Pepe Price Prediction: PEPE Pumps 4%, But Investors Flock To This 2.0 Dogecoin For Parabolic Gains

The Pepe Prize motivated up more than 4% in the last 24 hours to trade at $0.000007668 as of 2:05 a.m. EST as investors go long on the meme coin.

PEPE’s latest gain comes as the overall meme coin market rose 1% over the same period, reaching a market capitalization of $63.8 billion, according to CoinMarketCap..

The Pepe Price is rejected by resistance

4-hour chart for PEPE/USDT (Source: Trading view)

The Pepe The price was rejected by the $0.00000791 resistance level over the past 24 hours, causing the meme coin to fall out of a short-term positive price channel that had also formed on the charts. If the crypto fails to close a 4-hour candle above this threshold within the next 12 hours, it may risk testing the immediate support level at $0.00000693 in the next 48 hours. Continued selling pressure if PEPE were to reach this point could then push it towards the next barrier at $0.00000623.

On the other hand, closing a 4-hour candle above $0.00000791 within the next 12 hours could see Pepe Price debunk the bearish thesis. PEPE could then attempt to re-enter the rising price channel, which could lead it to attempt to break the $0.00000859 barrier in the near term.

Tech experts warn bears could gain control of Pepe Price

The technical indicators on PEPE’s 4-hour chart are still bullish despite the recent rejection. However, from a technical perspective, there has been a notable reduction in the meme coin’s positive momentum. The Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are both poised to potentially trigger major bearish technical flags.

Buyers still have a slight advantage over sellers, which is reflected by the position of the RSI line above the Simple Moving Average (SMA) line on the 4-hour chart. However, the decline from the former towards the latter warns that bears could soon take control of the Pepe price. This can be confirmed when the RSI line crosses below the SMA line.

In the meantime, PEPEs The positive momentum also appears to have peaked and then cooled down. The MACD line breaking off towards the MACD signal line confirms this. These two lines crossing over the next few days could indicate a momentum shift that favors bears.

The recent rejection of PEPE could be a result of several traders taking profits from the meme coin’s rally. Given the extra cash on hand, these traders will most likely try to reallocate their funds to another crypto with higher growth potential.

With launch less than two weeks away, Dogecoin20 could be the main recipient of this capital, as the meme coin marks the first major upgrade to the DOGE brand and underlying technology.

Continuing the legacy of the original Meme Coin

Since its launch in December 2013, Dogecoin underwent a meteoric rise to become the largest meme coin by market capitalization. Its dedicated community of loyal followers and light-hearted nature inspired a cultural movement within the crypto space and formed the foundation of the meme coin industry.

However, Dogecoin’s original developers abandoned the meme coin shortly after its launch. This is one of the main reasons why the original meme coin never really developed from a technological perspective.

Dogecoin20, which raised over $10 million much sooner than its developers expected, aims to modernize the beloved crypto through a series of much-needed upgrades.

$10 Million Raised and Growing: Why Dogecoin20 Goes Viral Before Dog Day?https://t.co/Op6F4Gbeol

— John Morgan (@johnmorganFL) April 1, 2024

The most notable difference between Dogecoin and Dogecoin20 is that the new meme coin will be launched on the Ethereum network, which relies on the Proof of Stake consensus.

This is not only more environmentally friendly than the Proof of Work mechanism that Dogecoin uses, but also allows holders of Dogecoin20 (DOGE) to stake their tokens via a native solution. By staking tokens, investors can…An annual return of 51%, with 55.3 billion tokens already deployed.

Dogecoin20 also has a fixed supply, while the older Dogecoin does not. This, according to the team, has hindered Dogecoin’s growth potential and is the reason DOGE has not exploded above $1 even with the large following it has amassed over the years.

One last chance to buy before launch

Given the success of Dogecoin20’s pre-sale, the team behind the meme coin has decided to give investors one last chance to purchase the crypto before launch. On April 20, also International DOGE Day, investors who purchased the meme coin during the current pre-sale phase can claim their tokens.

This historic day has led to DOGE price increases in the past. Now, investors are bracing for a possible explosion in Dogecoin20’s price as the meme coin tries to continue DOGE’s legacy.

Anyone interested in purchasing DOGE20 ahead of its launch can do so on the project’s website. DOGE20 tokens are sold for $0.00022 each and can be purchased with ETH, USDT, BNB or a bank card.

DOGE20 can be purchased here.

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