The Pepe price plummeted over 8% in the last 24 hours to trade at $0.000007532 as of 8:20 a.m. EST.
The Pepe Price Loses Key Support
4-hour chart for PEPE/USDT (Source: TradingView)
The Pepe price broke below the key support level at $0.00000802 to also fall below a positive trend line over the past 12 hours. As a result, the meme coin is at risk of correcting down to the next significant mark at $0.00000712 in the upcoming 48 hours. Should it reach this point and sellers continue to exert pressure on the altcoin, PEPE may drop to as low as $0.00000631 in the short term.
This bearish thesis could be invalidated if the Pepe price manages to close a 4-hour candle above $0.00000802 in the coming 24 hours. In this alternative scenario, buyers may attempt to boost the crypto’s value to the next major technical obstacle at $0.00000928 in the following couple of days.
Technical Flags Warn Of A Continued Pepe Price Correction
Technical indicators on PEPE’s 4-hour chart suggest the Pepe price may keep falling in the next 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are flagging bearish.
This is after the RSI crossed below its Simple Moving Average (SMA) line on the 4-hour chart in the last 24 hours. Traders tend to view this technical occurrence as a sign that sellers have gained the upper hand against buyers, and the prior will continue to force the crypto’s price down.
In addition to this, the MACD is on the verge of triggering a major bearish technical flag as the MACD line collapses towards the MACD Signal line. An intersection between these two lines in the coming few hours could signal that PEPE has entered into a temporary bearish cycle.
While the Pepe price is at the mercy of sellers, Dogecoin20 looks on track to take the meme coin space by storm as investors flock to its presale.
This Meme Coin Could Continue DOGE’s Legacy
Since its launch in 2013, Dogecoin has become a staple in the crypto market. Starting out as a joke, DOGE has built quite the reputation and following in the digital asset market.
So much so that it even became the favorite meme coin of tech billionaire Elon Musk. US crypto exchange Coinbase has also recently announced that it will list DOGE futures soon.
But Dogecoin has not undergone any real technological or branding updates since its original development team abandoned the project shortly after its launch. Dogecoin20, an Ethereum-based alternative to the leading meme coin, is looking to change that.
🚀 #DOGE20 isn't just another Shiba Inu-inspired derivative.
Upholding Dogecoin’s ethos to Do Only Good Everyday, it offers passive rewards through on-chain staking. 🌱🌟
Embracing a greener, more sustainable future with the most widely loved #Memecoin in the world! 🐶 pic.twitter.com/zqlONodRPB
— Dogecoin20 (@DOGE_COIN20) March 14, 2024
Being launched on Ethereum’s Proof of Stake blockchain, Dogecoin20 presents a more eco-friendly version of the beloved meme coin, which still runs on the legacy Proof of Work consensus.
As an ERC-20 token, Dogecoin20 also gives its token holders access to a native staking solution, which is currently offering a whopping 166% in annual rewards.
Higher Growth Potential Than DOGE
DOGE’s growth potential has been restricted by the absence of a supply ceiling. This is why Dogecoin20’s team has capped the newer meme coin’s supply.
As demand for Dogecoin20 grows, the fixed supply could result in Dogecoin20’s price skyrocketing. Investors are starting to catch on to this realization, and are betting big on Dogecoin20’s potential to explode as a result.
This is evident by its presale, which has just blasted past the $6 million milestone in just slightly more than a week.
Anyone looking to buy into the potential Dogecoin killer at this early stage can do so by navigating to the project’s official website.
Selling for just $0.000206, Dogecoin20’s native token, DOGE20, can be bought using ETH, USDT, or bank card. BNB is also available as a payment option for investors who do not want to pay high Ethereum network fees.
Investors will want to hurry, as the meme coin’s price is set to increase in less than three days. There’s also a risk that it sells out first.
DOGE20 can be purchased here.
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