Brett Price Plunges 7% As Meme Coin Market Slumps, But This PEPE 2.0 ICO Storms Toward $24 Million
Release: 2024/11/01 16:34 Reading: 977
Brett Price Plummets 7% Amidst Meme Coin Market Decline
As of 00:26 a.m. EST, the price of Brett has plunged 7% to $0.08871, accompanied by a 7% increase in trading volume to $48.9 million. This decline mirrors a 5% drop in the overall market capitalization of the meme coin sector to $63.5 billion over the past 24 hours.
Brett Price Exhibits Bearish Trend
The Brett price movement is contained within a descending channel pattern, characterized by parallel white trendlines. This typically indicates a bearish trend, suggesting a series of lower highs and lower lows. GeckoTerminal data reveals that bears gained control after the price broke below the $0.117 resistance.
Brett currently trades below both the 50-day and 200-day Simple Moving Averages (SMAs), supporting the current bearish outlook. Notably, the 50-day SMA has crossed below the 200-day SMA, forming a "death cross" at $0.095, strengthening the bearish prospects on the 4-hour timeframe.
The Relative Strength Index (RSI) stands at 32.79, close to the oversold threshold (30). While this may suggest the asset is approaching a potential reversal zone, the bearish structure could prolong oversold conditions, rendering it a weak buy signal alone.
The Fair Valued Gap (FVG) area between $0.081 and $0.085 could serve as a demand zone. As the price approaches this area, it may find support and attract buyers. If the bearish trend persists, FVG could act as an immediate support level.
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Pepe Unchained: A Bullish Bright Spot
In contrast to the broader market decline, the new meme coin Pepe Unchained (PEPU) has gained momentum. It is nearing the $24 million mark in its presale phase. YouTuber ClayBro, with over 130k subscribers, predicts a potential 20X surge for PEPU after its launch.
Pepe Unchained's Innovative Approach
The original Pepe meme coin resides on the Ethereum blockchain, facing limitations such as slow transactions and network delays. Pepe Unchained aims to address these issues by introducing its own blockchain.
This advanced technology offers lightning speed, lower fees, and enhanced scalability. Additionally, Pepe Unchained is developing features within its ecosystem, including a decentralized exchange, bridging capabilities, and staking rewards.
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