Pepe has surged by more than 42% in the past week, though it has lost more than 4% in the past 24 hours and is currently trading at $0.00001579 as of 12:50am.
Pepe’s strong performance pushed the memecoin to a new all-time high of $0.00001718, briefly surpassing Polygon (MATIC) to become the 18th-largest cryptocurrency by market cap. However, MATIC later reclaimed the 18th position.
Pepe price forms new resistance level
In the past 24 hours, Pepe price managed to break through the resistance level of $0.00001528. After breaking through this level, the meme coin climbed to a new all-time high in the past 24 hours. However, it then pulled back and formed a new price barrier of $0.00001761.
Traders were quick to profit from Pepe’s latest price surge. As sellers still put pressure on Pepe’s price, the memecoin is now testing the aforementioned $0.00001528 mark.
A break below this technical support level within the next 12 hours could put the cryptocurrency at risk of falling to the next key level of $0.00001276 within the next 24 hours. If continued selling pressure brings the memecoin down to this price point, Pepe could fall to $0.00000950 in the short term.
This bearish view may be overturned if Pepe price can hold above $0.00001528 over the next 24 hours. In such a case, Pepe could bounce off the key level and enter another bullish phase.
Bears may outweigh bulls, keeping Pepe prices in check
Technical indicators on the 4-hour chart of PEPE show that buyer power is waning, providing an opportunity for bears to recapture Pepe prices. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing bearish signals.
Over the past 24 hours, the RSI line has declined from a peak of 70.49 to its current level just above 55. Although RSI values above 50 indicate bullish strength, the declining readings of the technical indicator warn that the bears are trying to overthrow the bulls.
At the same time, the MACD line has fallen below the MACD signal line. Traders often consider this as a sign that the cryptocurrency is entering a negative phase. If the RSI value falls below 50 and the MACD line falls below the MACD signal line, traders may start shorting on this meme coin.
This additional selling pressure could force the Pepe price below the critical $0.00001528 level, which could lead to further declines over the next 24 hours.
As bears attempt to overwhelm bulls on Pepe’s chart, traders may consider turning to the Dogeverse (DOGEVERSE) in anticipation of potentially explosive gains as this new memecoin is set to launch soon.
A groundbreaking memecoin
Dogeverse is unlike any memecoin before it, and it’s the first lighthearted cryptocurrency to exist on multiple blockchain networks. It’s part of a broader cryptocurrency industry trend to make blockchain networks and projects more interoperable.
As the first memecoin with a cross-chain presence, Dogeverse allows investors to easily transfer value between networks such as Solana, Ethereum, BNB Chain, Polygon, Avalanche, and Base.
This enables investors and token holders to participate immediately in various DeFi yield-generating opportunities as they arise.
The high utility of Dogeverse has caught the attention of cryptocurrency YouTuber Jacob Bury, who told his 393,000 subscribers in a recent video that Dogeverse could potentially generate 100-fold returns for investors.
In addition to its growth potential, Dogeverse also offers ICO investors a lucrative equity program with an annual yield of 47%.
Last chance to buy before potential explosion
Investors only have six days left to get involved before the memecoin Dogeverse officially launches. To date, more than $15 million has been invested in DOGEVERSE, making it one of the best performing presales this year.
Buy DOGEVERSE here before the official launch.
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Dogeverse – Multi-chain Meme Coin
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Early Access Presale Now Available
Bridges connecting Solana, Base, BNB Chain, Polygon, and Avalanche
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The world's first Doge that can travel around the chain - Cosmo
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