Pepe Price Prediction: PEPE Dives 10% As Investors Pivot To This Layer-2 Derivative For Parabolic Potential

PEPE Price Prediction

Within the last 24 hours, the price of PEPE has plummeted 10%, currently trading at $0.000009684 as of 1:33 a.m. EST, with a corresponding 59% decline in trading volume.

PEPE's sharp drop is attributed to a broader crypto market correction, which saw the market capitalization of the meme coin sector decline by over 7% to $43 billion.

Pepe Price Forecast

Since peaking at $0.000017257 on May 27th, PEPE has exhibited a bearish trend, registering a series of lower highs. This downtrend has driven PEPE into the Fibonacci Golden Zone, a highly volatile trading zone.

If bearish sentiment persists, PEPE could slip beneath the 38.2% Fibonacci retracement level of $0.000009132. A breach of this support level could trigger a further decline towards the 23.6% Fibonacci retracement level of $0.000007212.

Technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) signal waning buyer momentum and bearish pressure.

However, if bulls seize the opportunity to capitalize on the dip, PEPE could experience a rebound. A candlestick close above the 61.8% Fibonacci retracement of $0.000012234 would indicate bullish sentiment.

A strong bullish scenario could propel PEPE to surpass the 78.6% Fibonacci retracement and reach the market range peak of $0.000017257, marking a 78% increase from current levels.

Alternative Investment Option

Amidst the decline in meme coins, traders are exploring presales, with Pepe Unchained (PEPU) emerging as a popular ICO alternative.

According to YouTube channel 99Bitcoins, PEPU is among three meme coins predicted to soar up to 100x after its launch.

Promising Features of Pepe Unchained

PEPU is a layer-2 meme coin that inherits the legacy of its predecessor, PEPE. However, PEPU brings significant upgrades: