The Pepe price plunged 7% in the last 24 hours to trade at $0.000008625 as of 4 a.m. EST on trading volume that surged 36% to $735.6 million.
PEPE was recently under the spotlight after Crypto.com announced that it is holding a million-dollar giveaway featuring Pepe tokens, with the possibility to win up to $25,000.
There will be 100,000 winners in total, and the giveaway ends on July 31.
However, while this likely helped boost the token’s price earlier this week, the new price drop comes amid a market-wide correction. Most of the top 10 largest meme coins by market cap are in the red today, with losses of anywhere between 3% and 11%.
Pepe Price Prediction
While Pepe price did see a considerable drop in the last 24 hours, there are signs that the situation might turn for the popular meme coin in the near future.
Some technical indicators are giving away bullish signals, so it is not impossible for the current bearish wave to be suddenly interrupted. For example, Pepe’s Bollinger bands remain quite wide, which is a good sign.
More than that, the price is no longer pushing the lower band further down, but has instead returned to the middle are between the two bands.
However, the real hint at the potential price recovery comes from the project’s Relative Strength Index (RSI), which recently crashed from the overbought zone to the oversold area, only to start recovering back to ward the neutral zone.
This suggests that traders are starting to buy PEPE, likely due to its low price. Buying the dip is a common strategy, which leads to selling the token once its price improves somewhat. But, if those who use this indicator to make their move see the RSI growth, this might trigger a recovery.
For now, it is difficult to say anything for certain, and each trader should make their own price analysis and come up with their own conclusions. One thing that can be said is that this is a highly volatile period, so getting involved with the crypto industry right now carries a higher amount of risk that traders should be ready for.
Promising Alternatives to Pepe
Regardless of what happens to Pepe in the hours and days to come, there is no denying that this is a particularly volatile time for the crypto industry.
For those not willing to take on the risk of high volatility, there is an alternative — a new Pepe-inspired meme coin known as Pepe Unchained (PEPU) . Because it’s in presale, it’s shielded from the volatility of markets until it lists.
Pepe Unchained is the newest Pepe-based meme coin, and it stands out as the first Pepe to have its own blockchain. The chain in question is a Layer-2, developed on Ethereum’s network.
Thanks to this, Pepe Unchained enjoys the same Ethereum security as other Ethereum-based tokens, but because of its L2 chain, it is free of the bindings that hold the rest of them back.
In practice, this means that it is far more scalable, with faster transfers, short wait times, and much lower transaction fees.
The project also has its own dedicated block explorer for transparency purposes. All of this reflects positively on its ongoing ICO, which has raced past $3.2 million in funds raised in about three weeks.
The YouTube channel 99Bitcoins, which has over 705k subscribers, believes that the token has massive potential and that it might even become the new dominant version of Pepe.
PEPU currently sells for only $0.0083926. With its price scheduled to see its next increase in about a day and a half, those interested to buy should not wait too long before they make their move.
Visit the official website here to buy PEPU tokens.
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