Pepe Price Faces Key Test In September - Is This New Meme Coin A Better Investment?
Release: 2024/08/21 00:50 Reading: 426
Pepe Meme Coin Faces Crucial Tests in September
Despite a 10% rally, the Pepe coin's price has failed to surpass the 200-day Exponential Moving Average, currently at $0.0000083. Bulls must reclaim this level to pave the way for a new all-time high.
Pepe Price Analysis
Trading at $0.0000078, Pepe has a market capitalization of $3.28 billion. The daily trading volume has surged over 60% to $750 million.
TradingView indicates a "Sell" signal for Pepe, as it underperforms most moving average indicators. The 200-day EMA remains a key resistance, followed by the 10-week EMA at $0.0000094.
A monthly close below $0.0000066 would trigger a larger price decline to as low as $0.0000022.
Possible Scenario
If the monthly close falls below $0.0000066, it could trigger a potential upthrust. The chart below shows a similar scenario during a previous ADA rally.
[Image of a chart]
Fed Rate Cuts and Political Factors
Fed rate cuts in September, especially a surprising 50 bps cut, could boost Pepe and the crypto market. The improving odds of a Trump presidency are also bullish for Pepe.
New Meme Coins
Due to low correlation with the broader market, new meme coins can offer outsized returns. Pepe Unchained (PEPU) is one such coin that has raised nearly $10 million in its presale.
Pepe Unchained
Pepe Unchained offers low trading costs and high staking rewards on its Layer-2 chain on Ethereum. Early PEPU buyers have already earned high staking rewards at an APY of over 200%.
Disclaimer: This article is sponsored and for informational purposes only. It does not represent the views of Crypto Daily and is not intended as financial advice.
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