{"id":586115,"date":"2024-10-11T07:59:10","date_gmt":"2024-10-11T07:59:10","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=586115"},"modified":"2024-10-11T07:59:10","modified_gmt":"2024-10-11T07:59:10","slug":"pepe-price-prediction-pepe-soars-28-in-a-month-but-investors-are-flocking-to-this-layer-2-alternative-for-exponential-potential","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/pepe-price-prediction-pepe-soars-28-in-a-month-but-investors-are-flocking-to-this-layer-2-alternative-for-exponential-potential","title":{"rendered":"Pepe Price Prediction: PEPE Soars 28% In A Month, But Investors Are Flocking To This Layer-2 Alternative For Exponential Potential"},"content":{"rendered":"

The Pepe price has soared more than 28% in a month after <\/span>climbing 1%<\/span><\/a> in the last 24 hours to trade at $0.000009358 as of 11:32 p.m. EST.<\/span><\/p>\n

Following the strong monthly performance, the PEPE price is in the green by an impressive 1,355% over the last year.<\/span><\/p>\n

The Pepe Price Breaking Out Of A Bearish Channel<\/span><\/h2>\n

\"PEPE<\/p>\n

4-hour chart for PEPE\/USD (Source: <\/span>GeckoTerminal<\/span><\/a>)<\/span><\/p>\n

The <\/span>Pepe<\/span><\/a> price was able to crawl out of a descending price channel in the last couple of hours. As a result, the meme coin is now attempting to overcome the resistance level at $0.000009905. A break above this mark could set the crypto’s price up for a continued rise to the next major mark at $0.000010878.<\/span><\/p>\n

On the other hand, the Pepe price failing to maintain a position outside of the descending price channel for the next 12 hours could prevent any bullish move from taking place in the short term. <\/span><\/p>\n

In a more bearish scenario, <\/span>PEPE<\/span><\/a> might end up dropping back within the negative channel. This could also lead to it losing the immediate support level at $0.000008972, which might result in sellers pushing the meme coin’s value down to as low as $0.000008294 within the following 48 hours.<\/span><\/p>\n

Buyers Slowly Chipping Away At Sellers’ Control Over The Pepe Price<\/span><\/h2>\n

From a technical standpoint, sellers seem to maintain control. However, there are some signs that bulls are trying to take back the advantage. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are starting to show positive signs.<\/span><\/p>\n

Throughout the past trading day, the MACD line has been bearishly positioned below the MACD Signal line to suggest the Pepe price is in a negative cycle. In the last few hours, the MACD line has started to rise towards the MACD Signal line. An intersection between these two technical indicators could signal that PEPE’s bearish phase has come to an end.<\/span><\/p>\n

RSI readings have also gradually risen in the last few hours, with the RSI line still positively sloped. Although the indicator’s current reading is below the 50 benchmark to suggest that sellers have the upper hand, the recent increase in RSI values could be an early sign of an impending shift in power.<\/span><\/p>\n

While the Pepe price attempts to overcome the bearish pressure on its charts, layer-2 alternative <\/span>Pepe Unchained (PEPU)<\/span><\/a> is displaying seemingly unstoppable momentum in its blockbuster presale.<\/span><\/p>\n

No More High Network Fees And Slow Processing Times For PEPE<\/span><\/h2>\n

PEPE has climbed the crypto ranks to become the third largest meme coin by market cap. However, its potential to continue soaring has reached a roadblock due to the high fees and slow processing times of the congested Ethereum network.<\/span><\/p>\n

With its layer-2 chain, Pepe Unchained (PEPU) will pull the popular frog-themed token out of the over populated Ethereum layer-1 mainnet and transport it to a new and more scalable era. <\/span><\/p>\n

Backers of the meme coin will subsequently gain access to a 100-fold increase in transaction speeds. They will also be able to send and receive crypto at a fraction of the current cost.<\/span><\/p>\n

In a recent video, YouTuber Austin Hilton told his 275K subscribers that Pepe Unchained is the biggest meme coin presale launch ever.<\/span><\/p>\n