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The Pepe price pumped over 7% in the last 24 hours to trade at $0.00001158 as of 4:40 a.m. EST as buyers re-enter the meme coin’s order books.
Despite the recent gain, the PEPE price is still down more than 12% on the weekly timeframe.
The Pepe Price Enters A Positive Sequence
4-hour chart for PEPE/USD (Source: GeckoTerminal)
The Pepe price rebounded off of the $0.00000953 support level in the last 24 hours. It has since entered into a positive sequence on the 4-hour chart, printing a series of higher highs and higher lows. If this bullish momentum continues, the meme coin might soon be able to flip the $0.00001269 resistance level into support.
Traders could subsequently look to enter into a long position for PEPE. With this potential buy volume, the Pepe price might have the backing needed to attempt a challenge at the next major threshold at $0.00001522 in the following 24 hours.
However, the Pepe price failing to close a 4-hour candle above $0.00001269 within the next 24 hours could invalidate the bullish thesis. In this alternative scenario, the meme coin stands the risk of correcting back down to the aforementioned $0.00000953 support.
Continued sell pressure should the Pepe price fall back down to this technical crutch could lead to it falling below this critical price point. An extremely bearish scenario might result in PEPE plunging to as low as $0.00000751 in the short term.
Fresh Bullish Signs Appear On The 4-Hour Pepe Price Chart
Technical indicators on PEPE’s 4-hour chart are flashing bullish, which could suggest the Pepe price will continue rising in the upcoming 24 hours. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators are showing positive signs.
Buyers recently gained an advantage over sellers, as signaled by the RSI value that broke above 50. The 50 mark is a focal point for many traders, because an RSI value below this benchmark indicates that bears are stronger than bulls. The inverse is true for a value above 50.
Given the RSI value recently surpassed 50, it might be easier for bulls to push the Pepe price higher in the coming 24 hours than it will be for bears to pull it down during the same period.
Meanwhile, the MACD triggered a major bullish flag in the last few hours after the MACD line crossed above the MACD Signal line. Traders usually see this as a sign that a crypto has entered into a positive cycle.
If the bullish signs presented by both the MACD and RSI indicators are validated, the PEPE price might soon challenge the $0.00001522 resistance.
PEPE’s surge is also likely to encourage investors to consider meme coin presales like the Play-To-Earn Dogecoin derivative PlayDoge (PLAY), which has rocketed to over $4.8 million raised in just a fraction more than 3 weeks.
Reviving A 90s Classic
PlayDoge is a Tamagotchi-style crypto project that aims to revive a 90s gaming classic. Following the original game’s launch, it did not take long for the virtual pets to go viral.
With more than 82 million gaming units sold globally, PlayDoge is looking to carry over this initial success into its own iteration of the once-popular game.
Given the big shoes that PlayDoge will have to fill, the project promises more interesting gameplay that is enabled through a tokenization element. Players are able to earn rewards in PLAY tokens by caring for their digital pets and ensuring they get enough food, sleep and attention.
In addition to the potential to earn rewards, there is also a lucrative staking opportunity that is available to anyone that purchases PLAY during its ongoing presale stage. Anyone that buys and locks up PLAY tokens during its ICO will stand the chance to earn up to 152% in annual rewards.
Is PLAY The Next 10X Opportunity?
Analysts are also bullish on the meme coin. Renowned crypto YouTuber Jacob Bury recently told his 40.8k subscribers that PLAY might be the next 10X opportunity.
Anyone that wants to acquire the token can do so through the easy-to-use buy widget embedded on the project’s official website. Selling for $0.0051, the crypto can be bought using either ETH, USDT, BNB or bank card.
Investors might want to hurry because the meme coin’s price is set to increase in less than 23 hours.
Purchase PLAY here before its next price increase.
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PlayDoge (PLAY) – Newest Launch On BNB Chain
- 2D Virtual Doge Pet
- Play To Earn Meme Coin Fusion
- Staking & In-Game Token Rewards
- SolidProof Audited – playdoge.io
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