Pepe Price Plunges 9%, But Funding For This New PEPE Challenger Goes Parabolic
Release: 2024/10/02 22:04 Reading: 338
Pepe Price Rebounds after Plunge
The Pepe price has experienced a 9% drop in the past 24 hours, trading at $0.000009833 as of 06:47 a.m. EST. Despite this decline, trading volume has surged by 78% to $3.4 billion.
Bullish Momentum Building
Data from GeckoTerminal shows that the Pepe price is recovering from a sustained downtrend. Bulls have capitalized on the support level of $0.000006550, pushing the price higher.
Pepe remains above both the 50-day and 200-day Simple Moving Averages (SMAs), indicating a potential bullish trend. Should the bulls continue their momentum, the price could reach $0.000013.
Technical Indicators
The Relative Strength Index (RSI) is retracing from overbought territory, suggesting that buyers are regaining control. The 50-day SMA has crossed below the 200-day SMA, forming a "death cross" at $0.000009085.
Bearish Potential
If bears take advantage of these indicators, the Fair Value Gap (FVG) may provide support around $0.0000050.
Pepe Unchained Presale Success
Despite the market volatility, the Pepe Unchained (PEPU) presale has raised over $16.9 million, making it one of the most successful of the year. Investors are optimistic about the project's potential as a Layer-2 blockchain solution for Pepe ownership.
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