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Pepe price fell 3% to trade at $0.000009741 at 12:22 a.m. EST, on trading volume that plunged 19% to $1 billion.
This comes as the meme coin space gained 1% in the past 24 hours to reach a market cap of $74.9 billion.
Pepe Price could be heading towards a bullish trend reversal
Pepe price followed an uptrend in October, as the bulls took the lead into the $0.000008992 support, and the price climbed through an ascending channel pattern, according to data from GeckoTerminal.
However, a recent downtrend has allowed the price to dip below the lower boundary of the channel, and PEPE is now trading in a consolidation phase.
The slight correction has now pushed Pepe price to trade below the 50-day and 200-day simple moving averages (SMA).
Additionally, the Relative Strength Index (RSI) is at 38.98, which is close to the oversold region (below 30). This indicates that the asset is slightly bearish but not yet significantly oversold. There may be room for further downward movement, but this is also a potential rebound area as buyers could step in if the RSI falls further.
The Moving Average Convergence Divergence (MACD) is showing signs of a positive trend, as it moves above the orange signal line, forming a bullish crossover.
A successful bullish trend reversal at this level could see Pepe price rebound from the current price, with resistance at $0.000012 the next possible target.
However, if the bears support the price at this level, Pepe price could plunge all the way to the $0.0000090 support level.
As Pepe price targets a bullish rally, investors are rushing to buy a badass new alternative to Pepe called Pepe unleashed (PEPU), which is one of the most successful pre-sales of the year.
YouTube channel 99Bitcoins, with over 706,000 subscribers, claims it has the potential to grow 100x after launch.
Pepe Unchained exceeds $22 million
The blockbuster Pepe unleashed the pre-sale raised a whopping $22.3 million as investors embrace the idea that it represents a leap forward for the Pepe ecosystem.
This innovative project comes with its own layer 2 blockchain designed to release, or “unleash,” the OG PEPE meme coin from its clunky layer 1 network on Ethereum.
The project addresses fundamental challenges facing traditional layer 1 blockchains like Ethereum. With its advanced Layer 2 solution, Pepe Unchained significantly reduces transaction costs and brings estimated transaction speeds up to 100x faster.
Who needs brain powder?
Pepe is preparing for the official launch of his own blockchain! 🚀 pic.twitter.com/kZC72UmxFy
– Pepe Unchained (@pepe_unchained) June 20, 2024
Token holders can also earn passively through the platform’s staking systemwhich offers an annual percentage yield (APY) of 102%.
You can currently purchase $PEPU tokens for $0.01177 each. With prices expected to rise in around 14 hours, buy quickly to get the best deal.
To participate in the presale, buy $PEPU from the official website here using ETH, USDT or a bank card.
Related news
Most Wanted Crypto Launch – Pepe Unchained
- Layer 2 Coin Ecosystem
- Featured in Cointelegraph
- SolidProof and Coinsult audited
- Faceoff Rewards – pepeunchained.com
- Over $10M Raised at ICO – Ending Soon
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