Pepe Price Plummets: Will the Meme Coin Rebound or Sink Deeper?

The price of Pepe meme coin has dropped by over 8% in the past 24 hours, trading at $0.000007532 at the time of writing. The downturn is primarily due to the loss of key support at $0.00000802, putting the coin at risk of further correction. Technical indicators suggest a continued downfall in the short term, with the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) signaling bearish momentum.

Pepe Price Tanks: Will It Bounce or Sink Further?

The Pepe cryptocurrency has tumbled over 8% in the past 24 hours, plunging to $0.000007532 as of 8:20 a.m. EST. This sharp decline raises concerns about the meme coin's future prospects.

Pepe Price Breaks Key Support

The Pepe price has broken below the crucial support level of $0.00000802, dashing hopes for a sustained recovery. This has also resulted in a breach of a positive trend line established over the past 12 hours.

Downside Risks Intensify

With the key support level shattered, Pepe now faces the risk of further downward correction. If the downtrend persists for the next 48 hours, Pepe could tumble to the next significant support mark at $0.00000712. Continued selling pressure could drive the price even lower, potentially reaching $0.00000631 in the short term.

Technical Indicators Signal Bearish Trend

Technical indicators on Pepe's 4-hour chart also point to a potential continuation of the downward trend. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are exhibiting bearish signals.

MACD and RSI Paint a Grim Picture

The RSI has crossed below its Simple Moving Average (SMA) line on the 4-hour chart within the past 24 hours. This technical event is often interpreted as a sign that sellers have gained the upper hand and anticipate further price declines.

MACD Nears Bearish Crossover

Furthermore, the MACD is nearing a major bearish technical signal. The MACD line is collapsing towards the MACD Signal line, and an intersection between these two lines could indicate the onset of a temporary bearish cycle for Pepe.

Dogecoin20 Emerges as a Contender

While Pepe wrestles with bearish pressures, Dogecoin20 has emerged as a potential contender in the meme coin space. With its presale surpassing $6 million, investors are flocking to this alternative.

Dogecoin20: A Greener, More Rewarding Meme Coin

Dogecoin20, built on the Ethereum Proof of Stake blockchain, offers an environmentally friendly alternative to Pepe, which still operates on the older Proof of Work consensus mechanism. As an ERC-20 token, Dogecoin20 provides its token holders with access to a native staking solution, currently offering an impressive 166% in annual rewards.

Dogecoin20 Boasts Higher Growth Potential

Unlike Dogecoin, Dogecoin20 has a capped supply, limiting the potential for excessive inflation. As demand for Dogecoin20 increases, its fixed supply could lead to a surge in price. This realization has captured the attention of investors, who are eagerly participating in its presale.

Time is of the Essence

For those interested in acquiring the potential Dogecoin killer at an early stage, the official website of the project offers a convenient platform. Dogecoin20's native token, DOGE20, can be purchased for a mere $0.000206 using ETH, USDT, bank cards, or BNB (for investors seeking lower transaction fees). Given the recent surge in presale activity, investors are advised to act quickly before it sells out.