Pepe Price Prediction: PEPE Corrects 3% As This New Meme Coin Rival Raises More Than $36 Million In Presale
Release: 2024/12/27 15:34 Reading: 704
Pepe Price Analysis: Bears Eyeing Breakout
The Pepe price has declined by 3% in the last 24 hours, now trading at $0.00001753. Trading volume has also fallen by 21% to $1.5 billion.
Technical Analysis
The 4-hour chart indicates a period of volatility followed by consolidation. The price initially rallied, breaking resistance levels, but momentum reversed near $0.00002735. This formed a lower high, signaling a bearish shift.
Pepe's price is now consolidating between $0.00001720 (support) and $0.00001945 (resistance). A descending triangle pattern suggests a bearish continuation if support breaks.
The 50-day SMA is sloping downward at $0.00001797, acting as resistance. The 200-day SMA at $0.00002101 reinforces the bearish trend. The bearish crossover between these SMAs, known as a "death cross," indicates sustained bearish sentiment.
The Relative Strength Index (RSI) is at 42.13, indicating bearish territory but not yet oversold.
Price Prediction
The current technical structure suggests caution for Pepe. The trend remains bearish, and a breakdown below $0.00001753 could lead to further declines. However, a breakout above the 50-day SMA may signal a potential trend reversal.
Alternative Investment: Wall Street Pepe
Despite the crypto market slump, Wall Street Pepe ($WEPE) has raised over $36 million in its presale. Crypto YouTuber Austin Hilton believes it will revolutionize the crypto space.
Holders of $WEPE gain access to insider trading strategies, alpha calls, and market insights. The token also offers a staking feature with a 35% APY.
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