The Pepe Price Plunges 7% As Experts Say This P2E Doge Derivative Might Be The Best Meme Coin To Buy Now

Pepe Price Falls Over 7%

In the wake of investors unloading their holdings, the Pepe price has declined by more than 7% over the past 24 hours, trading at $0.00001185 as of 12:00 a.m. EST.

Over the past week, the PEPE price has plummeted by more than 17%, although it remains up by over 18% in the last month.

Pepe Price Breaches Support Level

(Source: GeckoTerminal)

Over the past 24 hours, the Pepe price has fallen below the crucial support level of $0.00001282. As a result, PEPE is now in danger of falling to the next level of support at $0.00000953. If continued selling pressure forces the meme coin below this point, the Pepe price could potentially fall as low as $0.00000738 in the near term.

However, this bearish scenario could be nullified if PEPE manages to close a 4-hour candle above $0.00001282 within the next 24 hours. Traders may then consider entering a long position in the meme coin, potentially driving the Pepe price towards the next major resistance level at $0.00001535.

In a highly bullish scenario, PEPE could potentially reverse the resistance at $0.00001535 into support, providing a robust technical foundation for further growth, possibly reaching $0.00001889.

Technical Indicators Signal Bearish Sentiment

Technical indicators on PEPE's 4-hour chart suggest that the price may continue to decline in the next 24 hours. Notably, the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators are flashing bearish signals.

The RSI has dipped below 50, which traders often interpret as a sign that bears are gaining an edge over bulls. If sellers capitalize on this advantage, it will be more feasible for them to pull the Pepe price down over the next 24 hours than for buyers to push it up.

Meanwhile, the MACD line has crossed below the MACD Signal line, indicating a negative short-term cycle for PEPE. The growing divergence between the MACD line and the MACD Signal line suggests that bearish momentum is strengthening.

If these technical signals hold true, the Pepe price could soon reach the $0.00000953 support level.

Given the risk of Pepe price further declines in the coming hours, traders may consider exploring presale meme coins that are yet to enter the open market.

One such coin is PlayDoge (PLAY), which has raised over $4 million in funding in just over two weeks since its ICO launch.

PlayDoge: A Modern Tamagotchi with Earning Potential

PlayDoge is a play-to-earn meme coin project that aims to introduce a modernized version of the popular Tamagotchi game to the market.

Leveraging blockchain and crypto technology, the project introduces a tokenization element that rewards players for nurturing their virtual pets. Unlike the original game, PlayDoge is optimized for mobile devices, allowing players to interact with their digital companions on the go.

Potential for High Returns

A recent analysis by a Cryptonews analyst highlighted PlayDoge's promising potential, predicting a potential 100x return on investment.

Early investors have shown significant interest in PLAY, contributing over $4.2 million to its ICO. Apart from its speculative potential, token buyers will also have access to lucrative staking opportunities offering an annual yield of up to 201%.

To participate in these rewards, investors can purchase PLAY through the user-friendly widget on the project's official website. The token is currently priced at $0.00507 and can be purchased using ETH, USDT, BNB, or bank cards.

Investors are advised to act promptly as the meme coin's price is set to increase in a few hours.

Purchase and stake PLAY here before its next price increase: [Link to PlayDoge Website]