Pepe Price Plunges 6% As Investors Shift Focus To The Chain-Hopping Dogeverse ICO For Parabolic Potential

On May 16, 2024

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The Pepe price plunged over 6% in the last 24 hours to trade at $0.00001023 as of 12:55 a.m. EST as some investors sell their holdings in the meme coin.

PEPE’s recent loss is a break from its bullish trend over the past month. In just the last 30 days, the crypto more than doubled its value with a 113% pump.

The Pepe Price Loses A Key Support

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

The Pepe price dropped below the key support level at $0.00001105 over the past 24 hours. Sellers attempted to pull the altcoin’s price below the $0.00000982 support as well, but bulls were able to defend the mark.

With the Pepe price stabilizing in the last couple of hours, buyers might identify its current levels as a buy entry or sellers will continue to exert pressure on the meme coin.

Should bulls enter PEPE’s charts in the next 12 hours, the crypto could attempt to reclaim the $0.00001105 support. A 4-hour candle close above this threshold might then give the meme coin the foundation needed to keep rising, to potentially reach as high as $0.00001228.

On the other hand, if bears continue to dump PEPE, its price could drop below the $0.00000982 support in the short term. This might then put the Pepe price at risk of falling to the subsequent mark at $0.00000842 in the following 24-48 hours.

Technicals Suggest The Pepe Price Is Still At Risk

Technical indicators on PEPE’s 4-hour chart warn that the meme coin is at the mercy of sellers, who currently have the upper hand against buyers. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) suggest the Pepe price might keep falling.

The RSI has been in a negative slope over the past 24 hours. Traders usually see this as a sign of buyers’ strength weakening. What’s more, the RSI remains sloped towards oversold, which could indicate that this trend shows no signs of slowing down.

Meanwhile, a major bearish technical flag was triggered by the MACD indicator on the 4-hour chart. This was after the MACD crossed below the MACD Signal line throughout the past day of trading to signal that PEPE’s positive cycle has ended and a new more bearish phase has commenced.

With Pepe under overwhelming pressure from bears, some investors are turning to the multi-chain Dogecoin derivative Dogeverse (DOGEVERSE) for potential parabolic gains as its launch nears after a blowout presale that’s raised more than $15 million.

The First Chain-Traveling Meme Coin

Dogeverse is the first meme coin to reside on multiple blockchains, aligning perfectly with the Web3 industry’s push to make the crypto space more interoperable.

Inspired by Dogecoin, Dogeverse allows investors to travel multiple chains in search of the best decentralized yield-generating opportunities. This includes DeFi protocols on highly-liquid and active networks such as Avalanche, Polygon, Solana, BNB Chain, Ethereum, and the layer 2 network, Base.

Why limit to one when you can have it all? $DOGEVERSE begins on the secure #Ethereum network, ensuring robust security and reliability. 🛡️💻
🔥 Bridging gaps between #Cryptocurrency ecosystems, we enhance liquidity, utility, and fun across the entire #Cryptoverse! 🎉#AltSeason pic.twitter.com/zOg8albhry
— DogeVerse (@The_DogeVerse) May 3, 2024

Investors won’t have to go far to start growing their holdings in the DeFi realm, given the native staking solution housed within the Dogeverse ecosystem on the Ethereum network. With an annual percentage yield of 56%, tokens holders and investors will find it difficult to find a more competitive staking opportunity.

Whales Join The Feeding Frenzy

Whales are gobbling up DOGEVERSE, too, with one particular large investor recently buying $183,000 of DOGEVERSE using ETH.

YouTuber Jacob Crypto Bury says DOGEVERSE has the potential to generate 100X returns for investors after launch.

Anyone looking to buy the meme coin at this early stage still has time. Investors will want to hurry, however, given Dogeverse’s launch is around the corner. To take advantage of a last opportunity to buy the meme coin through its ICO, investors can navigate to the project’s website.

Once there, the simple buy widget embedded on the site can be used to acquire DOGEVERSE, which is selling for $0.00031. Due to its multi-chain nature, the crypto can be bought using either BNB, AVAX, SOL, ETH, MATIC or BASE. USDT and bank cards are also available options.

It’s important to remember that the amazing staking opportunity is only present on the Ethereum chain. Therefore, investors will need to purchase DOGEVERSE using ETH to be able to lock up their tokens for these rewards.

Purchase and stake Dogeverse here for up to 56% in annual rewards.

Dogeverse – Multichain Meme Coin