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The Pepe price plunged 13% in the last 24 hours to trade at $0.000008395 as of 00:40 a.m. EST on trading volume that surged 12% to $757 million.
This comes as the entire crypto market continues to drop, recording a 3% drop in the last 24 hours to a $2.04 trillion market capitalization.
Pepe Price Set For A Rebound Over The Falling Channel
The Pepe price has been on a downtrend after hitting an all-time high of $0.00001717 and hitting a market capitalization of $6.8 billion, according to data from GeckoTerminal.
The death cross around $0.0000129 allowed the bears to exert more pressure, pushing the price of Pepe along the falling channel pattern.
PEPE still trades below both the 50-day and 200-day Simple Moving Averages (SMAs), which confirms the sustained downtrend along the falling channel.
Moreover, the Relative Strength Index (RSI) is dropping as it hurtles toward the 30-oversold level. This is an indication that sellers continue to sell massively.
If the bears continue to sell, the price of Pepe may drop further to $0.000007233, which acts as a cushion against downward pressure.
However, with the RSI dropping towards the 30-oversold level, investors may start accumulating as the token is now highly undervalued. In a scenario where the bulls may prompt a buyback, the token may rebound over the channel, as the bulls target a new ATH at $0.0000173, after breaching the immediate resistance levels at $0.000001009 and $0.00001167.
Amid the crypto crash, some PEPE investors are pivoting to a new Pepe upgrade called Pepe Unchained (PEPU), which has raised over $2.7 million in funding in a little more than two weeks.
Pepe Unchained Raises Over $2.7 Million – Best PEPE Alternative To Buy Now?
Since its inception last year, Pepe has provided stratospheric returns for investors. Despite that, Pepe is built on the Ethereum blockchain, which is often handicapped by network delays and rising gas fees.
Enter Pepe Unchained, a PEPE 2.0 meme coin that is helping free PEPE from his old, clunky blockchain to embrace the future. That’s because PEPU will run on its own proprietary Ethereum Layer 2 blockchain.
Who needs some Brain Powder?
Pepe is gearing up for the official launch of his very own blockchain! 🚀 pic.twitter.com/kZC72UmxFy
— Pepe Unchained (@pepe_unchained) June 20, 2024
As a result, the project will finally tackle the scalability, speed, and efficiency issues that often plague meme coins that are built on the Ethereum Layer-1 blockchain.
$PEPU holders can also earn passively through the platform’s staking system, which offers an annual percentage yield (APY) of 694%.
According to 99Bitcoins, a prominent crypto channel on YouTube, $PEPU is one of the best cryptos to buy now. It adds that the token could potentially soar 100X after its launch.
You can buy $PEPU tokens for $0.0083258 each. With a price hike coming in less than two days, buy soon to lock in the best deal.
To join the presale, buy $PEPU from the official website here using ETH, USDT, or a bank card.
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