The PeiPei price slumped 11% in the past 24 hours to trade for $0.0000001949 as of 00:15 a.m. EST.
But the PeiPei price remains 147% up in the last seven days, according to CoinGecko data, and analysts say it might still hit a new all-time high (ATH).
after having done a 3x (so already more than satisfied), but I think we can have a new ath if we consolidate here
chinese coin always good $PEIPEI pic.twitter.com/g4EFcLANA3
— EliZ (@eliz883) July 2, 2024
PeiPei Price Prediction
The PeiPei price is trading with a bearish bias on the four-hour timeframe, but not all is lost for PEIPEI holders. Several reasons show that the odds favor the bulls, starting with the Relative Strength Index (RSI), which is above the mean level of 50 and resisting against a further downside.
The Moving Average Convergence Divergence (MACD) is also in positive territory, showing that bullish sentiment abounds in the PEIPEI market.
If the RSI extends further north, the 61.8% Fibonacci retracement level could hold as a support. In such a case, the $0.0000001707 level could hold as a support, providing the jumping-off point for a further upside. Increased buying pressure above current levels could see the altcoin extend to flip the 50% Fibonacci placeholder into a support at $0.0000002088.
In a northbound directional bias, only a candlestick close above the 38.2% Fibonacci retracement level of $0.0000002470 would make PEIPEI attractive to buy. This is because it would signify the escape of the Chinese meme coin from underneath the foothold of the Fibonacci Golden Zone.
A decisive candlestick close above this level on the four-hour timeframe would confirm the continuation of the uptrend.
GeckoTerminal: PEIPEI/USD 4-hour chart
On the other hand, if the RSI slips below the 50 threshold, the PeiPei price could drop to test the 61.8% Fibonacci retracement level. A flip of this support floor into a resistance level would provoke a sell-off, with the ensuing selling pressure plunging the PeiPei price toward the 78.6% Fibonacci retracement level of $0.0000001163. Such a move would constitute a 40% drop below current levels.
Notice the MACD has crossed below its signal line, indicating a bearish momentum shift in the PeiPei price. This suggests that the downtrend may continue or strengthen in the near term. In the same way, with the MACD histograms flashing red in the negative territory further confirms the negative momentum.
Meanwhile, investors are flocking to buy PlayDoge (PLAY), a new Dogecoin derivative that crypto YouTuber Jacob Bury says could be the next meme coin to 10X after launch.
Promising Alternative To PeiPei
PLAY is the powering token for the PlayDoge ecosystem and the project says it’s the best play-to-earn (P2E) DOGE companion game. It is a mobile-based P2E game out that transforms the iconic Doge meme into a Tamagotchi-style virtual pet.
PlayDoge brings the legendary Tamagotchi virtual pet concept into the new digital economy of crypto. Holders play through classic 8-bit side-scrolling adventures while embracing the 90s nostalgia to earn crypto, and enjoy monetary incentives based on how well they care for their pets.
The project runs on the BNB chain, delivering benefits such as lower fees and faster transactions. The BNB chain is also famous for ecosystem support, interoperability, scalability, and community adoption.
Investors have already sent more than $5.335 million to the project. If you would like to join them, PLAY is currently priced at $0.00515. But with a price hike coming in just over two days, it’s best to buy soon if you are attracted to the project.
Buy PlayDoge tokens here.
Also Read:
How to Buy PlayDoge – $PLAY Presale Review
PlayDoge Price Prediction – PLAY Price Potential in 2024
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