Pepe Price Prediction: PEPE Plummets 6% As Experts Say This Layer-2 Alternative Might Be The Best Meme Coin To Buy Now

Pepe Price Fluctuates, Poised for Reversal

The Pepe price has dipped by 6% over the past 24 hours, currently trading at $0.000007205 with a trading volume that has surged by 36% to $748 million.

This decline coincides with a 3% drop in the overall meme coin market capitalization, which now stands at $41 billion.

Pepe Price Analysis

Technical analysis indicates that Pepe may be poised for a bullish trend reversal. The inverse head-and-shoulders pattern, as observed on GeckoTerminal's data, fueled a recent rise to the $0.0000080 resistance level.

However, bears have since seized control, driving the asset into a downtrend that remains within the $0.00000720 support level, coinciding with the two shoulders of the aforementioned pattern.

The downtrend has pushed Pepe's price below both the 50-day and 200-day Simple Moving Averages (SMAs). Additionally, the Relative Strength Index (RSI) has fallen beneath the neutral line, currently at 36, indicating intense selling pressure and potential undervaluation.

Key Levels

Bulls may see this undervaluation as a buying opportunity, targeting a bullish trend reversal to push Pepe's price back to the $0.0000080 resistance level.

Conversely, if Pepe's price continues to slide, the $0.0000065 level may offer support against further downward pressure.

Pepe Unchained Presale Success

Meanwhile, investors are flocking to Pepe Unchained (PEPU), a new Pepe alternative that has raised over $13.4 million in its presale, making it one of the most successful of the year.

PEPU differentiates itself by introducing its own Layer 2 chain atop Ethereum's network, offering faster speeds, improved scalability, and lower fees. Token holders can also earn passively through its staking system, which offers an APY of 153%.

The PEPU token is currently available for purchase at $0.0097284 each, with a price hike expected within the next day.