This comes as the entire crypto market continues to drop, recording a 3% drop in the last 24 hours to a $2.04 trillion market capitalization.
Pepe Price Set For A Rebound Over The Falling Channel
The death cross around $0.0000129 allowed the bears to exert more pressure, pushing the price of Pepe along the falling channel pattern.
PEPE still trades below both the 50-day and 200-day Simple Moving Averages (SMAs), which confirms the sustained downtrend along the falling channel.
Moreover, the Relative Strength Index (RSI) is dropping as it hurtles toward the 30-oversold level. This is an indication that sellers continue to sell massively.
If the bears continue to sell, the price of Pepe may drop further to $0.000007233, which acts as a cushion against downward pressure.
However, with the RSI dropping towards the 30-oversold level, investors may start accumulating as the token is now highly undervalued. In a scenario where the bulls may prompt a buyback, the token may rebound over the channel, as the bulls target a new ATH at $0.0000173, after breaching the immediate resistance levels at $0.000001009 and $0.00001167.
Pepe Unchained Raises Over $2.7 Million – Best PEPE Alternative To Buy Now?
Who needs some Brain Powder?
Pepe is gearing up for the official launch of his very own blockchain! 🚀 pic.twitter.com/kZC72UmxFy— Pepe Unchained (@pepe_unchained) June 20, 2024
As a result, the project will finally tackle the scalability, speed, and efficiency issues that often plague meme coins that are built on the Ethereum Layer-1 blockchain.
According to 99Bitcoins, a prominent crypto channel on YouTube, $PEPU is one of the best cryptos to buy now. It adds that the token could potentially soar 100X after its launch.
You can buy $PEPU tokens for $0.0083258 each. With a price hike coming in less than two days, buy soon to lock in the best deal.