Brett Price Plunges 7% as Meme Coin Market Crashes, But This PEPE 2.0 ICO Hits $24M

Brett price fell 7% in last 24 hours trading at $0.08871 at 12:26 a.m. EST on trading volume that increased 7% to $48.9 million.

This comes as the market capitalization of the coin industry plunged 5% to $63.5 billion in the past 24 hours.

Brett Price currently on a downtrend

Brett price action is contained within a descending channel pattern (marked by parallel white trendlines), which is generally a bearish structure.

This suggests a sequence of lower highs and lower lows, indicating downward pressure after the bears took full control of the price within the $0.117 resistance, according to data from GeckoTerminal.

BRETT is now trading below the 50-day and 200-day simple moving averages (SMA), which coincides with the current downtrend. Additionally, the 50-day SMA moved below the 200-day SMA, forming a deadly crossover at $0.095, which cements the current bearish outlook on a 4-hour time frame.

The Relative Strength Index (RSI) is at 32.79, which is close to the oversold threshold (30). This could mean the asset is approaching a potential reversal zone, but given the bearish structure, oversold conditions may persist, so it is not a strong buy signal in itself.

The Fair Valued Gap (FVG) area between $0.081 and $0.085 could serve as a demand zone. The price is approaching this zone, so it could offer support and potentially attract buyers.

If the current downtrend persists, the FVG level could be the next possible support in the short term.

In a reverse scenario, however, Brett price could prepare for a bullish reversal after reaching the FVG zone, with the next possible target being the $0.10 resistance level.

Meanwhile, a new coin Pepe Unchained (PEPU) continues to grow despite the market slowdown and is now on track to raise $24 million in pre-sales.

Influential YouTuber ClayBro, with over 130,000 subscribers, claims PEPU could grow 20-fold after launch.

Pepe Unchained exceeds $23.9 million

The original Pepe meme coin lives on the Ethereum blockchain and has long been confined by its layer 1 technology, which is hampered by slow transactions, network delays, rising gas fees, and lack of scalability.

Pepe Unchained — Revolutionary layer 2 blockchain technology.

Welcome to the future of meme coins. 🐸 pic.twitter.com/iC9b6YSynT

– Pepe Unchained (@pepe_unchained) September 6, 2024

As its name suggests, Pepe unleashed plans to change all that. It comes with its own blockchain to free PEPE from the cumbersome Ethereum network and enable it to embrace the future.

It offers blazing speed, much lower fees, and improved scalability. The project improves its visibility and functionality by introducing various features within the Pepe Unchained ecosystem, including a decentralized exchange, bridging capabilities, and 98% annual staking rewards.

Pepe Unchained L2 preview!

What we are building is not just a new channel, but an entire ecosystem.

🐸Pepe Unleashed L2
🐸Block Explorer
🐸DEX
🐸Bridge
🐸Advanced analysis
🐸Subsidies for builders

Pepe Unchained is coming. And this will shake up the crypto space. pic.twitter.com/ZVnvgO6MGF

– Pepe Unchained (@pepe_unchained) September 26, 2024

You can buy $PEPU tokens for $0.01199 each right now. With prices expected to rise in around 9 p.m., buy soon to get the best deal.

To participate in the presale, buy $PEPU from the official website here using ETH, USDT or a bank card.

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