Pepe Price Prediction: PEPE Plunges 5% As Investors Flock To This Pepe 2.0 Meme Coin As It Blasts Past $6.5 Million

Pepe Price Surge and Market Analysis

The Pepe price experienced a 5% decrease over the past 24 hours, trading at $0.00001116 as of 01:09 a.m. EST with a 20% reduction in trading volume to $528 million. This decline aligns with a 3% drop in the meme coin sector, resulting in a market capitalization of $47.7 billion.

Technical Analysis

In mid-July, Pepe's price surged through a markup phase, reaching a resistance level of $0.00001251 before consolidating. A horizontal support and resistance pattern emerged, indicating a struggle between bears and bulls.

Currently, Pepe trades above the 200-day Simple Moving Average (SMA), suggesting bullish prospects over the long term. A bullish stance could push the price above the 50-day SMA, which now serves as immediate resistance at $0.00001188.

The Relative Strength Index (RSI) is declining, approaching the 30-overbought region at 34. This indicates intense selling pressure and suggests the asset is undervalued.

4-Hour Chart Analysis

On the 4-hour chart, Pepe is expected to break out of consolidation after reaching the lower boundary of its sideways pattern. With the RSI suggesting undervaluation, buyers may seize this opportunity to push the price towards their target of $0.0000140.

However, if bears persist in selling, Pepe could retrace to a support level of $0.0000090.

Pepe Unchained Presale

Optimism remains high for a price breakout among Pepe bulls, echoing the anticipation surrounding the ongoing presale of Pepe Unchained (PEPU). The project has raised over $6.5 million in funds and recently received a large investment of $200,000 from a whale investor.

According to 99Bitcoins, PEPU is considered one of the best cryptocurrencies to purchase at the moment, with potential for significant gains post-launch.

Pepe Unchained Features

Pepe Unchained aims to address the scalability, speed, and efficiency limitations of meme coins on the Ethereum Layer-1 blockchain by operating on its own Ethereum Layer 2 blockchain. Token holders can also stake their tokens for an annual percentage yield (APY) of 298%.