Pepe Price Prediction: PEPE Plunges 4% As This Layer 2 Pepe Rival Races Towards $6 Million

The Pepe price experienced a sharp 4% decline within the past 24 hours, reaching $0.00001169 as of 11:50 p.m. EST.

Despite an intraday high of $0.00001311, a recent dip led to the meme coin establishing a daily low of $0.00001163. While Pepe has marginally recovered since then, it continues to trade close to its 24-hour low.

Potential for a Significant Move

The Pepe price has been consolidating within a range of $0.00001070 and $0.00001325. This sideways trading period may indicate the potential for a substantial move.

A breakout towards the upside could see Pepe attempting to flip the $0.00001325 resistance into support. A 4-hour candle closing above this threshold could provide the foundation for further upward movement in the subsequent 24 hours, potentially reaching as high as $0.00001516.

Conversely, a wave of sell pressure could push Pepe below the $0.00001070 support and trigger a decline to as low as $0.00000895 in the near term.

Technical Indicators Hint at Further Drop

Technical indicators on Pepe's 4-hour chart suggest a bearish trend, indicating the possibility of a continued price drop within the next 24 hours. The Moving Average Convergence Divergence (MACD) indicator recently triggered a bearish technical flag, while the Relative Strength Index (RSI) also indicates increasing seller strength.

The MACD line has crossed below the MACD Signal line, a sign that traders often interpret as a signal of a short-term negative cycle. The widening margin between the two lines further suggests intensifying bearish momentum.

Meanwhile, RSI readings have declined throughout the past trading day, dropping below the 50 benchmark. This signals that sellers may have gained the upper hand against buyers on Pepe's 4-hour chart.

Presale Success and Layer-2 Capabilities

Despite these bearish technical indicators and Pepe's current sideways trading, there is a significant bullish sentiment surrounding the Pepe Unchained (PEPU) presale, which has raised over $5.2 million.

Pepe Unchained aims to liberate the PEPE token from the congested Ethereum network. With Ethereum's widespread use for decentralized application development, many projects have deployed their tokens on the chain, resulting in high transaction fees and slow speeds.

Pepe Unchained, with its dedicated layer-2 network, offers faster transaction speeds (100 times faster than Ethereum) and significantly lower fees. Moreover, token holders can seamlessly transfer assets between the Pepe Unchained and Ethereum networks.

This dual benefit of enhanced transaction speed and reduced fees has attracted attention from the 99Bitcoins YouTube channel, which predicts a 10X potential for PEPU after launch.

Attractive Yield for PEPU Stakers

Apart from its mission to empower PEPE, the PEPU presale also offers an attractive annual yield of 364% for staking PEPU tokens. Investors who purchase and lock up PEPU during the ongoing ICO can access these high rewards.

To participate, investors can acquire PEPU using the buy widget on the project's website. They can use ETH, USDT, BNB, or bank cards to purchase PEPU, currently priced at $0.0086304.

Potential buyers are encouraged to act swiftly as PEPU's price is projected to increase within 18 hours.