PepeCoin price jumps 29% as rival raises $6.7 million in presale

PepeCoin price jumped over 29% in the past 24 hours to trade at $4.45 as of 6:23 a.m. EST as FOMO investors buy the meme coin.

Thanks to this recent increase, the price of PEPECOIN was able to erase its weekly losses and push its performance of the last 7 days into the green.

PepeCoin price overcomes major resistance

4-hour chart for PEPE/USD (Source: GeckoTerminal)

The price of PepeCoin managed to cross the resistance level at $3.9682, which marks the coin fell below on December 7 and has continued to trade below until now. If the crypto closes a 4-hour candle above this price level in the next 8 hours, it could have the technical foundation to continue rising.

Traders could then try to push PepeCoin price above the next resistance level at $4.2091. In an extremely bullish case, PEPECOIN could even reach $4.4499 in the short term.

On the other hand, PepeCoin price failing to close a 4-hour candle above $3.9682 in the next 8 hours could invalidate the bullish thesis. Traders could end up taking their profits from the recent meme coin rally in this alternative scenario.

This potential selling pressure could lead PepeCoin price to fall to the $3.7274 support level, which is the lower boundary of an ascending price channel that has emerged on PEPECOIN’s 4-hour chart . Falling below this level could then result in coin falling to $3.4761 in the next 24 hours.

Bulls still appear to be in full control of PepeCoin price

From a technical perspective, the bulls still appear to be in good control of the PepeCoin price on the 4-hour chart. Both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicate a continued increase in the price of the meme coin over the next trading day.

RSI readings have climbed above 70 over the past few hours, signaling great bullish strength. Although a high RSI reading is often considered a sell signal and indicates that an asset is overbought, it is not uncommon for the indicator’s readings to remain this high for extended periods during a pump. The positive slope of the RSI line suggests that this may be the case currently.

A major bullish technical flag was also triggered by the MACD indicator on the 4-hour chart over the past 24 hours, with the MACD line moving above the MACD signal line during this period. Since the two lines crossed, the gap between them has started to widen. This could indicate that PEPECOIN’s bullish momentum shows no signs of slowing down for now.

PEPECOIN benefits from strong momentum and the same can be said for the Wall Street Pepe (WEPE) pre-sale, which raised more than $2 million the day before alone.

A new PEPE on the block that seeks to empower traders

Wall Street Pepe (WEPE) is a new Pepe derivative looking to climb the crypto ladder and make a name for itself in the booming coin space.

To do this, the project is building a WEPE army of like-minded degen traders to take on the crypto whales, who have dominated the crypto trading scene until now.

By joining the rapidly growing WEPE army, investors and traders will have access to exclusive market insights and alpha signals that will allow them to trade like a pro. Anyone who wants to become a member simply needs to purchase WEPE tokens.

Investors will want to add WEPE tokens to their portfolios as many crypto experts have come forward to share their bullish predictions for the new PEPE spin-off.

Among them is YouTuber ClayBro, who told his more than 133,000 subscribers that WEPE could create the next wave of crypto millionaires.

Investors won’t even need to wait for a potential rise in the price of WEPE to start making gains, as there is currently an attractive betting opportunity. Anyone who buys and stakes on WEPE now will unlock a 94% APY.

Investors are betting big on WEPE’s future

Wall Street Pepe is quickly attracting investors with its ongoing presale, with more than $6.7 million raised just over a week after going live. Given the coin’s appeal and bullish predictions from experts, it’s easy to understand why a buying frenzy has erupted around WEPE.

Bags packed. The skin is radiant. The vibrations are impeccable. 🐸 ⚔️ pic.twitter.com/nsChKeY09o

– Pépé de Wall Street (@WEPEToken) December 10, 2024

Some investors are also calling WEPE the next Pepe Unchained (PEPU), a token that reached a new all-time high in the last 24 hours and managed to raise over $73 million through its ICO.

Currently selling for $0.000212, WEPE tokens can be purchased with both crypto and a bank card.

Buy WEPE tokens here.

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