Pepe Price Prediction: PEPE Plunges 16% Amid The Crypto Crash, But This Pepe 2.0 Secures $7.3M In Funding

Pepe Price Plunges Amidst Market Volatility

The price of Pepe has plummeted 16% in the past 24 hours and 40% in the last week, currently trading at $0.000007032 as of 00:48 AM EST. This decline comes alongside a $500 billion loss in the crypto industry's market capitalization and a 19% drop in the meme coin sector following the Bank of Japan's interest rate hike.

Bearish Outlook for Pepe

Data from GeckoTerminal indicates that Pepe's price has been falling since July 30, forming a descending channel pattern. The bears currently dominate, with the price trading below both the 50-day and 200-day Simple Moving Averages (SMAs).

The Relative Strength Index (RSI) has also fallen below the 30-oversold level to 22, indicating intense selling pressure and undervaluation. Further selling could drive the price to its next support level at $0.0000060.

Potential for Recovery

Despite the bearish trend, Pepe's undervaluation could attract investment and push the price back towards the upper boundary of the descending channel. The bulls aim to reach the resistance point at $0.000010522 (200-day SMA).

Pepe Unchained Presale

Amidst the price drop, meme coin enthusiasts are investing in Pepe Unchained (PEPU), a derivative of Pepe. PEPU has raised over $7.3 million in its ongoing presale. The project aims to improve upon Pepe's scalability, speed, and efficiency by utilizing its own blockchain.

Token holders can earn passive income through PEPU's staking system, offering an annual percentage yield (APY) of 267%. Investors can purchase PEPU tokens for $0.008875 each before a price increase in approximately 7 hours.