PEPE Price Nosedives 5% as Investors Reduce Exposure to Frog-Themed Meme Coin

The Pepe price plunged more than 5% in the last 24 hours to trade at $0.00002223 as of 10:05 p.m. EST as investors lower their exposure to the frog-themed meme coin.

The Pepe price dropped more than 5% in the last 24 hours to trade at $0.00002223 as of 10:05 p.m. EST as investors lower their exposure to the frog-themed meme coin.

Despite the 24-hour loss, the PEPE price is still up over 1% on the weekly time frame. The crypto is also 3% in the green on the longer monthly time frame.

Pepe Price Testing A Critical Support Level

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

The Pepe price is testing the crucial support level at $0.00002213. Should the meme coin break below this mark in the next 12 hours, it could stand the risk of plunging to the next technical safety net at $0.00001929.

On the other hand, the Pepe price staying above $0.00002213 for the next 12 hours could invalidate the bearish thesis. In this alternative scenario, the meme coin’s price might begin to rise. Traders could then try to push PEPE above the $0.00002498 resistance to flip it into support. Thereafter, continued buy pressure might lead to the Pepe price rising to $0.00002782.

Technicals Warn The Pepe Price Might Keep Dropping

Looking at technical indicators on PEPE’s 4-hour chart, it seems bears are growing their strength against their bullish counterparts. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) warn the Pepe price might drop some more through the course of the next 24 hours.

A major bearish technical flag was triggered by the MACD indicator in the last few hours, with the MACD line crossing below the MACD Signal line. Traders usually interpret this technical development as a sign that a crypto has entered a negative trend. With the gap between the two lines growing, it seems PEPE’s bearish momentum is picking up steam.

RSI readings have also dropped in the last couple of hours, which suggests a decrease in buyer strength. With the current reading well below the neutral 50 mark, bears appear to have a lot of strength now. The negative slope of the RSI line also warns that sellers have no intention of easing their pressure on the Pepe price in the coming few hours.

With bearish technical signs popping up on PEPE’s 4-hour chart, investors might pivot to a new Pepe derivative called Wall Street Pepe (WEPE), which is closing on $30 million in funds raised in just two weeks.

Several experts have also stepped forward to share their bullish predictions for WEPE. Among them is an analyst from the Cryptonews YouTube channel, with over 13K subscribers, who said that Wall Street Pepe could be the next massive degen play.

Empowering Traders To Trade Like A Pro

Perhaps what has crypto experts excited about WEPE is the project’s mission to empower retail traders to trade like a pro. Up until now, the crypto trading scene has been run by whales, who keep their next moves a secret. Oftentimes, these whales’ trades are performed at the detriment of smaller retail traders.

Bags packed. Skin's glowing. Vibes are immaculate. 🐸 ⚔️ pic.twitter.com/nsChKeY09o

— Wall Street Pepe (@WEPEToken) December 10, 2024

Wall Street Pepe will shake things up with its rapidly-growing WEPE Army of degen traders. Anyone who buys WEPE tokens will become a member of the group and unlock access to exclusive market insights as well as alpha trade calls. With these signals in hand, traders can elevate their game to the next level and potentially grow their portfolios a lot quicker.

Less Than 20 Hours Left Until The Next Scheduled WEPE Price Hike

Purchasing WEPE tokens is fairly simple. Investors can use the buy widget embedded on the project’s website to acquire the meme coin, which is currently selling for $0.0003648 and can be bought with either crypto or bank card.

Once purchased, the tokens can be put to work almost immediately through the staking page on the website. Wall Street Pepe is currently offering presale buyers who stake their tokens a stellar 43% annual yield.

Investors who want to lock in the best rate during the presale will want to act fast because WEPE’s price will increase with each new stage of its ICO. The next price hike will happen within the next 20 hours, and much sooner if it passes $30.2 million in funds raised.

Purchase WEPE tokens here before the next price increase.