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The Pepe price plunged 5% in the last 24 hours to trade at $0.00001180 as of 00:39 a.m. EST on trading volume that dropped 47% to $1 billion.
This comes as the meme coin space dropped 4% to a $49 billion market capitalization.
Pepe Price To Continue Its Bullish Trend Over The Bullish Flag
The Pepe price has been in a consolidation phase since July 5, trading within the $0.0000090 range, according to data from GeckoTerminal. In the last two days, the bulls have won the struggle for dominance, pushing Pepe over through a markup phase, as they aim to continue with the bullish trend.
The price of Pepe then went through a consolidation after hitting the $0.00001257 resistance zone, forming a bullish flag.
PEPE trades well above the 200-day Simple Moving Average (SMA), which is a signal of a strong bullish trend, which the bulls may take advantage of to push the token over. In this case, the 50-day SMA acts as the immediate resistance zone around $0.00001207.
Moreover, the Relative Strength Index (RSI) is climbing up towards the 50-midline level at 47, an increasing momentum to the upside, as the buyers aim to sustain the pressure.
Pepe Price Prediction
According to the Pepe price analysis, PEPE bulls are aiming to continue its bullish trend over the bullish flag, as the bulls target $0.0000140.
However, if the bears take charge of the price at this level, the Pepe price could retrace back to the $0.00000990 level, which coincides with the 200-day SMA.
Meanwhile, as the Pepe price aims for a bullish rally, other investors are buying a new PEPE alternative called Pepe Unchained (PEPU).
The YouTube channel 99Bitcoins, with more than 705k subscribers, says this new presale offers ”insane rewards” and urges investor not to ”miss out.”
Pepe Unchained Presale Surges Past $4 Million – Best Alternative To Pepe?
Pepe-themed coins continue to vie for dominance, but the new Pepe Unchained presale continues to soak up investment dollars, blasting past the $4 million mark as it readies to be unleashed on the market.
Another set of chains broken!
An incredible $4M raised so far for Pepe’s Layer 2 blockchain. Pepe Unchained is unstoppable! 🐸💪 pic.twitter.com/wSd49PwMeg
— Pepe Unchained (@pepe_unchained) July 17, 2024
Pepe, a token originally built on the Ethereum blockchain, has its shortcomings, in that it has long been confined by its layer-1 technology, which is troubled by network delays and rising gas fees.
That’s why Pepe Unchained comes with its own Layer 2 blockchain that frees Pepe from its old, clunky network. In this way, the project tackles the scalability, speed, and efficiency issues that often plague meme coins built on Layer-1 blockchains like Ethereum.
As a result, Pepe Unchained enables investors to seize market opportunities with greater efficiency.
Token holders can also earn passively through the platform’s staking system, which offers a stellar annual return of 464%.
You can buy $PEPU tokens for $0.0084937 each. With a price hike coming in a little more than a day, buy soon to lock in the best deal.
To join the presale, buy $PEPU from the official website here using ETH, USDT, or a bank card.
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