{"id":604897,"date":"2024-11-27T07:56:37","date_gmt":"2024-11-27T07:56:37","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=604897"},"modified":"2024-11-27T07:56:37","modified_gmt":"2024-11-27T07:56:37","slug":"pepe-price-prediction-pepe-plunges-5-as-investor-frenzy-erupts-around-this-layer-2-challenger-amid-binance-listing-speculation","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/pepe-price-prediction-pepe-plunges-5-as-investor-frenzy-erupts-around-this-layer-2-challenger-amid-binance-listing-speculation","title":{"rendered":"Pepe Price Prediction: PEPE Plunges 5% As Investor Frenzy Erupts Around This Layer 2 Challenger Amid Binance Listing Speculation"},"content":{"rendered":"

The Pepe price plunged 5% in the last 24 hours to trade at $0.00001841 as of 11:27 p.m. EST on trading volume that tumbled 5% to $3.5 billion.<\/span><\/p>\n

Pepe Price In Cooling Off Phase<\/h2>\n

The overall Pepe price trend shifted bullish during November, marked by a breakout from the consolidation phase near the $0.0000010 level, according to data from <\/span>GeckoTerminal<\/span><\/a>.<\/span><\/p>\n

Currently, the price of Pepe is retracing from a parabolic rally and appears to be in a cooling-off phase, forming a descending channel.<\/span><\/p>\n

However, the PEPE price still trades above both the 50-day and 200-day Simple Moving Averages (SMAs), which is an indication that the bulls may still take charge of the price.<\/span><\/p>\n

The Relative Strength Index (RSI) has cooled off from overbought levels during the rally to now hover around the 57 level. A reading near 57 indicates neutral-to-slightly-bullish conditions, leaving room for either further consolidation or a potential continuation of the uptrend.<\/span><\/p>\n

If the Pepe price sustains its current price correction, the first possible support level would be at $0.00001309, within the 50-day SMA. The 200-day SMA now acts as the strong support one at $0.0000109.<\/span><\/p>\n

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

As long as the price remains above the 50-day and 200-day SMAs, the overall trend remains bullish. A breakout from the current descending channel could lead to retesting or surpassing recent highs near $0.0000020.<\/span><\/p>\n

Meanwhile, investors are going all-in on new PEPE rival <\/span>Pepe Unchained ($PEPU)<\/span><\/a>, which has surged past the $54 million mark in its presale.<\/span><\/p>\n

According to 99Bitcoins, a leading crypto YouTube channel with more than 710k followers, Pepe Unchained ($PEPU) could be the next meme coin to deliver 100x returns after its launch in just 16 days.<\/span><\/p>\n