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The Pepe price has increased by 13% in the last 24 hours to trade at $0.00001170 as of 2:33 a.m. EST, trading volume increased 78% to $940 million.
This comes as the meme coin market rebounded over the past 24 hours with a 6% increase to a market cap of $47 billion, with the top meme coin titans, DOGE and SHIB up 3% and 2% respectively over the past 24 hours.
Pepe Price is poised for a bullish rally across the descending triangle
After reaching an all-time high (ATH) of $0.000017, Pepe price is in a downtrend and trading within a descending triangle pattern, according to data from GeckoTerminal. The trend indicates that sellers have been more aggressive than buyers as the price continued to reach lower highs.
However, the trend has recently narrowed, with the current open interest (OI) for PEPE increasing by 17%, according to Coinalyse facts. Investors are now expecting a breakout above the horizontal support level around $0.00001070.
Now that the bulls are using the support level, they have finally crossed the 50-day Simple Moving Average (SMA), an indication that the PEPE price may be gearing up for a major rally. If this trend continues, Pepe’s price could clear the 200-day hurdle around $0.00001331.
The Relative Strength Index (RSI) is recovering from oversold levels as it crosses the 50 midline level to currently trade at 56. With the RSI soaring, it appears that the buyers have the upper hand, and if this continues, the token could rise. higher.
Furthermore, the Moving Average Convergence Divergence (MACD) is also bullish, with the blue MACD line crossing the orange signal line, representing a bullish crossover. Since the green bars on the histogram extend beyond the neutral line, Pepe price is in positive momentum.
Pepe Price Prediction
According to the price analysis on the 4-hour chart, Pepe price is showing a bullish bias, with the bulls aiming to push the token over the descending triangle, currently targeting $0.000020.
However, in a reverse scenario, if the bears take control of the price at this level, the price of PEPE could break the horizontal line to the next support zone around $0.00000896.
As the PEPE price rises, other meme coin enthusiasts are also buying the alternative, Pepe Unchained (PEPU), which has raised more than $620,000 in just a few days.
Pepe Unchained Raises 620K in Less than a Week – Best PEPE Alternative to Buy Now?
Since its inception last year, Pepe has continued to rule the charts despite a wave of upcoming meme coins.
However, Pepe was originally built on the Ethereum blockchain, which is mainly hampered by network delays and rising gas fees.
The new player, Pepe unleashed, is based on PEPE planning to break out of its chains and embrace the future with Pepe Unchained. PEPU will run on its own proprietary Ethereum Layer 2 blockchain.
Who needs brain powder?
Pepe is getting ready for the official launch of his own blockchain! 🚀 pic.twitter.com/kZC72UmxFy
— Pepe Unchained (@pepe_unchained) June 20, 2024
As a result, the project will finally address the scalability, speed, and efficiency issues that often plague meme coins built on the Ethereum Layer-1 blockchain.
$PEPU holders can also earn passively via the platform’s staking systemwhich offers an annualized yield (APY) of 3,700%.
According to 99Bitcoins, a prominent crypto channel on YouTube, $PEPU is one of the best cryptos you can buy right now. It adds that the token could potentially rise 100x after launch.
You can buy $PEPU tokens for $0.008032 each. With a price increase coming in less than 17 hours, buy quickly to get the best deal.
To participate in the presale, buy $PEPU here on the official website with ETH, USDT or a bank card.
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