Pepe

Sponge

Daily

Coin

Divergence

<p><span style="font-weight: 400;">The Pepe price </span><a href="https://www.coingecko.com/en/coins/pepe" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">dropped</span></a><span style="font-weight: 400;"> more than 8% over the past 24 hours to trade at $0.000001001 as of 8:30 am EST amid a down day for meme coins.</span></p>
<h2 id="span-style-font-weight-400-the-pepe-price-breaks-below-a-key-support-level-span"><span style="font-weight: 400;">The Pepe Price Breaks Below A Key Support Level</span></h2>
<p><img decoding="async" src="https://s3.tradingview.com/snapshots/a/a6tVuP4H.png" alt="TradingView Chart"></p>
<p><span style="font-weight: 400;">Daily chart for PEPE/USDT (Source: </span><a href="https://www.tradingview.com/x/a6tVuP4H/" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">TradingView</span></a><span style="font-weight: 400;">)</span></p>
<p><span style="font-weight: 400;">The </span><a href="https://insidebitcoins.com/news/most-trending-cryptocurrencies-on-uniswap-coinhound-troll-pepe" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Pepe</span></a><span style="font-weight: 400;"> price dropped below the key support level at $0.00000105 over the past 24 hours as it remains trapped in a medium-term descending price channel. As a result, the meme coin is trading around the lower barrier of the price channel.&nbsp;</span></p>
<p><span style="font-weight: 400;">Historically, this has led to a bullish surge in the Pepe price. Looking at just the past 2 weeks, all of the tests of the lower barrier of the price channel were followed by a move towards the upside within the following 48 hours.</span></p>
<p><span style="font-weight: 400;">Should history repeat itself, the Pepe price may reclaim a position above the recently-breached $0.00000105 support level. A daily candle close above this significant point may then give the altcoin the foundation needed to rise to the upper boundary of the negative channel.&nbsp;</span></p>
<p><span style="font-weight: 400;">This would place PEPE at the major $0.00000130 resistance level. Continued buy pressure could then boost the Pepe price above this level to potentially rise to as high as $0.00000150 in the following couple of days.</span></p>
<p><span style="font-weight: 400;">This bullish thesis may be invalidated if the </span><a href="https://insidebitcoins.com/news/pepe-price-prediction-pepe-pumps-22-as-experts-say-consider-this-gamefi-presale-coin-for-explosive-gains" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Pepe</span></a><span style="font-weight: 400;"> price closes a daily candle below the price channel’s lower barrier. In this more bearish scenario, the Pepe price may be at risk of plummeting to the subsequent support level at $0.00000075 throughout the following fortnight.</span></p>
<h2 id="span-style-font-weight-400-technicals-show-bears-are-not-through-pulling-the-pepe-price-down-span"><span style="font-weight: 400;">Technicals Show Bears Are Not Through Pulling The Pepe Price Down&nbsp;</span></h2>
<p><span style="font-weight: 400;">Technical indicators on PEPE’s daily chart suggest that sellers will continue to drag the Pepe price down in the short term. The first indicator that investors and traders will want to take note of is the Moving Average Convergence Divergence (MACD).&nbsp;</span></p>
<p><span style="font-weight: 400;">Currently, the MACD line is breaking away below the MACD Signal line, which indicates that PEPE’s bearish trend shows no signs of slowing down. In addition to this, the Relative Strength Index (RSI) is falling below its Simple Moving Average (SMA) line. Traders normally identify this specific technical flag as a sign that sellers are growing stronger against buyers.</span></p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">Get out of the way <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$PEPE</a><a href="https://twitter.com/hashtag/SpongeV2?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SpongeV2</a> is here to takeover 🔥<a href="https://twitter.com/search?q=%24SPONGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SPONGE</a> <a href="https://twitter.com/hashtag/Web3?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Web3</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Altcoins</a> <a href="https://t.co/sEiHH65uTY" rel="noopener noreferrer nofollow">pic.twitter.com/sEiHH65uTY</a></p>
 <p>— $SPONGE (@spongeoneth) <a href="https://twitter.com/spongeoneth/status/1749477212263162166?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 22, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p><span style="font-weight: 400;">While PEPE seems to be at risk of a further decline, investors are turning their attention to </span><a href="https://insidebitcoins.com/visit/sponge" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Sponge V2</span></a><span style="font-weight: 400;">, which has attracted the attention of Tron founder Justin Sun.</span></p>
<h2 id="span-style-font-weight-400-meme-coin-attracts-tron-s-founder-span"><span style="font-weight: 400;">Meme Coin Attracts Tron’s Founder</span></h2>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">I've decided to begin actively trading meme coins and promising projects through my public address. Please note, I will personally bear all potential losses from these trades, and any profits made will be donated entirely to charity.</p>
 <p>— H.E. Justin Sun 孙宇晨 (@justinsuntron) <a href="https://twitter.com/justinsuntron/status/1656598894158159872?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 11, 2023</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p><span style="font-weight: 400;">Justin Sun added </span><a href="https://insidebitcoins.com/visit/sponge" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Sponge V1</span></a><span style="font-weight: 400;"> to his crypto portfolio last year after he announced that he would invest in “promising” low-capped coins. His position in the meme coin is currently valued at around $100K.</span></p>
<h2 id="span-style-font-weight-400-looking-to-repeat-its-initial-success-span"><span style="font-weight: 400;">Looking To Repeat Its Initial Success</span></h2>
<p><span style="font-weight: 400;">Sponge V1 experienced a remarkable 100X rise in 2023 and hit a peak market cap of $100 million. Now, investors who missed the Sponge V1 gains have access to a second lucrative opportunity through </span><span style="font-weight: 400;">Sponge V2</span><span style="font-weight: 400;">.</span></p>
<p><span style="font-weight: 400;">The new </span><span style="font-weight: 400;">Sponge V2</span><span style="font-weight: 400;"> upgrade introduces unique staking models such as stake-to-earn and stake-to-bridge, which allow investors to increase their holdings in the meme coin. </span></p>
<p><span style="font-weight: 400;">Through the V2 staking option, investors can stake their V1 tokens and get new </span><a href="https://insidebitcoins.com/visit/sponge" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Sponge V2</span></a><span style="font-weight: 400;"> tokens through an automated bridging mechanism. More than 5.6 billion tokens have been staked on the project’s platform, suggesting growing investor interest.</span></p>
<p><span style="font-weight: 400;"> The staking program is currently offering an annual percentage yield (APY) of 283% as well.&nbsp;</span></p>
<p><span style="font-weight: 400;">Investors and analysts are confident that Sponge V2 will repeat the success of its predecessor. One such analyst is crypto YouTuber Jacob Crypto Bury, who revealed that he has invested in </span><a href="https://insidebitcoins.com/visit/sponge" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Sponge V2</span></a><span style="font-weight: 400;">. He also predicted that the meme coin has the potential to surge more than 100X after its official launch.</span></p>
<p><iframe title="YouTube video player" src="https://www.youtube.com/embed/iv50B1_AJG8?si=njynygIlH29ZXR4V" width="560" height="315" frameborder="0" allowfullscreen></iframe></p>
<p><span style="font-weight: 400;">Investors that want to get in on this up-and-coming crypto that’s worthy of Justin Sun’s cash can do so by purchasing Sponge V2 </span><a href="https://insidebitcoins.com/visit/sponge" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">here</span></a><span style="font-weight: 400;">.</span></p>
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Pepe Price Prediction: PEPE Plunges 8% As Investors Look To This Meme Coin Held By Tron Founder Justin Sun For 100X Gains

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