Pepe Price Prediction: PEPE Plunges 10% Despite Coinbase Futures Launch As This Dogecoin Derivative Charges Towards $11M

The Pepe price plummeted over 10% in the last 24 hours to trade at $0.000007147 as of 1:00 a.m. EST, as investors offloaded their holdings in the meme coin.

PEPE remains in the green on the weekly timeframe with a 44% surge, a performance fueled by Coinbase's listing of PEPE perpetual futures on its platform.

Pepe Price Rejected by Resistance

4-hour chart for PEPE/USDT (Source: TradingView)

After facing resistance at the $0.00000829 level, the Pepe price entered a negative sequence on the 4-hour chart. During the last 24 hours, the meme coin printed lower lows and highs, forming a negative price channel.

PEPE currently rests on the key support level at $0.00000705. If sellers push it below this mark, the Pepe price could fall to $0.00000631 in the upcoming days.

However, if PEPE manages to stay above $0.00000705 for the next 12 hours, the bearish thesis may be invalidated. In this scenario, the crypto will likely attempt to challenge the $0.00000829 resistance level.

A 4-hour candle close above $0.00000829 will provide a strong foundation for Pepe's price to potentially rise in the following 24 hours. Traders may identify this as a long entry, which could push PEPE up to $0.00000910.

Sellers Gain Upper Hand, May Continue to Pull Pepe Price Down

Technical indicators on PEPE's 4-hour chart warn of a continued drop for the Pepe price. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) have triggered major bearish flags.

Over the past 24 hours, the RSI broke below its Simple Moving Average (SMA) line on the 4-hour chart. This is typically seen as a sign that sellers have gained an advantage over buyers, making it easier to pull a crypto's price down.

The MACD line also fell below the MACD Signal throughout the past day of trading, signaling the end of PEPE's short-term bullish period. PEPE now finds itself in a temporary bearish phase.

Additionally, the MACD line is creating a gap between itself and the MACD Signal line. Meanwhile, the RSI is breaking away below the SMA line. Both of these technical flags suggest strengthening sell pressure.

While PEPE battles with sellers, smaller meme coins such as Dogeverse (DOGEVERSE) have seemingly unstoppable bullish momentum. Investors are rushing to buy the new meme coin at this early stage, with over $10.73 million already raised in its ICO.

The Next Dog-Themed Meme Coin to Explode

Inspired by Dogecoin, Dogeverse is the latest dog-themed crypto to enter the meme coin space.

Although its branding has links to the largest meme coin by market cap, Dogeverse is independent from Dogecoin. It sets itself apart by being the first cross-chain token in the meme coin sector.

Deployed on popular blockchain networks including Polygon, Ethereum, BNB Chain, Avalanche, Solana, and Layer 2 Base, DOGEVERSE allows its token holders to seamlessly shift value across multiple networks.

These chains were strategically selected by the team as some of the most active in the crypto market. DOGEVERSE holders will therefore be able to participate in decentralized finance (DeFi) protocols with ease.

Investors can also grow their crypto holdings through staking and other yield-generating opportunities. DOGEVERSE holders can even stake their tokens on the Ethereum blockchain.

With its high utility, branding linked to Dogecoin, and investor frenzy surrounding its presale, DOGEVERSE has the potential to skyrocket after launch.

A Flourishing Presale

DOGEVERSE is already closing on $11 million in funds raised. With the meme coin's price set to increase in just a few hours, investors are scrambling to buy the crypto now before the next phase begins.

Investors who want to buy DOGEVERSE before the next phase can visit the project's website. Currently selling for $0.000301, DOGEVERSE can be bought using various popular payment options.

DOGEVERSE can be purchased and staked for up to 103% in annual rewards here.

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