Pepe Price Prediction: Pepe is going ballistic with 268% weekly gains as altcoin season begins, but traders say the meme coin could rise 100x in 2024.

pepe price pumping As meme coin Star continues to surge, up more than 268% in the past week and 12% in the last 24 hours, it is trading at $0.000007641 as of 2:15 a.m. ET.

Pepe price falls below the positive trend line.

PEPE/USDT 4-hour chart (Source: TradingView)

that much pepe The price has crossed the consolidation channel between $0.00000395 and $0.00000515 over the past 24 hours. A short-term positive trendline was then formed by a series of higher highs and higher lows on the 4-hour chart. However, the cryptocurrency price has recently fallen below this trend line.

If the bears keep Pepe price below this level, they could enter a short sideways channel. If history repeats itself, Meme Coin could enter another leg similar to what it did in the previously mentioned consolidation channel between $0.00000395 and $0.00000515.

A sudden wave of profit taking by traders could lead to a temporary decline in the price of Pepe. In a more bearish scenario, the cryptocurrency could fall to the $0.00000515 support level. Continued selling pressure could push the altcoin below $0.00000395 and potentially retest the subsequent support level of $0.00000271.

This bearish argument could be invalidated if Pepe price can close the 4-hour candle above the positive trend line over the next 12 hours. that much same corner You can then continue to climb to new heights for the next 48 hours.

Tech hints at a potential drop in Pepe’s price

technical indicators PEPE’s The 4-hour chart suggests that Pepe price may correct in the near term. Both Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) show that the bullish momentum of the meme coin has stalled.

The MACD line is still bullishly positioned above the MACD signal line. However, the slope of the MACD histogram has leveled off. This could be an early sign that Pepe price has entered a short-term bearish cycle.

The RSI line is also positioned above the simple moving average (SMA) line, indicating that buyers are ahead of sellers on PEPE’s 4-hours chart. The gap between the RSI and SMA lines is narrowing, so traders will want to keep an eye on this indicator as a crossing of the two lines could turn the momentum in Pepe price bearish.

As Pepe price attempts to continue his strong run, experts say: Sponge V2 Like the previous Sponge V1 from last year, it may explode 100x after launch.

Release a bigger and better version

Sponge V2 is the next version of the SPONGE token, which achieved 100x growth during the 2023 bear market. Investors who missed out on last year’s opportunity now have a second chance with the launch of the latest version of Meme Coin.

The SPONGE team plans to introduce several changes to the viral meme coin’s ecosystem, building on the token’s previous success. In addition to listing several major exchanges, Sponge V2 includes a play-to-earn racer game that is available in both paid and free versions.

In the paid version, players will need to use Sponge V2 tokens as credits for in-game assets and activities, while also getting the chance to win rewards paid in meme coins. This not only allows cryptocurrencies to expand into the burgeoning blockchain gaming sector, but also introduces a degree of utility to the ecosystem, making it more attractive.

Investors react positively to SPONGE’s polygon migration.

The project team responded to recent security incidents by fast-tracking token migration to the highly scalable Polygon blockchain. This strategic move exposes Meme Coins to a wider investment pool and reduces transaction costs for everyone transacting within the Sponge V2 ecosystem.

📣 Caution, #Sponger!

Here is some important information to remember: $sponge V2!$sponge V1 has been officially discontinued and V2 has been released. #polygon! 🔥

Learn more about token details below 👇https://t.co/TCdxgXx40w

🧵1/3 pic.twitter.com/YZzXOlKmHY

— $SPONGE (@spongeoneth) February 6, 2024

Investors responded positively to the migration, as more than $15.8 million was invested, according to the project’s official website. There are rumors that Sponge V2 will soon be listed on major exchanges, so interested investors should take action immediately.

SPONGE V2 is available for purchase here.

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