The highly popular meme coin PEPE struggles to rebound from a bearish trend, while some investors flock to the new… Continue reading Is PEPE’s Price Continually Falling, Opposite to This New Layer 2 Frog Meme Coin with High Staking APY?
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The highly popular meme coin PEPE struggles to rebound from a bearish trend, while some investors flock to the new $PEPU meme token for its Layer 2 and staking advantages.
Today features an update on the famous Pepe coin. The discussion begins with a technical analysis perspective and then explores a Pepe-themed project with significant potential, possibly 100x from launch.
Exciting developments are ahead, so let’s dive straight into the Pepe update and then move on to Pepe Unchained.
First, examine potential buying areas for Pepe and discuss the profits that could be made from all-time highs if the chart experiences a significant pump in the current market. Starting with the daily chart for Pepe, focus on market structure, which determines whether the trend is up or down.
The higher low points in the market structure to reference are marked by yellow lines. These lines indicate potential significant pullbacks after breaking a high. Once that high is broken again, it confirms a higher low market structure, crucial for determining the asset’s trend direction.
These levels are also important for identifying potential reversal and buying levels of support. Currently, the last confirmed higher low is in this area. From the current price, a 21% move to the downside would still maintain the bullish market structure, meaning Pepe remains bullish as long as this level holds.
This could be a good buying area, as testing these higher low market structure points often leads to strong bounces. This strategy could involve a Dollar Cost Averaging (DCA) approach. Moving to the 4-hour timeframe for Pepe, observe an upward-sloping parallel channel.
The resistance points here indicate an ascending range chart pattern, suggesting a micro uptrend. If the price breaks to the downside and loses this market structure point, a continuation trade to the downside might occur, potentially around 2.79% or even 8.14%.
While PEPE appeared poised for a recovery earlier today, it has actually lost 1% in the past hour. This decline has weakened its momentum, with indicators suggesting further losses before a potential rebound.
For instance, its relative strength index (RSI) has dropped from 70 in the early morning to 40. This indicates increased selling pressure, with the coin’s 30-day average also beginning to decline again after approaching the 200-day average earlier today.
However, since PEPE has been falling into oversold territory for much of the past few weeks, today’s dip may not last long. This view is supported by the coin’s resistance and support levels, which are converging towards a pinch point that could trigger a significant move.
The rise in trading volume today is an encouraging sign that this move could be upward, following a period where whales dumped a portion of their PEPE holdings.
Interestingly, PEPE reached its current all-time high of $0.00001718 more recently than most other major tokens, suggesting it may have more near-term momentum than many alternatives.
This momentum could align with upcoming Ethereum ETF launches, potentially boosting PEPE’s price, as Ethereum-based meme coins like PEPE are likely to benefit from any post-ETF lift.
The coin remains popular among whales, who have repeatedly pumped the token over the past year. They may do so again soon, with PEPE potentially reaching $0.000013 in a few weeks and $0.00002 by Q4.
Analysts have mixed sentiments: some predict a rise to around $0.000011 to $0.000015 within the next month or year, while others foresee a bearish trend, with prices potentially dropping to $0.0000024 by the end of 2026.
Now, let’s shift focus to a new project with significant potential over the next 6 to 12 months: Pepe Unchained. Pepe Unchained ($PEPU) is gearing up for a notable market entry, generating growing excitement.
Just a week after launching its Initial Coin Offering (ICO), the project has raised nearly 2 million. This rapid fundraising success highlights the strong investor confidence in Pepe Unchained’s potential. The presale is divided into several phases, with the token price increasing at each stage.
Currently, $PEPU is available for $0.0081939, but there are only 18 hours left before the next phase starts, which will see a price increase. To participate in the presale, visit Pepe Unchained’s website, connect a wallet, and purchase using ETH, USDT, or BNB. Credit card payments are also accepted for added convenience.
Staking is a key component of Pepe Unchained’s strategy, with over 158 million $PEPU tokens currently staked, offering attractive rewards. With more than 1012% APY rewards available, staking presents a lucrative opportunity for participants.
Pepe Unchained, the project’s layer-2 solution, addresses Ethereum’s longstanding scalability problems. By increasing transaction capacity, Pepe Unchained ensures faster processing times and reduced fees, enhancing user efficiency.
Pepe has broken his chains with his own layer 2 blockchain solution:
🧠 Instant bridging between ETH and Pepe Chain
🧠 Lowest transaction fees
🧠 100x faster transaction speeds compared to ETH
🧠 Dedicated Block ExplorerJoin the future with Pepe Unchained! ⛓️🐸 pic.twitter.com/hluCsuV1Xz
— Pepe Unchained (@pepe_unchained) July 1, 2024
One of Pepe Unchained’s key benefits is its ability to handle a higher volume of transactions per second compared to Ethereum. This results in quicker confirmation times and a smoother overall experience for users.
Additionally, Pepe Unchained’s improved scalability helps reduce network congestion, a common issue with Ethereum during peak usage times. Another significant advantage is the lower transaction fees.
High demand on Ethereum often leads to soar gas fees, making transactions expensive. Pepe Unchained strives to maintain consistently low fees, making it more affordable for users to interact with the blockchain.
Join the Pepe Unchained community on X and Telegram to stay updated on the latest news and developments. To take part in the $PEPU token presale, visit pepeunchained.com.
The post Is PEPE’s Price Continually Falling, Opposite to This New Layer 2 Frog Meme Coin with High Staking APY? appeared first on ReadWrite.
