The Biaoqing price plunged 16% in the last 24 hours to trade for $0.009810 as of 01:30 a.m. EST on trading volume that plummeted 44%.
BIAO has conformed to the broader market trend amid heightened fear levels as altcoins take directional cues from the Bitcoin price.
The token advertises itself as the most famous panda in the world and the most exceptional of Chinese memes. Calling itself the Pepe of China, the project sets out to conquer the Ethereum blockchain.
Biaoqing Price Prediction
The Biaoqing price continues to confront resistance due to the descending trendline, which has capped the upside potential of the Chinese meme coin for days on end. This consolidation has led to the formation of a wedge, suggesting a possible bullish reversal.
A falling wedge is a bullish chart pattern formed when the price consolidates between two converging trendlines. This pattern usually indicates a period of decreasing volatility and narrowing trading ranges. It leads to a potential breakout to the upside. Traders often look for a breakout above the upper trendline as a signal to enter a long (buy) position.
With the lower boundary holding and as the Biaoqing price fills up the pattern, a breakout seems imminent. Key levels to watch in case of a breakout are the $0.015104 and $0.023254 resistance levels. A stable close above the latter would render BIAO an attractive buy.
In a highly bullish case, the gains could see the Biaoqing price extrapolate the gains toward reclaiming its peak around the $0.055000.
The Relative Strength Index (RSI) looks poised for a recovery above the mean level of 50, with the Moving Average Convergence Divergence still above the signal line (orange band). This suggests that while the market is still bearish, buyer momentum exceeds selling pressure. If the bulls are able to sustain their buying appetite, this could bode well for the Biaoqing price.
GeckoTerminal: BIAO/USD 4-hour chart
On the other hand, if the bears have their way, the Biaoqing price could fall. A breakdown of the $0.008847 support would send the Chinese meme coin to a cliff, potentially rolling over to a new range low.
As the Biaoqing price fights to hold above the critical support, investors are piling into the new meme coin presale Pepe Unchained (PEPU), which has raised more than $3.2 million.
According to 99Bitcoins, a crypto channel on YouTube with more than 705K subscribers, PEPU is one of the best cryptos to buy now, with the potential to soar 100X after its launch.
Promising Alternative To Biaoqing
Pepe Unchained aims to replicate the success of predecessor PEPE, which has delivered mind-blowing returns to early investors.
Pepe's taking blockchain to new heights!
SpiderPepe hanging from the ceiling and ready to drop something big 🕸️🐸 pic.twitter.com/yKAWZKkeTN
— Pepe Unchained (@pepe_unchained) July 11, 2024
As its name suggests, Pepe Unchained sets Pepe free from his old, clunky Layer-1 blockchain. It runs atop its own proprietary Ethereum Layer 2 blockchain, which distinguishes the project in the highly speculative meme coin market.
This enables it to tackle the issues that often plague meme coins running on the Ethereum Layer-1 blockchain, such as scalability, speed, and efficiency.
Pepe has broken his chains with his own layer 2 blockchain solution:
🧠 Instant bridging between ETH and Pepe Chain
🧠 Lowest transaction fees
🧠 100x faster transaction speeds compared to ETH
🧠 Dedicated Block Explorer
Join the future with Pepe Unchained! ⛓️🐸 pic.twitter.com/hluCsuV1Xz
— Pepe Unchained (@pepe_unchained) July 1, 2024
Token holders can earn passively through the platform’s staking system, which offers an annual percentage yield (APY) of 573%. More than 279 million PEPU tokens are already staked. The distribution of rewards will occur at a rate of 608.82 PEPU tokens per ETH block, to be disbursed over 2 years.
You can buy $PEPU tokens for $0.0083926 each. With a price hike coming in just under 40 hours, buy soon to lock in the best deal.
Visit and buy Pepe Unchained here.
Also Read:
Meme Coin Whales Gobble Up Pepe Unchained ($PEPU) As ICO Rockets Past $500,000
Pepe Unchained ICO Explodes With $150K Raised In Minutes, New Layer 2 Meme Coin To Watch
Should Investors Buy Bitcoin (BTC) This Week Or Pepe Unchained (PEPU)
How to Buy Pepe Unchained – $PEPU Presale Review
What is a Crypto Presale? A Quick Guide to Getting in on the Ground Floor of New Cryptocurrencies!