Pepe Price Prediction: PEPE Plunges 5% As Investors Pivot To This Dogecoin Derivative And Its 111% APY
Release: 2024/06/07 16:09 Reading: 535
Pepe Price Prediction
In the past 24 hours, the value of Pepe has plummeted by 5%, with a trading volume of $903 million, representing a 36% decrease. The drop mirrors a 1% decline in the meme coin market, leading to a market capitalization of $64 billion.
Bullish Pennant Pattern Signals Breakout Potential
Over the past month, Pepe has exhibited a bullish surge, reaching an all-time high (ATH) of $0.00001717 on May 27, as per GeckoTerminal data. However, the bulls have been unable to sustain this high, causing Pepe to fluctuate within a bullish pennant pattern. The current retracement has led to a dip in the price, with support at approximately $0.00001411.
Technical indicators, including the 50-day Simple Moving Average (SMA) and the Relative Strength Index (RSI), suggest that the bulls are aiming to maintain Pepe within the support level of $0.00001469. Meanwhile, the token remains well above the 200-day SMA, indicating a long-term bullish stance.
Possible Outcomes
Should the bearish pressure persist, Pepe may breach the pennant's lower boundary, pushing its price to the next support zone of $0.00001208, which coincides with the 200-day SMA. Conversely, bulls may leverage the current support level of $0.00001411 to propel Pepe towards its upper boundary, potentially setting a new ATH of $0.00002151.
PlayDoge Presale Gains Traction
Amidst the Pepe price fluctuations, investors have been flocking to PlayDoge (PLAY), a new presale that has raised over $2.8 million within a week.
About PlayDoge
PlayDoge is a mobile-based play-to-earn (P2E) game that transforms the iconic Doge meme into a Tamagotchi-style virtual pet. The game revolves around caring for virtual dogs and earning $PLAY tokens as a reward. Token holders can also stake $PLAY for an annual percentage yield (APY) of 111%.
Prominent crypto analyst Jacob Bury predicts that $PLAY has the potential to soar 10X following its upcoming launch.
Join the Presale
Interested investors can purchase $PLAY tokens for $0.00504 each on the official website using BNB, USDT, or a bank card.
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