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Sunpepe price has surged 315% in the past 24 hours to trade at $0.002941 as of 10:50 PM EST, on a 59% increase in trading volume to $6.9 million.
This price increase follows SUNPEPE’s listing on crypto exchange Bitmart on August 21, with trading for the SUNPEPE/USDT pair beginning at 9:00 UTC.
SUNPEPE is now among the top trending cryptocurrencies in terms of market capitalization, as reported by CoinMarketCap.
SUNPEPE (SUNPEPE) is the largest Pepe meme token on the TRON blockchain, and its developer says it was created to bring fun, sunshine, and love to the crypto community.
Parabolic curve of Sunpepe price
The SUNPEPE/USD chart on a 4-hour time frame reveals a dramatic and rapid increase in prices characterized by a parabolic curve. This pattern often signals a bullish and strong sentiment and aggressive buying, but it also carries the risk of sharp corrections.
Prior to the parabolic surge, the price consolidated within a support area, establishing a strong base for the upward move. As the price began to climb, it encountered and eventually broke through an initial resistance level around $0.0020, which had previously marked a spike. This breakout propelled the price even higher, reaching around $0.003672.
SUNPEPEUSD Analysis Source: Dextools.io
However, as the price approached the $0.0040 level, it experienced a pullback, which is typical after such significant gains. This area is now serving as a crucial resistance level. If the price struggles to break above this level, a deeper correction could be on the horizon.
Sunpepe Price Rises on Bullish Technicals
The Relative Strength Index (RSI) is currently at 84.61, indicating that the asset is heavily overbought. This indicates that the price could be in for a correction or at least a period of consolidation.
The MACD indicator also indicates strong bullish momentum, with the MACD line well above the signal line and a positive histogram. While this confirms the bullish sentiment, the sharp rise in the MACD line could also indicate that the momentum is too extended, aligning with the overbought RSI.
Sunpepe price is indicating a strong upward move fueled by strong market enthusiasm. However, this parabolic rise is unlikely to be sustainable without a correction. The key resistance level at $0.0042 will be crucial in determining the next phase of the price action. If the price breaks above this resistance, the rally could continue towards new highs in the coming weeks with a target of $0.0072.
Otherwise, a pullback towards the support area around $0.0022 or lower could occur if this fails. Given the overbought conditions and the parabolic nature of the rally, traders should approach this area with caution, anticipating potential volatility and the possibility of a correction.
Pepe Unchained Pre-Sales Surpass $10 Million
Another Pepe derivative that investors are backing is Pepe Unchained (PEPU), which surpassed $10.4 million in funds raised in its presale.
According to 99Bitcoins, a leading crypto YouTube channel with over 706,000 subscribers, $PEPU is one of the best cryptos to buy right now and could potentially surge 100x after its launch.
Pepe Unchained is set to turn meme coins into an asset class by developing its own Layer 2 blockchain.
The project’s Layer 2 network is incredibly fast, 100 times faster than Ethereum.
Pepe is preparing to launch his own layer 2 blockchain solution soon:
🧠 Instant bridging between ETH and Pepe Chain
🧠 Lowest transaction fees
🧠 100x faster transaction speeds compared to ETH
🧠 Dedicated block explorerGet ready to join the future with Pepe Unchained! ⛓️🐸 pic.twitter.com/9gxNnddMyq
— Pepe Unchained (@pepe_unchained) July 18, 2024
It also enables an instant connection between Pepe Unchained and the Ethereum mainnet, allowing traders to move between networks seamlessly and at low cost.
Additionally, the project offers staking rewards with an annual yield of 191% for $PEPU holders, with over 837 million tokens already staked since the protocol’s launch.
Investors have a limited time to purchase the $PEPU token at the current price of $0.0092734 as the price is expected to increase in less than 16 hours.
Buy PEPU tokens on the official website here using ETH, USDT or bank card
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