The Pepe price has pumped 36% in the past week and edged up 0.9% in the last 24 hours to trade at $0.00001126 as of 12:40 a.m. EST on an 8% drop in trading volume to $2.2 billion.
Pepe Price Bulls May Continue The Uptrend
The PEPE/USD price action shows several key technical indicators and patterns that indicate a potential bullish breakout. One prominent pattern is the falling wedge, a bullish reversal pattern that often signals an upcoming upward price movement after a period of consolidation.
The wedge appears to be narrowing, and the price is approaching a possible breakout point, which could lead to a significant price surge. A support zone has been established, and the price consistently tests and bounces off this level, indicating strong buying pressure and preventing further declines.
PEPEUSD Analysis Source: Dextools.io
The 50-day simple moving average (SMA), represented by the blue line, is trading below the 200-day SMA (green line), reflecting a previous bearish trend. However, there’s a potential moving average crossover near the current price, suggesting that a bullish crossover could be imminent if the 50-day SMA rises above the 200-day SMA.
Pepe Price Indicators Signal A Bearish Reversal Ahead
Looking at the indicators, the MACD has crossed into positive territory above the neutral level, indicating that upward momentum is building. The histogram is also showing green bars, further confirming the bullish momentum.
additionally, The relative strength index (RSI) trades at 76.42, above the overbought threshold of 70. This signals that the Pepe price is experiencing strong buying activity, but it also raises the possibility of a short-term pullback or correction if the overbought condition persists.
There is a potential bullish breakout setup, with the price flying above the wedge toward a new resistance. If the breakout occurs, the price could rally toward the target price of approximately $0.00001500, as indicated on the chart. However, caution is advised due to the overbought RSI, as a short-term retracement may happen before further upward movement.
Supercharged Layer 2 Meme Coin Storms Past $16.4 Million: The Best Meme Coin To Buy Now?
Meanwhile, as the Pepe price continues its surge, Pepe Unchained (PEPU), a high-powered Layer 2 meme coin, has rocketed past $16.4 million in its presale, drawing attention as one of the fastest-growing presales this year.
The recent surge in Pepe Unchained (PEPU) has caught the eye of prominent YouTuber ClayBro, who boasts over 130K subscribers. He says PEPU tokens could create a new set of millionaires once it launches.
It’s also caught the eyes of whale investors, one of whom socked $53k into the project on Friday.
Pepe Unchained is making strides in the saturated meme coin space, offering solutions to some of the technical challenges that have caused disruptions on blockchains like Solana and TON.
To tackle these issues, PEPU has introduced its own layer-2 blockchain. Processing transactions on a separate chain lightens the load on traditional layer-1 networks, leading to a smoother, more efficient experience.
As its name makes clear, Pepe Unchained aims to free PEPE from its old, clunky Layer-1 server room, providing up to 100 times faster transaction speeds and significantly lower transaction costs on the Pepe Unchained network.
Pepe Unchained L2 Sneak Peek!
What we're building is not just a new chain, but an entire ecosystem.
🐸Pepe Unchained L2
🐸Block Explorer
🐸DEX
🐸Bridge
🐸Advanced Analytics
🐸Builder Grants
Pepe Unchained is coming. And it's going to shake up the crypto space. pic.twitter.com/ZVnvgO6MGF
— Pepe Unchained (@pepe_unchained) September 26, 2024
High Yields And Developer Incentives
Additionally, PEPU’s layer-2 solution allows users to easily transfer value between the secure Ethereum network and the high-speed Pepe Unchained blockchain, positioning it as a strong contender in the meme coin market.
Moreover, developers can build decentralized applications (dApps) on the Pepe Unchained network, broadening its use cases beyond meme coins. This is supported by introducing the “Frens With Benefits” developer grant program, which is designed to foster innovation on the platform.
PEPU also entices investors with a 130% annual yield for those who stake their tokens.
If you’re considering purchasing PEPU, it’s currently priced at $0.00989, with payment options in ETH, USDT, BNB, or via bank card. With a price hike coming in less than 2 days, acting quickly will nail the best price.
Buy PEPU on the official website here.
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