Pepe Price Surges 12% to $0.00002094 as Meme Coin Investors Re-Enter the Market

The Pepe price surged over 12% in the last 24 hours to trade at $0.00002094 as of 11:10 p.m. EST as investors re-enter the meme coin's order books.

The Pepe price experienced a surge of over 12% in the last 24 hours to trade at $0.00002094 as of 11:10 p.m. EST as investors re-entered the meme coin’s order books.

Following the recent pump, the PEPE price pushed its monthly performance up to more than 110%.

Pepe Price Overcomes Technical Obstacles

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

The Pepe price managed to break out of a medium-term negative price channel as well as overcome the resistance level at $0.00001962 in the last 24 hours, GeckoTerminal shows. If the meme coin manages to establish a position above this mark for the next 12 hours, it could have the technical foundation needed to rise to the subsequent resistance at $0.00002427.

In an extremely bullish scenario, the Pepe price could end up rising to as high as $0.00002867 in the next couple of days. However, the meme coin breaking below the recently-breached $0.00001962 mark in the next 12 hours could dash PEPE traders’ bullish hopes.

In an alternative case, the Pepe price might end up falling back within the aforementioned descending price channel. This could then lead to PEPE testing the key support level at $0.00001486.

Technical Indicators Warn Bears Could Still Take Back Control Of The Pepe Price

Technical indicators on PEPE’s 4-hour chart suggest the meme coin’s price could keep climbing through the course of today’s trading session. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing bullish signs, but suggest that bulls are not completely in control just yet.

RSI readings have risen above the 50 benchmark throughout the past 24 hours to suggest that buyers have gained an advantage over sellers on the 4-hour chart. Although the chances are good that this technical event could be followed by an increase in the Pepe price, the leveling off of the RSI line in the last few hours warns that sellers are fighting back to retake control.

The MACD line also crossed above the MACD Signal line in the last 24 hours. This technical occurrence is often interpreted as a sign that a crypto has entered a positive trend. However, the small gap between the two lines warns that the situation could still take a bearish turn in the coming few hours.

While bulls and bears battle it out on PEPE’s 4-hour chart, a layer-2 meme coin challenger by the name of Pepe Unchained (PEPU) is going ballistic in presale amid speculation of a Coinbase or Binance listing when it launches in a little more than 21 days.

Helping Pepe Break Free From Clunky Ethereum

Pepe Unchained (PEPU) is on a mission to liberate the beloved Pepe from the slow, clunky legacy Layer 1 Ethereum network.

To accomplish this, the project will introduce a new Pepe token that is powered by Pepe Unchained’s lightning-quick layer-2 blockchain. This new token will subsequently be 100 times faster and much cheaper to transact with than its predecessor.

In addition to giving Pepe’s loyal followers a new token that is worthy of their loyal support, Pepe Unchained’s network will play host to the next wave of Web3 innovation. This comes after the team launched its developer grant initiative, which will give approved coders the financial backing and opportunity needed to build the next best app on the Pepe Unchained blockchain.

Pepe Unchained is going in direct competition with the Solana-based Pump.fun meme coin generator as well, with its own token launchpad platform. This could establish and cement Pepe Unchained as a powerful player in the booming meme coin space.

With all of the latest developments and its appeal to meme coin lovers, it’s easy to see why experts and analysts are bullish on PEPU.

Among those who anticipate great things in PEPU’s future is an analyst from the 99Bitcoins YouTube channel, which boasts over 706K subscribers. In a recent video, the analyst said the meme coin is poised for a 100X surge following its official launch in 21 days.

Investors FOMO Buy PEPU Amid Speculation Of A Binance Or Coinbase Listing

Pepe Unchained’s presale has raised more than $40 million, signaling strong investor confidence in the project’s future. This buying frenzy recently went into overdrive after the team announced that the project has listings on tier-1 exchanges lined up. This has led to speculation that a Binance or Coinbase listing might be on the cards for PEPU.

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