Pepe Price Prediction: PEPE Plunges 7% In A Week As This P2E DOGE Derivative Comes Within A Whisker Of $5 Million

Pepe Suffers 7% Price Drop, Analysis Points to Bearish Trend

The Pepe coin has experienced a significant price decline in the past week, with a 3% loss within the last 24 hours, dropping its current trading price to $0.00001094. This recent loss has plunged PEPE into the red over the past month.

Pepe Price Breaches Support Level

A 4-hour chart for PEPE/USD reveals an attempt by the coin to break above a downward trend line. Despite briefly exceeding this threshold, resistance at $0.00001216 caused PEPE to fall back below the trend line.

Traders sold PEPE below $0.00001105, its immediate support level. If PEPE fails to recover above this level within the next 12 hours, it may face further declines to as low as $0.00001002.

However, a close above $0.00001105 in the next 12 hours could invalidate the bearish outlook, potentially directing the price towards the trend line.

Technical Indicators Signal Bearishness

Technical indicators on PEPE's 4-hour chart suggest a continuation of the downward trend in the next 24 hours. Both the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) indicators indicate bearishness.

The RSI line falling below 50 suggests that sellers have gained control, while a potential MACD crossover could signal a negative short-term phase for PEPE.

PlayDoge Presale Nears $5 Million as Meme Coin Trend Continues

Amidst the technical challenges faced by PEPE, the presale for PlayDoge (PLAY), a Play-to-Earn Dogecoin derivative, is approaching the $5 million mark.

PlayDoge aims to capitalize on the popularity of meme coins and the growing blockchain gaming sector by incorporating tokenized rewards into the iconic Tamagotchi gameplay.

Competitive Staking Rewards for ICO Buyers

Investors are showing interest in PLAY during its presale phase, attracted by a 142% APY staking opportunity for ICO buyers. Investors can participate by using the buy widget on the project's website, which accepts ETH, USDT, BNB, or bank cards.

Upcoming Price Increase

Investors are encouraged to purchase PLAY before its price is scheduled to increase in two days.