Pepe Price Prediction: PEPE Dives 21% In A Month As Investors Flock To This Layer-2 Meme Coin And Its 1,050% APY

On Jul 2, 2024

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The Pepe price slumped 21% in the past month and nearly 5% in the last 24 hours to trade for $0.00001151 as of 00:15 a.m. EST on trading volume that plunged 10%.

It comes as the meme coin sector flashes red, including Dogecoin (DOGE) and Shiba Inu (SHIB), sending the sector’s market capitalization down by almost 2% to $48.76 billion.

Meme coins are still making waves! PEPE Coin recently saw a 13% drop, but there’s excitement around Kai Cat Coin as it gains momentum. Is this the next big contender in the world of crypto? Keep an eye on it! 🚀🐱 #Crypto #MemeCoins #PEPECoin #KaiCatCoin pic.twitter.com/kAiFq16ewR
— Meme Lord (@meme_llordd) July 2, 2024

Pepe Price Prediction

The Pepe price is testing the lower boundary of an ascending parallel channel. While the big picture remains bullish, this outlook is threatened as the meme coin records lower highs. If the support confluence between the 50% Fibonacci placeholder of $0.00001071 and the lower boundary of the channel break, the Pepe price could roll over.

Such a directional bias could see the altcoin sweep the sell-side liquidity residing underneath before a possible recovery. Traders may consider placing their stop losses around the $0.00001000 psychological level in the regard.

However, in the dire case where selling pressure overpowers buyer momentum, the Pepe price could extend the fall. Such a move would see the frog-themed token provide another buying opportunity around the $0.00000776 support level.

Notice the lower highs on the Relative Strength Index (RSI), signifying falling momentum. Its position below the mean threshold of 50 coupled with the position of the Moving Average Convergence Divergence (MACD) in negative territory tilts the odds further in favor of the bears.

GeckoTerminal: PEPE/USD 1-day chart

On the other hand, if the 50% Fibonacci placeholder holds as a support floor, the Pepe price could find a turnaround here. While a flip of the $0.00001335 resistance level into a support would be ideal, the bearish thesis will only be invalidated once the price clears the $0.00001800 threshold.

As the Pepe price fights to hold above the critical support, investors are piling into the new meme coin presale Pepe Unchained (PEPU), which has rocketed to $1.88 million in funds raised after bagging more than $660k in the past 48 hours

According to 99Bitcoins, a crypto channel on YouTube, PEPU is one of the best cryptos to buy now, with the potential to soar 100X after its launch.

Promising Alternative To PEPE

Pepe Unchained aims to emulate the success of predecessor PEPE, which has delivered mind-blowing returns to investors.

As its name suggests, Pepe Unchained aims to set Pepe free from his old, clunky Layer-1 world. PEPU will achieve this by running on its own proprietary Ethereum Layer 2 blockchain.

It’s thus tackling issues that often plague meme coins running on the Ethereum Layer-1 blockchain, including scalability, speed, and efficiency.

Pepe has broken his chains with his own layer 2 blockchain solution:
🧠 Instant bridging between ETH and Pepe Chain
🧠 Lowest transaction fees
🧠 100x faster transaction speeds compared to ETH
🧠 Dedicated Block Explorer
Join the future with Pepe Unchained! ⛓️🐸 pic.twitter.com/hluCsuV1Xz
— Pepe Unchained (@pepe_unchained) July 1, 2024

Token holders can earn passively through the platform’s staking system, which offers an annual percentage yield (APY) of 1,050%. More than 152 million PEPU tokens are already staked. The distribution of rewards will occur at a rate of 608.82 PEPU tokens per ETH block, to be disbursed over 2 years.

PEPU Staked