Pepe's price rose by 19% last week and has increased by 5% in the past 24 hours, with its upward momentum still strong.
According to data from GeckoTerminal, Pepe has broken through the current resistance level of $0.00001013, breaking away from the upper boundary of the descending triangle pattern. Key technical indicators show positive momentum, and Pepe's bulls are currently aiming for higher target price levels.
Pepe's current trading price is above the 50-day and 200-day simple moving averages (SMA), confirming the current uptrend. More importantly, the 50-day SMA is about to approach the 200-day SMA, which may form a golden cross in the coming days, further solidifying bullish market expectations.
Additionally, the Relative Strength Index (RSI) has currently risen to the overbought zone of 70, indicating increased buying pressure, which may drive the price of Pepe further upwards, approaching the next resistance zone. The Moving Average Convergence Divergence (MACD) also shows positive values, with the blue MACD line crossing above the orange signal line, forming a bullish crossover signal.
According to the chart analysis of PEPE/USD, Pepe's price has currently broken through the upper boundary of the descending channel, showing strong bullish momentum. Key technical indicators such as RSI and MACD indicate that Pepe's price is on the right track, which could continue to drive its rise.
If the current upward trend continues, Pepe's price may rise further, with the next target being the resistance level of $0.0000140. However, if a pullback occurs, Pepe's price may retreat to the lower boundary of the triangle, forming strong support around $0.0000080.
As the price of Pepe rises, investors are also starting to pay attention to a new and more sophisticated alternative to Pepe - Pepe Unchained (PEPU), bringing more choices and attention to the market.
The presale performance of Pepe Unchained ($PEPU) has been exceptionally strong, surpassing $25.5 million, with sales exceeding $700,000 in the past few days. This emerging project features its own second-layer blockchain, aiming to provide a faster and more cost-effective way for Pepe transactions, positioning itself as a strong competitor to Pepe ($PEPE) and aspiring to become the most popular frog-themed meme coin in the market.
The goal of Pepe Unchained is to break through the limitations of the Ethereum first-layer network, reducing its outdated and inefficient transaction bottlenecks.
Although the ecosystem of Pepe Unchained is just getting started, it has launched a Pump.fun platform similar to Solana - Pepe's Pump Pad, aimed at providing a new launch platform for meme coins, making Ethereum the center of the meme coin ecosystem. Additionally, token holders can earn up to 94% annual percentage yield (APY) through the platform's staking system, further attracting the attention of a large number of investors.
