Sunpepe (SUNPEPE) Price Skyrockets 315% to Hit New High, Pepe Unchained (PEPU) Presale Surges Past $10M

The SUNPEPE price has soared 315% in the last 24 hours to trade at $0.002941 as of 10:50 p.m. EST on a 59% surge in trading volume to $6.9 million.

The Sunpepe price has soared 315% in the last 24 hours to trade at $0.002941 as of 10:50 p.m. EST on a 59% surge in trading volume to $6.9 million.

This price surge follows the listing of SUNPEPE on the Bitmart crypto exchange on August 21, with trading for the SUNPEPE/USDT pair starting at 9 am UTC.

SUNPEPE is now among the top trending cryptocurrencies by market capitalization, as reported by CoinMarketCap.

SUNPEPE (SUNPEPE) is the largest Pepe meme token on the TRON blockchain, and its developer says it was created to bring fun, sunshine, and love to the crypto community.

Sunpepe Price In A Parabolic Curve

The SUNPEPE/USD chart on the 4-hour timeframe reveals a dramatic and rapid price increase characterized by a parabolic curve. This pattern often signals bullish, solid sentiment and aggressive buying, but it also comes with the risk of sharp corrections.

Before the parabolic rise, the price consolidated within a support zone, establishing a solid foundation for the upward move. As the price began to climb, it encountered and eventually broke through an initial resistance level of around $0.0020, which had previously marked a peak. This breakout propelled the price even higher, reaching approximately $0.003672.

SUNPEPEUSD Analysis Source: Dextools.io

However, as the price approached the $0.0040 level, it experienced a pullback, which is typical after such steep gains. This area now serves as a crucial resistance level. If the price struggles to break above this level, a deeper correction could be on the horizon.

Sunpepe Price Surges On Bullish Technicals

The Relative Strength Index (RSI) currently stands at 84.61, indicating that the asset is heavily overbought. This suggests that the price may be due for a correction or at least a period of consolidation.

The MACD indicator also points to strong bullish momentum, with the MACD line significantly above the signal line and a positive histogram. While this confirms the bullish sentiment, the steep rise in the MACD line could also indicate that the momentum is overextended, aligning with the overbought RSI.

The Sunpepe price indicates a powerful upward movement driven by strong market enthusiasm. However, this parabolic rise is unlikely to be sustainable without a correction. The key resistance level at $0.0042 will be crucial in determining the next phase of price action. If the price breaks through this resistance, the rally could continue to new highs in the upcoming weeks with a target of $0.0072.

In a converse case, a pullback to the support zone around $0.0022 or lower might occur if it fails. Given the overbought conditions and the parabolic nature of the rise, traders should approach this area with caution, anticipating potential volatility and the possibility of a correction.