{"id":542943,"date":"2024-07-04T10:07:10","date_gmt":"2024-07-04T10:07:10","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=542943"},"modified":"2024-07-04T10:07:10","modified_gmt":"2024-07-04T10:07:10","slug":"pepe-price-prediction-pepe-dives-10-as-investors-pivot-to-this-layer-2-derivative-for-parabolic-potential","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/pepe-price-prediction-pepe-dives-10-as-investors-pivot-to-this-layer-2-derivative-for-parabolic-potential","title":{"rendered":"Pepe Price Prediction: PEPE Dives 10% As Investors Pivot To This Layer-2 Derivative For Parabolic Potential"},"content":{"rendered":"

The Pepe price plunged 10% in the last 24 hours to trade for $0.000009684 as of 01:33 a.m. EST on trading volume that slumped 59%.<\/p>\n

PEPE was dragged down by a flash crypto crash that saw the meme coin sector’s market capitalization plummet more than 7% to $43 billion.<\/p>\n

\"Meme<\/p>\n

PEPE Price Prediction<\/h2>\n

The Pepe price is trading with a bearish bias, recording a series of lower highs since it peaked at $0.000017257 on May 27. The downtrend has plunged the Pepe price into the Fibonacci Golden Zone, which is a rather volatile territory.<\/p>\n

If selling pressure increases, the Pepe price could slip below the 38.2% Fibonacci retracement level of $0.000009132. A flip of this support floor into resistance would shove the frog-themed token to a cliff. In a dire case, the altcoin could roll over to the depths of the 23.6% Fibonacci retracement level of $0.000007212.<\/p>\n

A look at the Relative Strength Index (RSI) shows that buyer momentum is dwindling, with the momentum indicator now approaching oversold territory. The Moving Average Convergence Divergence (MACD) reflects the same outlook. This is after crossing below the signal line (orange band).<\/p>\n

\"PEPE\"<\/a><\/p>\n

GeckoTerminal: PEPE\/USD 1-day chart<\/a><\/p>\n

If the bulls seize the opportunity to buy the dip, the PEPE price could recover. Nevertheless, only a candlestick close above the 61.8% Fibonacci retracement of $0.000012234 would render PEPE ripe for buying.<\/p>\n

In a highly bullish case, the gains could see the Pepe price extend a neck higher past the 78.6% Fibonacci retracement to tag the peak of the market range at $0.000017257. Such a move would constitute a 78% climb above current levels.<\/p>\n

As meme coins plummet, some traders are turning to presales for shelter, with layer-2 meme coin Pepe Unchained (PEPU) among the most popular ICO alternatives.<\/p>\n

YouTube channel 99Bitcoins, boasting over 700K subscribers, says PEPU is one of three meme coins with the potential to soar up to 100x after its launch.<\/p>\n