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The PepeFork price has surged 34% in the last 24 hours to trade at $0.000000181 as of 7:30 p.m. EST on a 593% surge in trading volume to $9.3 million.
PORK calls itself a spin-off of the Ethereum-based meme token Pepe (PEPE), the third-largest meme coin with a market capitalization of about $5 billion.
PepeFork Price Rebounds Despite Bearish Pressure
The PORK price recently surged above the 50 and 200 simple moving averages (SMA), indicating a shift in upward momentum. However, it has since slipped back below the 200 SMA as bears push the price towards the upper trendline of the falling channel, according to GeckoTerminal.
Despite the bears pushing the price down to the $0.0000001286 support zone, bulls have shown resilience and regained momentum to drive the price up. This support zone has given the bulls the boost needed to drive the price above the falling channel pattern.
PORKUSDT Analysis(Source: Tradingview)
The Relative Strength Index (RSI) is currently above the 50 midline. After a sharp rise from 42 into the overbought zone, the RSI has now dropped to 60, just below the 70 overbought level. This provides bulls with an opportunity to push the price back into the overbought zone, indicating strong buying pressure.
The MACD (Moving Average Convergence Divergence) indicator also signals a bullish trend, with the blue average line crossing above the orange signal line at the neutral level, indicating a shift towards bullish momentum. However, the histogram bars show negative momentum, suggesting that some bearish pressure remains.
PepeFork Price: Can The Bulls Sustain The Momentum?
The bullish moving averages have allowed the bulls to push the price back above the falling channel, targeting the previous high of $0.0000003007. Moreover, the price has been retracted to test the channel’s upper trendline. A rebound on this level could propel the price to a high of $0.0000003315 in the coming weeks.
On the downside, if the bears take control, the price could drop to the $0.0000009474 support zone within the falling channel. A breach below this level could decrease the price to the $0.00000001286 support zone.
New P2E Game Raises Approaches $4.5 Million In Presale
Investors looking to diversify their portfolios into other coins with bullish outlooks might consider PlayDoge, which has rocketed past $4.4 million in funds raised in about 18 days since it went live.
PlayDoge is an innovative mobile-based Play-to-Earn (P2E) game that makes the iconic DOGE meme interactive, turning it into a Tamagotchi-style virtual pet that allows players to earn $PLAY tokens while they play.
PlayDoge ($PLAY) is a new cryptocurrency that has taken the market by storm after raising $4 million in its opening three weeks of presale.
This milestone comes as the team launches staking on Ethereum, in addition to its original staking on BNB Smart Chain.
The latter remain… pic.twitter.com/oaHDgckAGr— Parrot Coin (@parrot_coins) June 13, 2024
The project’s P2E strategy encourages players to care for their pets and take them on adventurous quests to earn rewards.
Introducing #PlayDoge – the only #P2E Doge companion! 🐶
Inspired by the legacy of #Tamagotchi, feed, train and play with your 2D Doge to earn $PLAY. 💰
Don't neglect your doge, his life's on the line 😲💀
Join the #Presale Now ⬇️https://t.co/JT0VEofqf2 pic.twitter.com/RoJYXLS1FH
— PlayDoge (@PlayDogeGame) June 3, 2024
In addition to earning through P2E, investors can earn passively by staking their tokens, with PlayDoge offering an 185% annual return.
Crypto analyst and YouTuber Jacob Bury says that $PLAY could potentially surge 10X after its launch.
If you’re interested to buy $PLAY, its tokens are currently priced at $0.00508. But hurry as this rate will increase in about 26 hours.
Visit the PLAY website to buy tokens with ETH, USDT, or a bank card.
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