Pepe Price Prediction: PEPE Plunges 5% As Investors Pivot To This Dogecoin Derivative And Its 111% APY

Pepe Price Prediction

Over the past 24 hours, the price of Pepe has declined by 5% to $0.00001434, with trading volume dropping 36% to $903 million. This corresponds with a 1% decrease in the meme coin market capitalization to $64 billion.

Technical Analysis

Pepe has experienced a bullish trend in the past month, reaching an all-time high (ATH) of $0.00001717 on May 27. Currently, Pepe is holding within a bullish pennant pattern. The current retracement has seen the bulls retreat to a support level of around $0.00001411.

Pepe is trading below the 50-day Simple Moving Average (SMA) but remains well above the 200-day SMA. The Relative Strength Index (RSI) is trending downward towards the 30-oversold level.

Bullish Outlook

If the bulls can sustain their momentum, they may break out of the pennant pattern and push Pepe to a new ATH. A breakout could potentially target a price of $0.00002151.

Bearish Outlook

Conversely, if the bears maintain the bearish pressure, Pepe could breach the lower boundary of the pennant and decline towards a support zone near $0.00001208, which aligns with the 200-day SMA.

Alternative Investment

While Pepe bulls seek buying signals, investors are showing interest in PlayDoge (PLAY), a play-to-earn (P2E) game that has raised over $2.8 million in its presale. PlayDoge offers a P2E experience where users can care for a virtual pet and earn $PLAY tokens. Token holders can also stake $PLAY for an annual percentage yield (APY) of 111%.