Pepe Price Prediction: PEPE Plunges 5% As Investors Flock To This Layer-2 Alternative That’s Just Blasted Past $2 Million
Release: 2024/07/03 15:59 Reading: 346
PEPE Price Drops Amidst Sell-Offs, While PEPU Gains Attention
The PEPE price has plunged by more than 5% in the past 24 hours, reaching $0.00001089 at 12:00 a.m. EST, as investors cash out their positions in the meme coin.
This latest dip has driven the PEPE price into negative territory by over 15% in the last week and 25% in the past month.
Bearish Trend Line Caps PEPE's Price
A medium-term negative trend line has emerged on PEPE's 4-hour chart, implying that bears are exerting downward pressure on the altcoin. If this trend continues, the PEPE price could fall below the immediate support level of $0.00001083 in the coming hours.
A breach of this technical barrier could expose PEPE to the risk of dropping as low as $0.00000983 within the next 24 hours. However, this bearish scenario could be invalidated if PEPE manages to hold above $0.00001083 for the next 12 hours.
In this alternative scenario, traders could begin accumulating PEPE, potentially pushing its price above the descending trend line and paving the way for a potential resistance-turned-support level at $0.00001219. Thereafter, PEPE could ascend to $0.00001367 in the short term.
Bears Dominate PEPE's Charts
Currently, sellers are dominating buyers on PEPE's charts. Technical indicators on the meme coin's 4-hour chart suggest its price drop may not be over yet. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are exhibiting bearish signals.
Over the past 24 hours, the MACD line has crossed below the MACD Signal line, triggering a major bearish flag. This technical occurrence suggests the crypto has entered a short-term negative cycle.
The gap between the MACD and MACD Signal line is also widening, indicating intensifying bearish momentum for PEPE.
Meanwhile, the RSI has plunged below the crucial 50 benchmark during the past trading day, suggesting that sellers have gained an upper hand over buyers. Consequently, it may be easier for sellers to pull the PEPE price down in the next 24 hours than it will be for bulls to drive it up.
PEPU Gains Traction Amidst PEPE's Dip
While PEPE remains under the influence of sellers, investors are flocking to Pepe Unchained (PEPU) for its high rewards and potential parabolic gains.
A Meme Coin with Unparalleled Utility
Recent meme coin projects have begun incorporating utility features to entice investors away from established cryptos like Dogecoin and Shiba Inu. These new tokens often integrate AI or boast multi-chain capabilities. Pepe Unchained (PEPU) takes this a step further by introducing its own layer-2 blockchain network.
Through this native blockchain, the project aims to introduce a revamped PEPE to the market, one that is not hindered by Ethereum's scalability limitations. Pepe Unchained promises transaction speeds 100 times faster than Ethereum, along with exceptionally low network fees.
Rewarding Early Investors
Investors are rushing to acquire PEPU during its ongoing ICO phase, which has recently surpassed the $2 million mark. In addition to the promise of a more powerful PEPE, the meme coin is also offering presale investors who stake their tokens an impressive 924% annual yield.
These hefty rewards have caught the attention of YouTube channels such as 99Bitcoins, which boasts a substantial following of 705,000 subscribers. The channel has highlighted PEPU as a potential hidden gem that investors should not miss out on.
To qualify for the high annual staking rewards, investors can purchase Pepe Unchained via the straightforward buy widget on its website. Priced at $0.0082267, PEPU can be acquired using ETH, USDT, BNB, or bank cards.
Once purchased, the tokens can be staked by accessing the staking page on the website. Investors should act quickly, as the token price is scheduled to increase in a matter of days.
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