{"id":583514,"date":"2024-10-04T08:22:01","date_gmt":"2024-10-04T08:22:01","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=583514"},"modified":"2024-10-04T08:22:01","modified_gmt":"2024-10-04T08:22:01","slug":"degen-price-prediction-base-token-degen-soars-64-in-a-week-but-experts-say-this-layer-2-pepe-could-go-parabolic","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/degen-price-prediction-base-token-degen-soars-64-in-a-week-but-experts-say-this-layer-2-pepe-could-go-parabolic","title":{"rendered":"Degen Price Prediction: Base Token DEGEN Soars 64% In A Week, But Experts Say This Layer-2 PEPE Could Go Parabolic"},"content":{"rendered":"

The Degen price soared 64% in a week and 8% in the last 24 hours <\/span>to trade at $0.008468<\/span><\/a> as of 00:25 a.m. EST on trading volume that surged 49% to $46.8 million.<\/span><\/p>\n

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

The Degen price has been on a sustained consolidation in September, trading within the $0.0050 range, according to data from <\/span>GeckoTerminal<\/span><\/a>. However, the $0.012 resistance allowed the bears to take control of the price, exerting pressure on the price towards a correction.<\/span><\/p>\n

After the significant price rally and subsequent drop, the price started to round off into what looks like a rounded bottom pattern, which is generally considered a bullish reversal pattern.<\/span><\/p>\n

The price has started to break upward after forming this rounded bottom, potentially indicating a resumption of the prior bullish trend.<\/span><\/p>\n

DEGEN now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), affirming the sentiment that the price of Degen is still on a bullish trend.<\/span><\/p>\n

Additionally, the Relative Strength Index (RSI) also suggests that buyers have the upper hand, as the RSI hurtles towards the 70-overbought region, currently at 63.<\/span><\/p>\n

The MACD line (blue) is above the signal line (orange), with a slight positive divergence. This suggests that bullish momentum is starting to gain strength, and the crossover happened recently, which might explain the price recovery from the dip.<\/span><\/p>\n

The histogram shows increasing green bars, further confirming that momentum is building toward the upside.<\/span><\/p>\n

\"Degen
DEGENUSD Chart Analysis Source: GeckoTerminal.com<\/figcaption><\/figure>\n

Degen Price Prediction<\/h2>\n

According to the DEGEN\/USD chart analysis on the 1-hour chart, the price of Degen is currently on a bullish trend reversal, which the bulls aim to sustain to be able to push the price of Degen towards a rally.<\/span><\/p>\n

If the bulls take advantage of the rounding bottom pattern and the major indicators, the price of Degen may soar even higher as they target the $0.012 resistance.<\/span><\/p>\n

However, the RSI may soon be oversold, indicating that the Degen price may soon become overvalued. If the bears take control of the price, the Degen price may soon plunge, with $0.005792 acting as the next support zone (200-day SMA).<\/span><\/p>\n

As the Degen price bulls aim for a continued bullish rally, the <\/span>Pepe Unchained (PEPU)<\/span><\/a> presale seems to have only one mode: maximum bullish.<\/span><\/p>\n

According to 99Bitcoins, a popular crypto YouTube channel with over 706k subscribers, PEPU could be the next 10x meme coin. <\/span><\/p>\n