PepeCoin Surges 101% in a Week

The PepeCoin (PEC) price has skyrocketed by 101% in the past week and nearly 67% in the last 24 hours, trading at $5.145 as of 9:06 p.m. EST, according to CoinGecko. This surge makes PEC the biggest gainer among major cryptocurrencies in the past week.

Sustained Rally with Bullish Momentum

PepeCoin has been consolidating between $1.7 and $2.4 since October. However, in the past four days, it has gained significant momentum, rising parabolically, indicating potential for continued price increases.

Technical analysis supports the bullish outlook. PEC is trading above both the 50-day and 200-day Simple Moving Averages (SMAs), forming a golden cross around $2.60. The Relative Strength Index (RSI) is at 84, suggesting intense buying pressure and potential overvaluation.

The Moving Average Convergence Divergence (MACD) also indicates bullish sentiment, with the blue MACD line crossing above the orange signal line.

Resistance and Support Levels

If the current momentum continues, PEC could reach $5.5, the next potential resistance level. However, the overvalued RSI may indicate that a correction is possible, potentially driving the price down to $3.2, a previous resistance level.

Pepe Unchained: A New Derivative with Potential

Investors are also flocking to Pepe Unchained (PEPU), a more sophisticated Pepe derivative. YouTube channel 99Bitcoins, with over 706K subscribers, believes PEPU has the potential for a 100X increase post-launch.

PEPU's Features and Benefits

PEPU is built on its own Layer 2 blockchain, aiming to free Pepe from the Ethereum network's limitations. The Pepe Chain network offers faster speeds, lower transaction costs, and improved scalability.

PEPU has also introduced Pepe's Pump Pad, a meme coin launchpad that aims to establish Ethereum as the hub of the meme coin world. Additionally, the platform provides 93% annual rewards for staked PEPU tokens.

Conclusion

PepeCoin's recent surge has positioned it as a major player in the cryptocurrency market. While its price may experience corrections, the technical indicators and market sentiment suggest that the bullish momentum is likely to continue. Pepe Unchained, with its unique features and potential for growth, is also worth considering for investors seeking diversification or exposure to meme coins.