Pepe Price Prediction: PEPE Pumps 5%, But Investors Are Flocking To This PEPE 2.0 With A 259% APY
Release: 2024/08/07 16:29 Reading: 477
Pepe Price Surges 5%, Aims to Continue Bullish Trend
In the past 24 hours, the price of Pepe has ascended by 5%, reaching $0.000008187 at 00:42 AM EST. However, trading volume has decreased by 50% to $1.6 billion.
This surge aligns with the broader crypto market's recovery from Monday's crash, where Bitcoin (BTC) dipped below $50,000. As BTC rebounds towards $57,000, investors are seizing market opportunities, leading to a sustained bullish trend reversal for PEPE.
Technical Analysis
According to GeckoTerminal data, Pepe's price surged from mid-July to late July, reaching a resistance level of $0.00001288. Bears subsequently took control, causing the price to drop and form a rounding bottom pattern.
PEPE broke through a neckline at $0.000008534, falling to support at $0.000006024. Buyers then regained dominance, and Pepe's price has been on an upward trend, trading within the neckline.
The Relative Strength Index (RSI) is recovering from the oversold region of 30. It currently stands at 49 on the 4-hour chart, indicating that buyers are gaining momentum.
Furthermore, the Moving Average Convergence Divergence (MACD) also suggests a bullish trend, with its lines rebounding from below the neutral line. The blue MACD line has crossed above the orange signal line, signaling a bullish crossover.
Pepe Price Prediction
Technical analysis indicates that Pepe is poised for a bullish trend reversal. With RSI and MACD showing increased buying activity, the price could rebound to $0.00001037, coinciding with the 50-day Simple Moving Average (SMA).
The 50-day SMA is crossing above the 200-day SMA, forming a golden cross at $0.000010551, providing further support for optimistic investors.
However, Pepe still trades below both the 50-day and 200-day SMAs, leaving some bearish potential. If bears capitalize, Pepe could retreat to the $0.0000060 support level.
Alternative: Pepe Unchained (PEPU)
Investors are also purchasing Pepe Unchained (PEPU), which has raised over $7.5 million during its presale.
PEPU aims to follow in the footsteps of PEPE while addressing limitations faced by PEPE on the Ethereum blockchain. It features its own Layer 2 chain on Ethereum, offering increased speed, scalability, and lower fees.
Stakeholders can stake $PEPU for an annual percentage yield (APY) of 259%. 99Bitcoins, a crypto channel with over 706k subscribers, has endorsed $PEPU as a promising investment with potential for significant growth.
Currently, $PEPU tokens are available for purchase at $0.0089105. To join the presale, visit the official website and purchase $PEPU using ETH, USDT, or a bank card.
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