PEPE Price Jumps 15% as Investors Begin to Re-Accumulate the Meme Coin

The Pepe Price pumped more than 15% in the past 24 hours to trade at $0.000009549 as of 12:00 a.m. EST as investors begin to re-accumulate the meme coin.

The Pepe Price pumped more than 15% in the past 24 hours to trade at $0.000009549 as of 12:00 a.m. EST as investors begin to re-accumulate the meme coin.

This recent gain was, however, not enough to push the crypto’s weekly performance out of the red. The PEPE price is still down more than 17% over the past 7 days.

The Pepe Price Bounces Off Of Support

4-hour chart for PEPE/USD (Source: GeckoTerminal)

The Pepe price rebounded off of the key support at $0.000007661 over the past 24 hours, and is climbing towards the major resistance level at $0.000010688. Should it overcome this threshold within the next 12 hours, it could have the technical foundation needed to climb to as high as $0.000013211 in the short term.

However, PEPE getting rejected by the $0.000010688 resistance level might invalidate the bullish thesis. In this alternative scenario, the Pepe price could retest the aforementioned $0.000007661 support. Breaking below this technical crutch might then lead to the meme coin plunging to the subsequent mark at $0.000006148.

Technicals Suggest The Pepe Price Could Keep Climbing

Technical indicators on PEPE’s 4-hour chart suggest the crypto could keep climbing through the course of the next 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are showing positive signs.

Over the past 24 hours, the MACD line crossed above the MACD Signal line on the 4-hour chart. Traders usually see this technical event as a sign that a crypto has entered into a short-term positive trend. What’s more, the MACD line is breaking away above the MACD Signal line, which could indicate that the bullish momentum is growing stronger.

The RSI reading above 50 corroborates this, and suggests buyers have recently gained the upper hand against sellers on PEPE’s 4-hour chart. Should bulls choose to capitalize on this advantage, it will be easier for them to push the Pepe price higher in the next 24 hours than it will be for bears to pull it down during the same period.

If these technical signs are validated, the Pepe price could soon attempt to flip the $0.000010688 resistance level into support.

With the PEPE price showing promising signs, the new layer-2 version of the frog-themed token Pepe Unchained (PEPU) is well placed to benefit.

PEPE No Longer Held Back By The Ethereum Chain

Layer-2 solutions have become increasingly popular among decentralized application (dApp) developers that have chosen to build their projects on the Ethereum blockchain network.

These solutions are designed to help projects get around some of the Ethereum mainnet’s shortcomings, such as its high transaction fees and below-optimal processing times.

Pepe Unchained (PEPU), through its own Layer-2 network, aims to introduce an upgraded version of PEPE with transaction speeds 100 times faster than that of the token deployed on Ethereum.

Pepe Unchained’s blockchain will also serve as a meme coin launchpad for projects that do not want to deal with Ethereum’s high fees and slow transaction times. 

The project will also come with its own dedicated blockchain explorer, so investors will not need to filter through the long list of tokens deployed on Ethereum to view all of their PEPU transactions. However, investors will still be able to seamlessly bridge their assets between the Ethereum network and Pepe Unchained.

Given the fact that PEPU comes with its own layer-2 network and will significantly enhance the on-chain capabilities of the beloved PEPE meme coin, it is easy to see why YouTuber Crypto Gains is bullish on the project. In a recent video, he told his 135,000 subscribers that the meme coin is a potential 100X gem.

Investors Have Caught On To PEPU’s Potential

More than $2.8 million has already been sent to PEPU’s ongoing ICO, signaling strong investor confidence in the project’s future.

In addition to its high levels of utility, Pepe Unchained is also offering buyers at this early stage a lucrative staking opportunity. Anyone that purchases and locks up PEPU during the presale will become eligible for up to 661% in annual rewards. 

Power Up Notice!

Pepe is about to bring something big 🐸💪 pic.twitter.com/aBwy1zgBZM

— Pepe Unchained (@pepe