Pepe Price Prediction: PEPE Soars 12% In A Month, But Experts Say This Layer-2 Derivative Might Be The Best Crypto To Buy Now
Release: 2024/07/24 16:29 Reading: 630
Pepe Price Surge Spiked by Ethereum ETFs
The Pepe price has soared 12% in the past month and nearly 4% in the past 24 hours, reaching $0.00001217 as of 00:54 a.m. EST.
Increased trading volume (up 66%) suggests growing interest among PEPE holders, possibly driven by the launch of spot Ethereum ETFs (exchange-traded funds). As institutional players seek exposure to Ether, Ethereum-based tokens like Pepe are attracting capital and attention.
Bullish Sentiment Spurs PEPE Momentum
The Pepe price exhibits a bullish bias with successive higher highs. However, the upside potential may be limited, as the Relative Strength Index (RSI) suggests a potential range-bound scenario. The RSI's movement within a horizontal range indicates the Pepe price's inability to break through resistance at $0.00001249.
Despite the RSI's indecision, the position above the 50 level suggests bullish sentiment. Additionally, the Moving Average Convergence Divergence (MACD) is above the signal line, indicating buyer strength.
Traders considering new long positions may benefit from waiting for a candlestick close above the $0.00001249 resistance. A breakout above $0.00001362 could also signal an entry point, particularly for those looking to escape the Fibonacci Golden Zone.
Bearish Scenarios and Alternative Investments
If sellers gain momentum, the Pepe price could drop below $0.00001136, triggering panic selling. A move below $0.00000771 would invalidate the bullish outlook.
For potential alternatives, the YouTube channel 99Bitcoins recommends Pepe Unchained (PEPU), a presale that has shown promise for a 100x return.
Pepe Unchained: A Promising Meme Coin
Pepe Unchained aims to replicate the success of PEPE and surpass its position in the market. By running on its own Layer 2 blockchain, PEPU addresses the issues of scalability, speed, and efficiency that often plague meme coins on Ethereum's Layer-1 blockchain.
Token holders can passively earn through the platform's staking system with an APY of 371%. With 431 million PEPU tokens already staked, rewards will be distributed at a rate of 608.82 PEPU tokens per ETH block over two years.
PEPU tokens are currently available for purchase at $0.0086304 each. A price hike is expected in the coming days, making it advisable to invest early to secure the best deal.
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