Pepe Price Surges 12%
The Pepe cryptocurrency has experienced a significant surge in value, rising 12% over the past seven days. At the time of writing at 01:35 a.m. EST, Pepe trades at $0.00001243, marking a gain of almost 1% within the past 24 hours.
Meme Coin Recovery
The increase in Pepe's price aligns with a broader recovery trend in the meme coin sector. The sector's market capitalization has surged by approximately 4% in the past 24 hours, reaching $48.6 billion.
Pepe Price Prediction
Pepe's price trajectory exhibits a bullish bias, with the cryptocurrency trading well above the descending parallel channel's lower boundary. The critical support at 61.8% Fibonacci retracement level of $0.00001224 acts as a support floor. Given these factors, an upside momentum for Pepe remains likely.
A sustained close above the 78.6% Fibonacci retracement level of $0.00001445 would signify a robust move beyond the Fibonacci indicator's trendline. This would invigorate buyer interest and increase upward momentum, potentially leading to further price appreciation.
Technical Indicators
The Relative Strength Index (RSI) indicates bullish sentiment, as it remains above the mean level of 50. Pepe's Moving Average Convergence Divergence (MACD) reinforces this positive outlook, generating a buy signal when it moved above the signal line.
Pepe Unchained
Despite Pepe's positive performance, the YouTube channel 99Bitcoins suggests that the new ICO Pepe Unchained (PEPU) is among the three most promising cryptocurrencies to invest in. Additionally, PEPU is said to have the potential to soar 100X after its launch.
Promising Alternative to Pepe
Pepe Unchained is the first Pepe derivative to operate on its own proprietary Ethereum Layer 2 blockchain. This architecture aims to address the scalability, speed, and efficiency limitations commonly associated with meme coins built on the Ethereum Layer-1 blockchain.
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