{"id":559681,"date":"2024-08-02T08:14:31","date_gmt":"2024-08-02T08:14:31","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=559681"},"modified":"2024-08-02T08:14:31","modified_gmt":"2024-08-02T08:14:31","slug":"pepe-price-prediction-pepe-plummets-13-in-a-week-but-this-layer-2-pepe-upgrade-races-towards-7-million","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/pepe-price-prediction-pepe-plummets-13-in-a-week-but-this-layer-2-pepe-upgrade-races-towards-7-million","title":{"rendered":"Pepe Price Prediction: PEPE Plummets 13% In A Week, But This Layer-2 Pepe Upgrade Races Towards $7 Million"},"content":{"rendered":"

The Pepe price plunged 2% in the last 24 hours and 13% in the last week <\/span>to trade at $0.00001027<\/span><\/a> as of 00:37 a.m. EST on trading volume that skyrocketed 62% to $1 billion.<\/span><\/p>\n

Despite data showing that the PEPE market is bearish, <\/span>IntoTheBlock<\/span><\/a> shows that holders making money at the current price are up 73%.<\/span><\/p>\n

\"pepe<\/p>\n

Pepe Price Aims For A Continued Bullish Trend Reversal<\/h2>\n

The Pepe price has been in consolidation since July 16, trading within the $0.00001297 resistance and the $0.00001196 support, according to data from <\/span>GeckoTerminal<\/span><\/a>. The bears and the bulls have been struggling for dominance within this range, with PEPE trading on a sideways pattern.<\/span><\/p>\n

However, yesterday, the bears seemed to have gained control of the price of PEPE, plunging below the lower boundary of the pattern to the $0.000009994 support zone.<\/span><\/p>\n

Since then, the price has been on a positive trajectory but still trades below the 50-day and 200-day Simple Moving Averages (SMAs).<\/span><\/p>\n

The Relative Strength Index (RSI) supports the trend, as it rebounds from below the 30-oversold level, currently at 32, and is climbing.<\/span><\/p>\n

\"Pepe
Pepe Price Chart Analysis Source: GeckoTerminal.com<\/figcaption><\/figure>\n

The rising RSI shows that buyers are exerting pressure, taking advantage of the asset’s undervaluation. If the buying continues, the price of PEPE could continue with its current surge back to the consolidation phase as the bulls target prices above the upper boundary at $0.00001313.<\/span><\/p>\n

However, as the token still trades below both the 50-day and 200-day levels, bears may take control of the price. In such a scenario, PEPE could retrace back to the $0.000009990 support level, which will provide strong support and a cushion against further downward pressure.<\/span><\/p>\n

Meanwhile, as the Pepe price bulls push for a bullish trend reversal to the upside, other meme coin lovers are buying its new alternative, <\/span>Pepe Unchained (PEPU)<\/span><\/a>. The project has already garnered over $6.8 million in its blockbuster presale. <\/span><\/p>\n

The YouTube channel 99Bitcoins, with more than 706k subscribers, says PEPU offers ”insane rewards” and urges investors not to ”miss out.”<\/span><\/p>\n