Dogecoin Price Plunges 7% in 24 Hours, Pepe Unchained (PEPU) Presale Surpasses $30.7 Million

The Dogecoin price plunged 7% in the last 24 hours to trade at $0.3670 as of 01:31 a.m. EST on trading volume that plummeted 30% to $15.6 billion.

Dogecoin (CRYPTO: DOGE) Price Drops 7%, Pepe Unchained (PEPU) Presale Surges Past $30.7 Million

Dogecoin price plunged 7% in the last 24 hours to trade at $0.3670 as of 01:31 a.m. EST on Monday. The trading volume also dropped 30% to $15.6 billion.

Dogecoin price has been on a sustained bull run with a sharp uptrend from mid-to-late October and into November. The trend is visible from the steep ascent in Dogecoin price above both the 50-day (yellow line) and 200-day (red line) Simple Moving Averages (SMAs) on the 4-hour chart, as per data from GeckoTerminal. This signals strong bullish momentum in the short to medium term.

Moreover, the Relative Strength Index (RSI) is currently around the mid-range, close to 54, which suggests that there is no immediate overbought or oversold condition. This level of RSI indicates a cooling off period after what was likely an overbought condition during the rapid price increase.

The RSI cooling off while the price remains high could indicate consolidation before the next move.

If the Dogecoin price sustains the bullish trend, DOGE could soar even higher, as the bulls target the next resistance at $0.70.

However, immediate support might be around the 50 SMA at $0.2930. If the price dips towards this level, it may offer a point for potential buying interest, but a break below could indicate a stronger pullback.

Meanwhile, investors are going all in on a new alternative, Pepe Unchained (PEPU), which aims to emulate and surpass the success of its predecessor, PEPE.

According to 99Bitcoins, a leading crypto YouTube channel with over 706K followers, Pepe Unchained (PEPU) could be the next meme coin to deliver 100X returns.

Pepe Unchained (PEPU) Presale Surges Past $30.7 Million

Pepe Unchained stands apart from other PEPE derivatives as a layer-2 (L2) project, offering superior transaction speeds and significantly lower fees than the original Pepe (PEPE), which operates on Ethereum’s slower and more expensive layer-1 network.

The project gained momentum at the start of November, having now raised a total of $30.7 million in presale funds, including $1.9 million in the last two days alone, as it races towards the $31 million target.

The team recently introduced a countdown timer for the project’s presale, indicating that the Pepe Unchained presale will end in under 28 days, followed by listings on tier-1 exchanges.

As its name suggests, Pepe Unchained is designed to free, or ”unchain,” the OG PEPE from its clunky, inefficient home on Ethereum.

Who needs some Brain Powder?

Pepe is gearing up for the official launch of his very own blockchain!