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The price of Bittensor flew away over 12% in the past 24 hours to trade at $330.82 as of 11:45 p.m. EST as investors initiate an accumulation campaign for the altcoin.
With the recent gain, TAO price has pushed its weekly performance deeper into the green. As a result, the altcoin is up over 22% in the last 7 days.
Bittensor Price Challenges Major Resistance Level
4-hour chart for TAO/USDT (Source: TradingView)
THE Bittensor TAO price is attempting to overcome the resistance level at $337 after the altcoin printed a series of higher highs and higher lows on the 4-hour chart to form an ascending channel. If the cryptocurrency breaks above $337 in the next 24 hours, TAO could break out of the rising channel and potentially climb as high as $370 in the near term.
On the other hand, the rejection of Bittensor price by the $337 resistance level could invalidate the bullish thesis. In this alternative scenario, the crypto TAO could take the risk of testing the immediate support at $295. A break below this technical safety net could then cause TAO to fall out of the ascending channel towards the $255 mark.
Technical data suggests that Bittensor price could continue to rise
Technical indicators on TAO’s 4-hour chart suggest that Bittensor price could continue its upward trend in the coming 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing positive signs.
Over the past 24 hours, the MACD line has bounced off the MACD signal line, indicating that TAO has entered a new short-term bullish channel. Additionally, the MACD line is breaking out above the MACD signal line. Traders could view this widening gap between the two lines as a sign that TAO’s positive momentum is gaining momentum.
Meanwhile, the RSI line has also crossed above its simple moving average (SMA) line on the 4-hour chart over the past 24 hours, indicating that buyers have gained the upper hand over sellers. However, the RSI is now above 70, which could be considered a sell signal by some traders as it suggests that TAO’s downside potential is greater than its upside potential.
As TAO looks to continue its rise, the layer 2 meme coin Pepe Unchained (PEPU) surpassed the $10 million mark in its pre-sale.
A turbocharged PEPE with its own chain
Pepe Unchained (PEPU) aims to improve upon the popular frog-themed PEPE, which was hampered by scalability limitations on the congested Ethereum network.
Current holders of the meme coin have had to endure high transaction fees and slow processing times as more tokens and projects make their way into the Ethereum ecosystem.
Pepe Unchained will move the work of processing PEPE transactions from the Ethereum mainnet to a dedicated Layer 2 chain with the launch of PEPU.
This will not only reduce transaction fees to a fraction of what they are currently, but will also unlock speeds up to 100x faster than any token deployed on the Ethereum mainnet.
Investors will also be able to simultaneously protect their assets using Ethereum’s robust security framework while enjoying Pepe Unchained’s blazing-fast transaction speeds thanks to cutting-edge bridging technology.
With all that Pepe Unchained has to offer, it’s easy to see why an analyst from popular YouTube channel 99Bitcoins named PEPU as one of the best cryptocurrencies to buy right now.
Investors rush to buy PEPU at pre-sale prices
Pepe Unchained has already raised over $10 million through its ICO. Funds are expected to continue to flow as investors rush to buy PEPU at pre-sale prices and attempt to access the 199% APY on offer through the project’s staking program.
Pepe Unchained will change the course of meme coins forever.
The whole world is beginning to realize this.
$10 million raised.
This is an important step! Get ready for the fireworks! pic.twitter.com/yrmU0WuvhV
— Pepe Unchained (@pepe_unchained) August 22, 2024
To unlock these rewards, investors will first need to acquire the token via the in-app purchase widget on the project’s website.
Selling at $0.0092364, PEPU can be purchased using ETH, USDT, BNB, or a bank card. Once purchased, the tokens will need to be locked up via the staking page on the website to benefit from the high APY.
Investors who want to get the meme token at the best price will have to act fast because the price of the token will increase in less than 23 hours. It will increase again in the following stages.
Buy and stake PEPU here for 199% APY here before its next price increase.
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