Pepe Price Prediction: PEPE Plunges 7% As Investors Rush To Buy This Dogecoin Derivative Before Time Runs Out

Pepe Price Drops over 7% Amidst Sell-Off

The value of Pepe has experienced a significant decline of more than 7% over the past 24 hours, reaching $0.00001511 as of 12:40 a.m. EST due to investors disposing of their holdings in the meme coin.

Recent Correction: Profit-Taking or Bearish Trend?

The recent downward correction may be attributed to traders realizing their earnings following PEPE's robust performance throughout the past month. However, despite the 24-hour drop, PEPE remains in the green, having gained over 105% in the last 30 days.

Technical Analysis: Support Breached and Potential Recovery

4-hour chart analysis reveals that the Pepe price has breached a crucial support level at $0.00001534. Bulls have since attempted to reverse the trend by pushing the price back above this mark.

• If PEPE successfully recaptures the $0.00001534 support within the next 12 hours, it could regain the momentum necessary for further gains. This may lead to a rise towards $0.00001758 in the coming days.
• Conversely, a rejection at $0.00001534 could invalidate the bullish outlook, potentially causing a decline to the immediate support level at $0.00001273.

Technical Indicators Hint at Potential Reversal

Technical indicators on PEPE's 4-hour chart suggest that bears currently have an advantage:

• The Relative Strength Index (RSI) is below 50, indicating that sellers hold more strength than buyers.
• The Moving Average Convergence Divergence (MACD) line has crossed below the MACD Signal line, signaling a short-term bearish phase.

However, these indicators are showing early signs of a potential bullish reversal:

• The RSI value has been gradually increasing, suggesting that buyers are gaining momentum.
• The gap between the MACD and MACD Signal line is narrowing, potentially indicating that the negative cycle is nearing its peak.

Dogeverse: A Multi-Chain Meme Coin

While PEPE consolidates, investors are showing interest in the Dogeverse (DOGEVERSE) presale, which is entering its final stages. Dogeverse is the first meme coin to operate on multiple blockchains, including Solana, Avalanche, and Ethereum, enabling seamless value transfer across networks.

• Dogeverse's cross-chain capabilities and appeal within the meme coin community have attracted over $15 million in its ICO.
• Staking DOGEVERSE offers high yields of up to 45% APY.
• The presale ends on Jun. 3, with the token launch scheduled for Jun. 5.