Pepe Price Dives 16% In A Week, But The Layer-2 Alternative Pepu Unchained Has Just Blasted Past $3 Million

Pepe Price Spikes Amid Bullish Trend Reversal

The Pepe price has experienced a significant surge in the past 24 hours, with a 16% weekly gain. At the time of writing, it trades at $0.000009297, supported by an impressive trading volume of $675 million.

Despite a slight decline in the overall meme coin market, which currently stands at a capitalization of $43 billion, Pepe has defied the trend, demonstrating resilience in the face of market fluctuations.

Double Bottom Pattern Fuels Bullish Outlook

According to data from GeckoTerminal, the Pepe price's recent drop in July found support at the $0.000007409 level, forming a double bottom pattern. This has sparked optimism among traders, who believe the bulls will capitalize on this pattern to initiate a bullish reversal.

Technical Analysis Supports Price Surge

Pepe currently trades above the 50-day Simple Moving Average (SMA), providing support for a short-term price increase. The Relative Strength Index (RSI) indicates strong buying pressure, approaching the overbought region of 70.

Additionally, the bullish crossover between the MACD's blue and orange lines further supports the potential for price appreciation. The histogram's green bars are also growing, suggesting that Pepe is poised for an upward momentum.

Price Prediction

Based on the 1-hour chart analysis, Pepe is poised for a bullish trend reversal, with a target price of $0.000012. Key indicators, such as the RSI and MACD, point to a strengthening buying interest that could push the token towards its目標.

Pepe Unchained: A Promising Alternative

As the Pepe price prepares for a potential rally, investors are also exploring Pepe Unchained (PEPU), an upgraded version of the meme coin. PEPU has already raised over $3 million in early funding and is considered a promising alternative by prominent crypto analysts.

Pepe Unchained seeks to address scalability and efficiency issues prevalent in meme coins built on Ethereum Layer-1 and introduces its own Layer 2 blockchain. The platform also offers a staking system with an impressive 627% APY.