Pepe Price Plunges 6% As Investors Shift Focus To The Chain-Hopping Dogeverse ICO For Parabolic Potential

Pepe Price Drops 6%, Key Support Lost

The Pepe price has plummeted over 6% in the past 24 hours to trade at $0.00001023 as of 12:55 a.m. EST. This decline marks a reversal of its bullish trend over the past month, during which the crypto more than doubled its value with a 113% pump.

Key Support Breached

4-hour chart for PEPE/USD (Source: GeckoTerminal)

The Pepe price dropped below the key support level at $0.00001105 over the past 24 hours. Sellers attempted to push the altcoin's price below the $0.00000982 support as well, but bulls managed to defend the level.

Potential Scenarios

With the Pepe price stabilizing in the last few hours, buyers may identify current levels as a buy entry point. However, sellers could continue to exert pressure on the meme coin.

If bulls re-enter PEPE's charts in the next 12 hours, the crypto could attempt to reclaim the $0.00001105 support. A 4-hour candle close above this threshold could provide the foundation for further upward movement, potentially reaching $0.00001228.

Conversely, if bears continue to sell Pepe, its price could fall below the $0.00000982 support in the short term. This could put the Pepe price at risk of dropping to $0.00000842 in the following 24-48 hours.

Technical Indicators Suggest Risk

Technical indicators on PEPE's 4-hour chart suggest that the meme coin is at the mercy of sellers. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicate potential further decline.

The RSI has been in a negative slope over the past 24 hours, suggesting weakening buyer strength. The RSI remains sloped towards oversold, indicating that this trend may continue.

Additionally, a bearish technical flag was triggered by the MACD indicator on the 4-hour chart. This suggests that PEPE's positive cycle has ended and a new bearish phase has begun.

Alternative Investment: Dogeverse (DOGEVERSE)

Amid the pressure on Pepe, some investors are turning to the multi-chain Dogecoin derivative Dogeverse (DOGEVERSE) for potential gains.

The First Chain-Traveling Meme Coin

Dogeverse is the first meme coin to reside on multiple blockchains, aligning with the industry's push for interoperability. Inspired by Dogecoin, Dogeverse allows investors to explore various chains for yield-generating opportunities, including DeFi protocols on networks like Avalanche, Polygon, Solana, BNB Chain, Ethereum, and Base.

Competitive Staking Opportunity

Dogeverse offers a native staking solution on the Ethereum network with an annual percentage yield of 56%. This makes it an attractive investment option for token holders.

Whale Interest

Whales have been accumulating DOGEVERSE, with one large investor recently purchasing $183,000 worth of the crypto using ETH.

Investment Potential

YouTuber Jacob Crypto Bury believes DOGEVERSE has the potential to generate 100X returns for investors after launch. Investors can still acquire the meme coin through its ICO.

To purchase DOGEVERSE, visit the project's website and use the embedded buy widget. The crypto is available for purchase using BNB, AVAX, SOL, ETH, MATIC, BASE, USDT, or bank cards.

Note that the staking opportunity is only available on the Ethereum chain. Investors must purchase DOGEVERSE using ETH to lock up their tokens for rewards.

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