The PEPE Price Approaching Crucial Support

The Pepe price plunged more than 11% over the past 24 hours to trade at $0.00001055 as of 12:00 a.m. EST as investors dump their holdings

Pepe price crashes more than 11% as investors dump their holdings in the meme coin

The PEPE price is down over 9% on the weekly timeframe, but remains in the green over a month with a 4% gain

Technical indicators on PEPE’s 4-hour chart suggest the meme coin’s price might drop in the next 24 hours

Investors might be better off considering presale meme coins, such as PlayDoge (PLAY), which could stand to benefit from the merging of two promising sectors

The Pepe price dropped more than 11% over the past 24 hours to trade at $0.00001055 as of 12:00 a.m. EST. This downturn comes as investors are quickly selling off their holdings in the meme coin, which has seen a massive rally in recent weeks.

The PEPE price is down over 9% on the weekly timeframe, but remains in the green over a month with a 4% gain. The meme coin began trading at $0.0000083 on March 23, and has since seen a lot of interest from investors looking to capitalize on PEPE’s meme status and potential for large gains.

Investors might be able to use the technical analysis provided below to make more informed decisions about their next crypto purchase.

Pepe Price Analysis (PEPE/USD) 4-Hour Chart

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

The Pepe price is approaching the key support at $0.00000941. Should it break below this technical crutch in the next 24 hours, it could be exposed to the risk of dropping further in the short term. In this scenario, PEPE might drop to as low as $0.00000738.

On the other hand, this bearish thesis could be invalidated if the meme coin is able to maintain a position above the $0.00000941 support for the next 24 hours. Traders might also look to enter into a long position for PEPE if the crypto does not breach this support.

The potential buy volume could then push the Pepe price to the next major resistance level at $0.00001282 in the following couple of days. In an extremely bullish scenario, PEPE might soar to the $0.00001497 threshold.

Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD)technical indicators on PEPE’s 4-hour chart both suggest that the meme coin’s price might continue to fall in the next 24 hours.

Both technical indicators have flashed bearish signs, which could be a warning to investors that sellers might gain the upper hand against buyers.

The RSI fell below 50 over the past 24 hours, suggesting that sellers might be looking to pull the Pepe price down. Furthermore, the RSI is negatively sloped, which could indicate that bears are growing stronger.

Meanwhile, the MACD line also crossed below the MACD Signal line, which traders usually see as an indication that a crypto has entered into a negative cycle. With the growing gap between the two lines, it seems that the bearish momentum is growing stronger as well.

Should these technical flags be validated, the Pepe price might lose the $0.00000941 support and potentially fall to the subsequent mark at $0.00000738.

Investors might be better off considering presale meme coins, such as PlayDoge (PLAY), which could stand to benefit from the merging of two promising sectors

Investors seeking to avoid the risks associated with meme coins that are already trading on the open market might want to consider PlayDoge (PLAY), a Play-To-Earn Dogecoin derivative that is still in its presale phase.

A Modern Version Of A 90s Gaming Classic

PlayDoge is a modern remake of the viral Tamagotchi game. Through blockchain and crypto technology, the project aims to reignite the popularity around these digital pets that saw millions of units sold worldwide in the 90s.

Unlike the initial version of the game, PlayDoge comes with a tokenized rewards element that enables more interesting gameplay and incentivizes players to interact with their digital animals.

By taking care of their pets and making sure they get enough attention, food and sleep, players are rewarded with PLAY tokens. The game is also mobile-friendly, so players can interact with their virtual pets on the go to potentially earn more rewards.

PlayDoge’s combination of the rapidly-growing blockchain gaming space and the already-flourishing meme coin sector attracted the attention of renowned crypto YouTuber Jacob Bury.

He concluded that the meme coin has the potential to return 10x gains after launch.

Investors Bet Big On PLAY

Investors

News source：https://www.kdj.com/cryptocurrencies-news/articles/pepe-price-approaching-crucial-support.html

The above is the detailed content of The PEPE Price Approaching Crucial Support. For more information, please follow other related articles on the PHP Chinese website!