Pepe Price Plummets 14% In A Week As This Layer 2 PEPE Derivative Races Toward $25 Million In Presale
Release: 2024/11/05 17:34 Reading: 962
Pepe Price Fluctuates Amidst Meme Coin Market Growth
The Pepe token (PEPE) experienced a 14% drop over the past week, with a marginal 1% decline recorded in the last 24 hours. Trading volume surged by 8% to $1.1 billion at 00:28 AM EST.
Meme Coin Sector Witnesses Growth
According to CoinGecko, the meme coin sector has gained 2%, reaching a total market capitalization of $61 billion.
Pepe Price: Poised for a Bullish Reversal
Analyzing the Pepe price chart reveals a long-term descending triangle pattern. This pattern, typically bearish, may lead to a breakout in either direction when supported by sufficient volume and momentum.
The price approaches the triangle's apex within the $0.000008089 support level, often the point of breakout. The downtrend within the triangle has resulted in Pepe trading below both the 50-day and 200-day Simple Moving Averages (SMAs), but the 50-day SMA is closing in on the 200-day SMA, hinting at a potential "golden cross," a signal often associated with a price rally.
The Relative Strength Index (RSI) indicates a reading of 37.4, approaching the oversold region (below 30). This suggests that the asset may be poised for a bounce or rally, particularly if buyers enter the market.
Potential Breakout Scenarios
As per the PEPE/USD chart, the Pepe price is gravitating towards the descending triangle's apex, signaling a possible imminent breakout. Bulls may push the asset to the next resistance at $0.0000130 if a bullish breakout occurs.
Conversely, if Pepe falls below the support zone, it could descend to the next potential support level at $0.0000060.
Investors Flock to Pepe Unchained (PEPU)
Amidst Pepe's anticipation of a bullish breakout, investors have expressed interest in purchasing a newer version of the meme coin, Pepe Unchained (PEPU). The YouTube channel 99Bitcoins, boasting over 706K subscribers, has highlighted its potential to significantly increase its value after launch.
Pepe Unchained ICO Surpasses $24.6 Million
Pepe Unchained is designed as an upgraded version of PEPE, utilizing its own Layer 2 blockchain. This enables faster and cheaper transactions, positioning it as a formidable contender in the frog-themed meme coin market post-launch.
Token holders also have the opportunity to earn passive income through the platform's staking system, offering an impressive 96% annual return.
Presale Opportunity for PEPU
Interested individuals can join investors who have contributed over $24.6 million to the year's largest presale by acquiring PEPU tokens at $0.01219 each before a price increase within the next 20 hours.
To participate in the presale, visit the official website src="/uploads/20241105/17308026096729f3b1ab57d.png"> using ETH, USDT, or a bank card.
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