Speculators Flee to New $9.3 Million Rival After Pepe Falls 41% in a Month

Put Pepe (PEPE) aside; after a precipitous 41% drop in price, savvy investors are quickly shifting their focus to Pepe Unchained, a rival with a valuation of roughly $10 million, as it embarks on a daring mission to boost the frog currency ecology.

Learn how Pepe's price has changed over the last 30 days and if another cryptocurrency is a better HODL pick for August by reading this article.

Pepe is now trading at $0.00000731 (a move of +0.41% over the last 24 hours) as the price indicates negative divergence on the short-term horizon.


With a -41% month-on-month loss and further ascendant opposition from the falling 20DMA (now at $0.00000822), optimism is limited and a significant upward objective is highlighted, the chart is now dominated by downward price activity.


The price of PEPE is probably going to retest its previous bottom around $0.0000058, a level that the Bollinger band volatility has already shown.

Although this will not appeal to holders, it is an unfortunate reality that they must face in order to enter the bullish technical structure (if double-bottomed support is successfully shown).

With the relative strength index (RSI) reading 37.51 on the long-term chart, there is reason to be optimistic about the coin's oversold condition and its potential for significant price appreciation; however, traders should be aware that the RSI may remain in the signal range for quite some time.


In sum, the neckline at $0.0000077 caps the upside potential at 4.7%, while a fall to $0.0000058 caps the downside risk at 20%.

You may find better buys at lower support levels, and the currency now has a short-term frame risk reward of 0.23, indicating a negative entrance.

An alternate initiative that seeks to revive the frogcoin ecosystem is skyrocketing in popularity, while Pepe is having a rough week.


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