{"id":594805,"date":"2024-11-05T09:33:53","date_gmt":"2024-11-05T09:33:53","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=594805"},"modified":"2024-11-05T09:33:53","modified_gmt":"2024-11-05T09:33:53","slug":"pepe-price-plummets-14-in-a-week-as-this-layer-2-pepe-derivative-races-toward-25-million-in-presale","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/pepe-price-plummets-14-in-a-week-as-this-layer-2-pepe-derivative-races-toward-25-million-in-presale","title":{"rendered":"Pepe Price Plummets 14% In A Week As This Layer 2 PEPE Derivative Races Toward $25 Million In Presale"},"content":{"rendered":"

The Pepe price slumped 14% in a week and 1% in the last 24 hours <\/span>to trade at $0.000008089<\/span><\/a> as of 00:28 a.m. EST on trading volume that surged 8% to $1.1 billion.<\/span><\/p>\n

This comes as the meme coin sector gained 2% to reach a market capitalization of $61 billion, according to <\/span>CoinGecko<\/span><\/a>. <\/span><\/p>\n

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

The Pepe price chart shows a long-term descending triangle pattern. This pattern is generally bearish but can lead to a breakout in either direction if there’s enough volume and momentum.<\/span><\/p>\n

The price is approaching the triangle’s apex within the $0.000008089 support, where it often breaks out, according to data from <\/span>GeckoTerminal<\/span><\/a>.<\/span><\/p>\n

As a result of the downtrend within the triangle, the price of Pepe now trades slightly below both the 50-day and 200-day Simple Moving Averages (SMAs). However, the 50-day SMA is now closing in on the 200-day SMA, which might form a golden cross in the coming days, a signal that the price of Pepe might be headed towards a rally.<\/span><\/p>\n

The Relative Strength Index (RSI) is currently at 37.4, which is close to the oversold region (below 30). This reading suggests that the asset is near oversold conditions, meaning it could have room for a bounce or rally, particularly if buyers step in.<\/span><\/p>\n

According to the PEPE\/USD chart analysis, the Pepe price is now moving toward the apex of the descending triangle, meaning that the asset may soon break out. In this scenario, the bulls could push the asset to the next possible resistance at $0.0000130.<\/span><\/p>\n

\"Pepe
PEPEUSD Chart Analysis Source: GeckoTerminal<\/figcaption><\/figure>\n

However, if the price of Pepe breaks below the support zone, PEPE could drop to the next possible support level at $0.0000060.<\/span><\/p>\n

As the Pepe price aims for a bullish breakout, investors are rushing to buy a new, upgraded version of the meme coin called <\/span>Pepe Unchained (PEPU)<\/span><\/a>.<\/span><\/p>\n

YouTube channel 99Bitcoins, with over 706K subscribers, says it has the potential to soar turn $1k to $10k after launch.<\/span><\/p>\n