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The Purple Pepe price has slumped 14% in the last 24 hours to trade at $0.0001692 as of 9:20 a.m. EST on a 63% plunge in trading volume to $5.4 million.
The recent decline in the PURPE price made Purple Pepe the top losing major meme coin by market capitalization, according to CoinGecko.
PURPE Price Surges as Bullish Signals Strengthen
The PURPE/USD chart on the 4-hour timeframe signals a potential bullish reversal following a period of price consolidation. The current price trades at $0.0001692, with a key support level at $0.00009077. This support zone, highlighted in orange, has proven strong, as the price bounced off it multiple times, indicating buyer interest.
The recent rally pushed the price to a high of $0.0001731, with the next resistance near $0.0001928. A decisive breakout above this level could trigger further upward movement toward the psychological target of $0.0002500.
PURPE/USD Analysis Source: Dextools.io
The 50 Moving Average (MA) at $0.00010928 has been surpassed, marking a clear bullish signal as the price continues to trend upward. This indicates that the short-term momentum favors buyers, as the 50 MA often acts as a dynamic support level during uptrends.
Meanwhile, the 200 MA at $0.00009077 aligns with the critical support zone, reinforcing its importance as a strong price floor.
PURPE Price Bullish Technicals Signal An Uptrend Ahead
The MACD indicator further confirms the growing bullish momentum. The MACD line at 0.00002059 has crossed decisively above the signal line at 0.00001651, signaling a bullish crossover. The increasing divergence between the two lines suggests that buying momentum is gaining strength, and the uptrend is likely to continue in the near term.
The Relative Strength Index (RSI) is currently at 65.34, indicating robust buying pressure. This value reflects bullish sentiment in the market while remaining below the overbought threshold of 70, leaving room for further upside before the price becomes overheated. If the RSI climbs closer to 70, traders should remain cautious, as the asset could become overbought and experience a temporary pullback.
PURPE’s price has shown a strong reversal upward from the well-tested support zone at $0.00009077 and is currently approaching key resistance levels. Sustaining above the 50 SMA will be crucial for maintaining bullish momentum, as it could act as a launchpad for further gains.
A successful retest and breakout above the $0.0001928 resistance would confirm a continuation of the uptrend and open the door for PURPE to rally toward the next major psychological level, $0.0002500.
Wall Street Pepe Presale Closes On $23 Million
Meanwhile, investors are flocking to buy a newly launched meme coin called Wall Street Pepe ($WEPE), which has already raised over $22.5 million in its presale – and more than $2.5 million of that in the last 24 hours alone.
Prominent crypto analyst and YouTuber Austin Hilton, who boasts 295K subscribers, predicts that WEPE will “revolutionize the crypto space.”
Wall Street Pepe is on a mission to empower small traders by offering exclusive market insights, trading tips, and strategies. It will provide advanced tools and resources to enhance trading knowledge and skills.
The fast-growing WEPE Army members gain exclusive access to professional-level market insights and expert trading recommendations, creating a unique and supportive trading environment.
$20M raised. It's memecoin season.
Wepe army leading the way fr. 🐸⚔️ pic.twitter.com/QZbKbBhclM
— Wall Street Pepe (@WEPEToken) December 14, 2024
In addition to joining this elite community, $WEPE token holders can earn passive income through its staking feature, which offers a stellar 53% annual percentage yield (APY).
Currently, $WEPE tokens are available at $0.0003642 on the project’s official website, with purchases supported with ETH, USDT, or bank cards.
With the price set to increase in about 17 hours, and sooner if the stage sells out, interested investors should act soon to lock in the best deal.
Buy WEPE tokens here before the next price hike.
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