Pepe Price Prediction As Whale Bets Big On PEPE And This Pepe Derivative ICO Goes Ballistic
Release: 2024/09/03 20:44 Reading: 855
Pepe Price Shows Slight Uptrend as Investors Accumulate Frog-Themed Token
Over the past 24 hours, the Pepe price has experienced a marginal 1% increase, reaching $0.000007555 as of 7:38 a.m. EST. This modest uptick coincides with investors accumulating the meme coin.
Significant Withdrawal from Binance
The slight rise in PEPE's value follows a substantial withdrawal of the token from Binance. A new wallet was created and used to withdraw 292.97B $PEPE ($2.17M) and 273,267 $WLD ($391K) from the exchange in the preceding 20 minutes.
On-chain tracking platform Lookonchain highlighted this large transaction on September 2nd, noting that a "crypto whale" had transferred 292.97 billion PEPE, valued at $2.17 million at the time, to a new wallet address. This suggests that the whale may be a long-term holder.
Pepe Price Faces Critical Resistance Level
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4-hour chart for PEPE/USD (Source: GeckoTerminal)
Currently, the Pepe price is attempting to overcome a major resistance level at $0.000007727. Should the meme coin successfully breach this technical barrier, it could establish the foundation for further upward movement in the next 24 hours. Traders may consider entering a long position for PEPE, potentially pushing the altcoin's price up to $0.000008635.
However, a rejection of $0.000007727 within the next 24 hours could invalidate the bullish outlook. In such a scenario, the meme coin will likely test the immediate support level at $0.000007094. A break below this technical support could expose the Pepe price to a potential drop to $0.000006488 in the near term.
Technical Indicators Signal Weakening Bullish Momentum
Technical indicators on PEPE's 4-hour chart suggest that the meme coin's short-term bullish momentum is beginning to wane. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators are showing bearish signs.
Over the past 24 hours, RSI readings have stabilized in the high 40s. With the current reading below the critical 50 benchmark, it appears that bears may have the upper hand over bulls. As such, sellers may find it easier to push the Pepe price down in the next 24 hours than it will be for buyers to drive the altcoin's value up.
Meanwhile, the MACD Histogram slope is neutral. While the MACD line remains bullishly positioned above the MACD Signal line, the flat Histogram slope suggests that PEPE's current positive trend could be short-lived. If sellers capitalize on the crypto's weakened bullish momentum, PEPE could potentially fall below the $0.000007094 support.
Investors Inject Cash into Pepe Unchained (PEPU) ICO
Despite PEPE's apparent loss of momentum, investors continue to invest heavily in the ICO for layer-2 meme coin Pepe Unchained (PEPU).
PEPE's Long-Awaited Upgrade
PEPE has achieved notable success within the cryptocurrency market, becoming one of the largest cryptos by market cap. However, its potential has been limited by high fees and slow processing times resulting from its reliance on the congested Ethereum network.
Pepe Unchained (PEPU), via a dedicated layer-2 blockchain, aims to alleviate these challenges by moving PEPE's transaction processing off of the Ethereum mainnet. Additionally, the project plans to establish a launchpad for future meme coin ventures.
This shift will allow investors and meme coin enthusiasts to transact at significantly lower costs and speeds that are 100X faster than any Ethereum-based token. Asset transfers between the Ethereum and Pepe Unchained networks will also be facilitated seamlessly.
Investors Anticipate Strong Performance from PEPU
Given Pepe Unchained's potential to become an incubator for future meme coins and its focus on enhancing the popular PEPE token, analysts and experts are generally optimistic about the project and its native PEPU token.
For instance, crypto YouTuber ClayBro has expressed his belief that PEPU has the potential to generate 100X returns for investors.
PEPU Presale Gains Traction
Pepe Unchained has garnered over $11.6 million through its ongoing presale. Beyond the project's meme coin appeal and positive predictions from crypto experts, a potential driver of investor enthusiasm could be the 173% annual yield offered to those who purchase and stake PEPU during this early stage.
Investors can acquire the token through the buy widget on the project's official website and subsequently lock up their tokens through the staking page on the site to access these incentives.
Currently priced at $0.0094603, PEPU can be purchased using ETH, USDT, BNB, or bank cards. Potential buyers seeking the most favorable rates are advised to act promptly as the meme coin's price is expected to increase in less than 21 hours.
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