Pepe Price Prediction: PEPE plunged 13% in one week as this Dogecoin derivative reached $4 million.

adminJune 10, 2024

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Pepe prices have fallen 13% over the past seven days, trading at $0.00001270 as of 00:42 AM ET. As trading volume plummeted by 22%,

The price is up nearly 5% in the past 24 hours, according to CoinGecko data.

Traders have conflicting opinions on the next direction bias for the frog-themed token. Recognizing that the PEPE meme coin runs on the Ethereum blockchain, one trader highlights that if the Ethereum price strengthens, the price of Pepe will rebound.

“I think $pepe “You look weak here.”
Brother, I cannot for the life of me understand how you can be bearish on this chart. Take 5 minutes to sit back and enjoy the ride. $ETH We’re not even at the price discovery stage yet… That’s when the next part happens. pic.twitter.com/Bb9MH5vYvj
— Max (@MaxBecauseBTC) June 9, 2024

Others say the Pepe price rally hinges on support at the $0.00001139 level, potentially reaching an all-time high.

$PEPE
If the white line holds as support, it should move to the new ATH. pic.twitter.com/MBqrK9xm9m
— Crypto Michael (@MichaelXBT) June 9, 2024

Pepe price prediction

After hitting a series of highs since mid-April, Pepe price has surpassed this technical configuration. However, the breakout was short-lived as the frog-themed token is now within a descending parallel channel.

Although this is bearish, we cannot ignore that Pepe price continues to remain within a rising parallel channel, as shown in the 1-day chart for the PEPE/USD trading pair below.

According to the technical indicator forecast, the market is trending downward. The Relative Strength Index (RSI) is hitting low highs, indicating downward momentum. The moving average convergence divergence (MACD) is also below the orange band of the signal line, highlighting the bearish outlook.

A rejection at the center line of the falling wedge pattern could lead to Pepe price extending the decline, testing the confluence between the lower boundary of the channel and the horizon at $0.00001139.

In a severe case where the downtrend goes out of its way, a drop to $0.00000885 and, in fact, a drop below that would invalidate the big-picture bullish outlook.

pepe price

GeckoTerminal: PEPE/USD 1-day chart

On the other hand, if bulls increase buying pressure to overcome the resistance caused by the center line of the falling channel, this can lead to more buy orders. Nevertheless, PEPE is attractive to buy only above the $0.00001409 resistance line. This effectively means flipping the centerline of the rising parallel channel into a support base.

However, to confirm the continuation of the uptrend, investors should wait for a stable candlestick to close above $0.00001800, which would imply a higher high.

With conflicting opinions on the outlook for PEPE, some investors are turning to PlayDoge (PLAY), a new Dogecoin derivative that has raised over $3.5 million in pre-sale.

Cryptocurrency YouTuber Jacob Bury says it could be the next meme coin with 10x the potential when launched.

A promising alternative to PEPE

PLAY is a token that powers the PlayDoge ecosystem. The project is advertised as the ultimate Play-to-Earn (P2E) DOGE companion game. A mobile-based peer-to-peer game that transforms the iconic Doge meme into a Tamagotchi-style virtual pet.

#playdoji We are leading Tamagotchi into the 21st century. 🎆
Our app has games that allow you to earn money $PLAY Exchangeable Tokens #Cryptocurrency. ✅
We’ve given Tamagotchi the spec upgrade it deserves! 🌟#memecoin #playdoji #BNB #P2E pic.twitter.com/8negSBSmM1
— PlayDoge (@PlayDogeGame) June 9, 2024

PlayDoge brings the legendary Tamagotchi virtual pet concept to the new digital economy. Ecosystem participants play through a classic 8-bit side-scrolling adventure while embracing 90s nostalgia to earn cryptocurrency. You may enjoy financial incentives based on how well you care for your pet.

Take action early with us #Ticketing start! 🚀#playdoji with gamers #Cryptocurrency People who love taking a trip down memory lane. 💭
Get your tokens now! $PLAY
#P2E #memecoin #BNB pic.twitter.com/BBUtS3eFqV
— PlayDoge (@PlayDogeGame) June 4, 2024

The current price of PLAY token is $0.00505. This price list will only last for about 4 hours, so if you’re interested in getting the best price, get it quick.

Visit PlayDoge here to purchase.