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Pepe has lost 21% in the past month and nearly 5% in the past 24 hours, trading at $0.00001151 with 10% in trading volume as of 00:15 AM ET.
All of this comes as red flags are flashing across the memecoin space, including Dogecoin (DOGE) and Shiba Inucoin (SHIB), causing the sector’s market capitalization to drop by nearly 2% to $48.76 billion.
Memecoins are still making waves! Pepecoin recently saw a 13% drop, but Catcoin is gaining momentum, which is causing excitement. Could this be the next big rival in the crypto world? Stay tuned!
# Cryptocurrency
# Meme Coin
# Pepecoin
# Kaimao Coin
pic.twitter.com/kAiFq16ewR
— Meme Lord (@meme_llordd)
July 2, 2024
Pepe Price Prediction
Pepe price is testing the lower boundary of the ascending parallel channel. Although the overall picture remains bullish, this outlook is threatened as the memecoin records a decline high. If the support between the 50% Fibonacci placeholder at $0.00001071 and the lower boundary of the channel is breached, Pepe price may fall back.
Such a directional bias could lead the well-regarded altcoin to hunt for sell-side liquidity beneath it before potentially recovering. Traders can consider placing stops around the psychological mark of around $0.00001000.
However, in case selling pressure prevails over buyer momentum, Pepe price could drop further. Such a move would give the frog-themed token another buying opportunity at the support level of around $0.00000776.
Note the declining highs that have appeared on the relative strength index (RSI), which indicates a decline in momentum. This, coupled with its position below the average threshold of 50, coupled with the moving average convergence/divergence (MACD) being in negative territory, further strengthens the odds for the bears.
GeckoTerminal: Pepe/USD 1-day chart
On the other hand, if the Fibonacci placeholder at 50% holds as support, the Pepe price could turn things around here. While it would be ideal to flip the $0.00001335 resistance level into support, the bearish view would be negated only if the price breaks above the $0.00001800 threshold.
As Pepe prices struggle to stay above key support levels, investors are pouring into the new memecoin presale, Pepe Unchained (PEPU), which has surged to $1.88 million, over $660,000 raised in the past 48 hours.
According to 99Bitcoins, a cryptocurrency YouTube channel, PEPU is one of the best cryptocurrencies to buy right now and is expected to surge 100x after its launch.
There is hope that he can become Pepe's replacement
Pepe Unchained
It aims to emulate the success of its predecessor Pepe, which delivered stunning returns for investors.
As its name suggests, Pepe Unchained aims to liberate Pepe from its old clunky world of Layer 1. PEPU will achieve this by running on its own proprietary Ethereum Layer 2 blockchain.
As such, it solves the issues that often plague memecoins running on the Ethereum layer 1 blockchain, including scalability, speed, and efficiency.
Pepe has already unshackled itself with its own layer 2 blockchain:
Instant bridge between ETH and PepeChain
Minimum transaction fee
100 times faster transaction speed compared to ETH
Dedicated block explorer
Join the future of Pepe Unchained! ⛓️
pic.twitter.com/hluCsuV1Xz
— Pepe Unchained (@pepe_unchained)
July 1, 2024
Token holders can passively earn an annualized percentage yield (APY) of 1050% through the platform's staking system. More than 152 million PEPU tokens have been staked. The distribution of rewards will be carried out at a rate of 608.82 PEPU tokens per Ethereum block, which will be distributed within 2 years.
Each $PEPU token is priced at $0.0081939. With less than 21 hours until the price goes up, hurry up and buy to lock in the best deal.
Click here to visit and purchase Pepe Unchained
.
Also read:
Memecoin whales scramble to buy Pepe Unchained ($PEPU) presale, ICO funds soar to over $500,000
Pepe Unchained ICO crowdsale soars to $150,000 in minutes, new layer 2 memecoin to watch
Should Investors Buy Bitcoin (BTC) or Pepe Unchained (PEPU) This Week?
How to Buy Pepe Unchained – $PEPU Presale Review
What is a Crypto Presale? A quick guide to understanding the early stages of a new cryptocurrency!
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