The Pepe Price Plunges 13%, But Experts Say Consider This Layer-2 Alternative For Parabolic Gains
Release: 2024/07/08 16:24 Reading: 681
Pepe Price Poised for a Rebound Despite Market Dip
In the past 24 hours, the value of Pepe has plummeted 13% to $0.000008395. Despite this decline, trading volume has surged 12% to $757 million, with the entire crypto market experiencing a 3% drop in the same period.
Technical Analysis
Pepe's price has been in a downtrend since reaching an all-time high of $0.00001717. A "death cross" around $0.0000129 has enabled bears to push the price along a falling channel pattern.
Both the 50-day and 200-day Simple Moving Averages (SMAs) are below the current price, confirming the downtrend. The Relative Strength Index (RSI) is also declining towards the 30-oversold level, indicating continued selling pressure.
Further declines may drive Pepe's price to $0.000007233, but the oversold RSI level could prompt accumulation by investors. If bulls regain control, Pepe could potentially rebound over the falling channel towards a new ATH of $0.0000173, after breaching resistance levels at $0.000001009 and $0.00001167.
Pepe Unchained Emerges as an Alternative
Amidst the market downturn, some Pepe investors are exploring Pepe Unchained (PEPU), a new upgrade that has attracted over $2.7 million in funding. PEPU aims to address scalability, speed, and efficiency issues by running on its proprietary Ethereum Layer 2 blockchain.
Passive Income Potential
$PEPU holders can earn passively through the platform's staking system, offering an annual percentage yield (APY) of 694%. Cryptocurrency analysts have recognized PEPU as a promising cryptocurrency to invest in, with potential for significant growth after its launch.
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