Is It Too Late To Buy SPIKE? Spike Price Surges 16%, And This Might Be The Next Crypto To Explode

Spike Price Surges, Signaling Potential Bullish Reversal

The Spike token (SPIKE) has experienced a significant price increase of 16% within the past 24 hours, reaching a value of $0.03412 at 6:15 p.m. EST. This surge was accompanied by a 5% jump in trading volume, bringing it up to $7.3 million.

Historical Significance of Spike

According to the project's website, Spike holds the distinction of being the inaugural drawing created by Matt Furie, the artist behind the popular Pepe the Frog meme. The website emphasizes the historical significance of original creations in the crypto realm:

"In crypto, it is always the original that ends up being the most valuable. Cryptopunks, Ethereum, Bitcoin. The first is always rewarded... while everything after it is seen as a form of derivative."

Technical Analysis: Falling Wedge Pattern and Indicators

Following an initial rise to a resistance point of $0.04354, the SPIKE price has retreated slightly, forming a falling wedge pattern. This pattern is often interpreted as a bullish sign, indicating the potential for a trend reversal.

SPIKE is currently trading below the 50-day Simple Moving Average (SMA) but maintains a position above the 200-day SMA, suggesting some level of positive momentum.

The Relative Strength Index (RSI) has dipped slightly from an overbought zone of 70 to 46, while the MACD indicator supports the bearish trend with diminishing green bars. However, the MACD remains above the neutral line, suggesting a possible recovery in favor of the bulls.

Spike Price Prediction: Bullish Rally Expected

The falling wedge pattern and technical indicators point towards a potential bull run for SPIKE. The price may target a previous high of $0.04354 and potentially reach new heights of $0.05372 in the coming weeks.

However, if bears gain control, the price could fall to the support level of $0.03286, aligned with the 200-day SMA. A further decline could lead to a retest of the wedge's upper trendline at $0.02919.

Pepe Unchained ($PEPU) Presale Surpasses $2.4 Million

Another rising meme coin is Pepe Unchained ($PEPU), which has garnered over $2.4 million in its presale. Pepe Unchained differentiates itself with its Layer 2 network, boasting faster transaction speeds, enhanced scalability, and reduced fees. This network opens up new possibilities for the PEPE token.

Early Adopter Incentives and Potential Returns

Early investors in Pepe Unchained have the opportunity to purchase the token at a discounted price of $0.0082927, as well as participate in a staking opportunity with an enticing 783% Annual Percentage Yield.

Crypto YouTuber Jacob Bury has suggested that Pepe Unchained could emerge as the next 10x PEPE derivative. Those interested in investing can acquire PEPU tokens using ETH, USDT, BNB, or bank cards. A price increase is anticipated within the next two days, so interested parties are encouraged to act promptly.