The Pepe price soared 10% in the last 24 hours to trade at $0.00001092 as of 11:50 p.m. EST on trading volume that rose 84% to $3.79 billion.
This comes as the Crypto Fear & Greed Index shifts to a reading of ”Greed,” currently at 64, indicating that investors are less risk averse and eager to buy more amid a fear of missing out.
Pepe Price Set To Register A New ATH Over The Bullish Pennant
PEPEUSD Chart Analysis Source: GeckoTerminal.com
The Pepe price has been on a tear in the last month, rising 113% to a new all-time high (ATH) of $0.0000118 on May 14, data from GeckoTerminal shows.
The price has been fluctuating within this level, with the $0.00000886 mark serving as a support for the bulls to keep pushing the price above.
PEPE currently trades above both the 50-day and 200-day Simple Moving Averages (SMAs), a confirmation of the bullish potential to the upside.
Moreover, the Relative Strength Index (RSI) is rebounding from the 50-midline level, currently above the 70-overbought region at 71, an indication of intense buying pressure and continued optimism from investors.
The Moving Average Convergence Divergence (MACD) is also bullish, with the MACD line crossing above the orange signal line, which forms a bullish crossover. PEPE bulls could capitalize on this to further push the price higher.
The green bars on the histogram also form above the zero line, a signal to buy as PEPE is on a positive momentum. This is further supported by the Average Directional Index (ADX) trading at 40, which shows that PEPE is currently on a very strong bullish trend.
PEPE Price Prediction
The Pepe price analysis indicates that PEPE has very strong bullish momentum as the bulls aim to sustain the momentum above the bullish pennant.
Major indicators, including the RSI, MACD, and ADX, show that the price is on a positive trajectory, which could see PEPE soar to a new ATH, with the current target set at $0.000014.
The 50-day trades above the 200-day SMA, forming a golden cross at $0.00000684, which further encourages the bulls to propel the price to a new ATH.
However, with the recent price surge, the bears could start booking profits, which could push the price down to the support zone around $0.00000886, coinciding with the 50-day SMA.
As the PEPE bulls aim to push the price to a new ATH, other investors are exploring Sponge V2, a token that aims to repeat the feat of its predecessor, Sponge V1, which recorded 100X returns last year in a bear market. At its peak, SPONGE reached a market capitalization of $100 million.
This is why crypto analysts like Crypto Boy say that Sponge V2 has the potential to soar 100X after its imminent launch on top-tier exchanges.
Sponge V2: Potential For 100X Returns
If you missed the Sponge V1 surge in 2023, there is a second chance with Sponge V2 (SPONGE V2), which aims to repeat that same feat and more as it offers a last chance to buy before its launch on major exchanges.
Who’s ready for the $SPONGE? 💦💛#SpongeV2 #CryptoCurrency #Alts pic.twitter.com/JtWn1QFF8a
— $SPONGE (@spongeoneth) May 13, 2024
The token’s listing aims at enhancing $SPONGE V2’s accessibility and visibility within the crypto community.
The sequel comes as an upgraded version of Sponge V1, promising more significant rewards and a better ecosystem.
You can't stop $SPONGE 🧽 🔥 #SpongeV2 #PEPE #FLOKI #WIF pic.twitter.com/j08GbqOwVj
— $SPONGE (@spongeoneth) May 2, 2024
One of the key features that Sponge V2 brings is a staking system, offering an annual percentage yield of 163% on Ethereum and 335% on the Polygon network.
The platform is also set to launch a play-to-earn racer game, available in both paid and free versions, where users get to engage in racing competitions and earn token rewards.
It’s almost time, #SPONGERS! 🧽 🤩
The $SPONGE #Presale will conclude later this month, with the claim anticipated to go live at the end of May! 🔥
More information coming tomorrow. Stay tuned!#SpongeV2 #Crypto #MemeCoin pic.twitter.com/ZGbpJDhKW9
— $SPONGE (@spongeoneth) May 14, 2024
With the presale closing at the end of this month, now is the ideal time to buy.
To participate in the presale, you can buy Sponge V2 tokens on the official website here. Link your digital wallet to swap your ETH or USDT for V2 tokens. You can also buy directly using your bank card.
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