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The Pépé Prize dived more than 6% in the last 24 hours to trade at $0.00001023 as of 12:55 a.m. EST, as some investors sell their holdings in the meme coin.
PEPE's recent loss marks a break from its upward trend last month. In the last 30 days alone, the crypto has more than doubled its value with a 113% pump.
Pepe Price loses key support
4-hour chart for PEPE/USD (Source: GeckoTerminal)
THE Pepe the price fell below the key support level at $0.00001105 in the last 24 hours. Sellers also attempted to push the altcoin price below the $0.00000982 support, but the bulls managed to defend the mark.
With Pepe's price stabilizing over the past few hours, buyers could identify its current levels as a buy entry or sellers will continue to put pressure on the meme coin.
If bulls enter the PEPE charts in the next 12 hours, the crypto could attempt to reclaim the $0.00001105 support. A 4-hour candle closed above this threshold could then give the coin the basis needed to continue rising, potentially reaching $0.00001228.
On the other hand, if the bears continue to dump PEPE, its price could fall below the $0.00000982 support in the near term. This could then put Pepe price at risk of falling to the next bar, at $0.00000842, in the following 24-48 hours.
Technical Data Suggests Pepe Price Still at Risk
Technical indicators on the 4-hour chart of PEPE warn that the same coin is at the mercy of sellers, who currently have the upper hand over buyers. The Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) suggest that Pepe price may continue to decline.
The RSI is on a negative slope over the last 24 hours. Traders generally see this as a sign of weakening buyer strength. Additionally, the RSI remains biased towards oversold, which could indicate that this trend shows no signs of slowing down.
Meanwhile, a major bearish technical flag was triggered by the MACD indicator on the 4-hour chart. This was after the MACD moved below the MACD signal line throughout the last trading day to signal that the positive PEPE cycle is over and a new, more bearish phase has begun.
With Pepe Under overwhelming pressure from bears, some investors are turning to the Dogecoin multi-chain derivative Dogeverse (DOGEVERSE) for potential parabolic gains as it nears launch after a stellar presale that raised more than $15 million.
The first meme coin traveling on a chain
Dogeverse is the first meme coin to reside on multiple blockchains, aligning perfectly with the Web3 industry's desire to make the crypto space more interoperable.
Inspired by Dogecoin, Dogeverse allows investors to scour multiple chains in search of the best yield-generating decentralized opportunities. This includes DeFi protocols on highly liquid and active networks such as Avalanche, Polygon, Solana, BNB Chain, Ethereum and the layer 2 network, Base.
Why limit yourself to just one when you can have it all? $DOGEVERSE starts on secure #Ethereum network, ensuring robust security and reliability. 🛡️💻
🔥 Bridging the gaps between #Cryptocurrency ecosystems, we improve liquidity, utility and enjoyment overall #Cryptoverse! 🎉#AltSeason pic.twitter.com/zOg8albhry
– DogeVerse (@The_DogeVerse) May 3, 2024
Investors won't need to go far to start growing their holdings in the DeFi space, given the native staking solution hosted within the Dogeverse ecosystem on the Ethereum network. With an annual percentage yield of 56%, token holders and investors will be hard-pressed to find a more competitive staking opportunity.
Whales join the feeding frenzy
Whales are also gobbling up DOGEVERSE, with one major investor recently purchasing $183,000 worth of DOGEVERSE using ETH.
YouTuber Jacob Crypto Bury claims that DOGEVERSE has the potential to generate 100X returns for investors after its launch.
Anyone looking to buy the coin even at this early stage still has time. Investors will want to hurry, however, given that the Dogeverse launch is fast approaching. To take advantage of one last opportunity to buy the same coin via its ICO, investors can access the project's website.
Once there, the simple on-site purchase widget can be used to acquire DOGEVERSE, which sells for $0.00031. Due to its multi-chain nature, crypto can be purchased using BNB, AVAX, SOL, ETH, MATIC or BASE. USDT and bank cards are also available options.
It is important to remember that the incredible staking opportunity is only present on the Ethereum chain. Therefore, investors will need to purchase DOGEVERSE using ETH to be able to lock their tokens for these rewards.
Shop and stake on Dogeverse here for up to 56% annual rewards.
Related Articles:
Dogeverse – Multichain Meme Coin
- Early Access Presale Online Now
- Bridge to Solana, base, BNB chain, polygon, avalanche
- Faceoff Rewards – thedogeverse.com
- Trade with low fees
- The world's first roaming chain doge – Cosmo
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