The Pepe price plunged over 12% in the last 24 hours to trade at $0.00002331 as of 10:06 p.m. EST as investors offload their holdings in the meme coin on the market.
Despite the steep correction, PEPE’s positive weekly performance remains intact with a 13% pump.
Pepe Price Slips Below A Key Support
4-hour chart for PEPE/USD (Source: GeckoTerminal)
The Pepe price recently dipped below the key support level at $0.00002398 in the last couple of hours. Should the meme coin close a 4-hour candle below this mark in the next 12 hours, PEPE could stand the risk of plunging down to the subsequent mark at $0.00001953.
On the other hand, the Pepe price closing the next 3 4-hour candles above $0.00002398 might bring an end to PEPE’s price drop. In this alternative scenario, the meme coin could rebound and start to rise toward the $0.00002864 resistance level. A break above this barrier might then lead to the meme coin climbing to as high as $0.00003309 in the short term.
Bears Might Push The Pepe Price Even Lower
From a technical perspective, indicators on PEPE’s 4-hour chart warn that the meme coin’s price could continue to fall in the coming 24 hours. Relative Strength Index (RSI) readings have dropped to below the neutral 50 benchmark, which suggests sellers are currently stronger than buyers. The negative slope of the RSI line warns bears could grow even stronger as well.
Meanwhile, a major bearish technical flag was triggered by the Moving Average Convergence Divergence (MACD) indicator in the last few hours. During this period, the MACD line crossed below the MACD Signal line. This technical event is often seen as an indication that a crypto has entered a negative short-term trend.
If these technical warning signs influence traders’ decision making through the course of the next 24 hours, PEPE could end up plummeting to the aforementioned $0.00001953 support.
As PEPE clings to a key support level, investors are flocking to buy new meme coin rival Wall Street Pepe (WEPE) for potential parabolic gains.
Enabling Smaller Traders To Trade Like A Pro
Wall Street Pepe (WEPE) is a new meme coin project that is on a mission to empower small retail traders and provide them the necessary tools and insights to trade like a pro. Up until now, the crypto charts have been dominated by whales who share their next moves in secret and difficult-to-join groups.
With its rapidly growing WEPE Army, Wall Street Pepe will serve as a vital source of market information for retail traders looking to elevate their game. By joining the group, traders will unlock access to exclusive market insights and all of the future alpha calls.
Becoming part of the WEPE Army is simple. All investors have to do is purchase the WEPE token. Once bought, the WEPE token also gives holders the opportunity to grow their crypto portfolios passively with a 156% annual staking yield currently on offer to anyone who buys and locks up the meme coin now.
In addition to the attractive staking opportunity and a chance to join the WEPE Army, several crypto experts say the WEPE token has great speculative potential as well. Among them is ClayBro, who told his over 133K subscribers that the meme coin could mint the next crypto millionaires.
An Investor Frenzy Erupts Around WEPE’s Ongoing Presale
Wall Street Pepe has raised over $3.5 million through its ongoing presale so far, signaling a lot of investor confidence in the project’s future. With its mission to take on crypto whales and empower smaller traders, as well as its meme coin appeal and the bullish predictions by crypto experts, it’s easy to see why investors are rushing to buy WEPE.
Wepe army just smashed through $3M. Big green energy. Bigger green bags. 🐸⚔️ pic.twitter.com/f4id36erfJ
— Wall Street Pepe (@WEPEToken) December 9, 2024
Anyone that wants to get in on the project during its presale stage can do so using the simple buy widget embedded on the project’s website. Selling for $0.000207, the WEPE token can be purchased with both crypto or bank card.
Investors who want to acquire the meme coin at the best possible rate during this early stage will want to act quickly because WEPE’s price is scheduled to increase as its ICO progresses. The next price adjustment will happen in just over 3 days.
Purchase WEPE here before its next price increase.
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