth ahead for PEPU and recently told his 41k subscribers to ”Get in Now!”
Giving PEPE A Major Upgrade
Pepe Unchained (PEPU) is looking to free the popular PEPE meme coin from the scalability limitations of the Ethereum network.
To achieve this, the project will launch its own layer-2 network, which will enable transaction speeds that are 100 times faster than that of Ethereum. Token holders will be able to enjoy much lower transaction fees as well.
The project also offers a seamless bridging solution, allowing investors to shift their value between Ethereum and the Pepe Unchained network with ease.
Investors Bet Big On PEPU
More than $3.9 million has been sent to Pepe Unchained’s presale so far, signaling strong investor confidence in the project’s future.
Apart from its layer-2 network and drive to enhance PEPE, another possible factor behind this investor frenzy could be the 482% APY Pepe Unchained is offering anyone who buys the meme coin at this early stage.
Breaking News!
Pepe is set to launch his own Layer 2 blockchain! Exciting times ahead 🐸⛓️ pic.twitter.com/d9nXoQZ2dA
— Pepe Unchained (@pepe_unchained) July 16, 2024
To become eligible for these rewards, investors can utilize the simple buy widget embedded on the project’s official website to acquire the token.
Selling for $0.0084598, PEPU can be bought using either ETH, USDT, BNB or bank card. Those interested to buy should act quickly though because there will be a price hike in less than 8 hours.
Purchase and stake PEPU here for up to 482% in annual rewards.
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