Pepe Price Prediction: PEPE Plummets 11% As Experts Say Consider This P2E Dogecoin Derivative For 10X Gains!!#altcoins #BinanceTournament #AirdropGuide #EarnFreeCrypto2024 #bitcoin
The Pepe price plunged more than 11% over the past 24 hours to trade at $0.00001055 as of 12:00 a.m. EST as investors dump their holdings in the meme coin.The PEPE price is down over 9% on the weekly timeframe, but remains in the green over a month with a 4% gain.The Pepe price is approaching the key support at $0.00000941. Should it break below this technical crutch in the next 24 hours, it could be exposed to the risk of dropping further in the short term. In this scenario, PEPE might drop to as low as $0.00000738.
On the other hand, this bearish thesis could be invalidated if the meme coin is able to maintain a position above the $0.00000941 support for the next 24 hours. Traders might also look to enter into a long position for PEPE if the crypto does not breach this support.
The potential buy volume could then push the Pepe price to the next major resistance level at $0.00001282 in the following couple of days. In an extremely bullish scenario, PEPE might soar to the $0.00001497 threshold.
Technical indicators on PEPE’s 4-hour chart suggest the meme coin’s price might drop in the next 24 hours. More specifically, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are showing bearish signs.
Over the past 24 hours, the RSI fell below 50. This suggests that sellers have gained the upper hand against buyers, and the prior might look to pull the Pepe price down in the short term as a result. What’s more, the RSI is negatively sloped, which could be a sign of bears growing stronger.
Should these technical flags be validated, the Pepe price might lose the $0.00000941 support and potentially fall to the subsequent mark at $0.00000738.With PEPE at risk of potentially dropping even more in the next 24 hours, investors might seek shelter from market turbulence in presale meme coins that are not yet tradable on the open market.
