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The Pepe price surged 5% in the last 24 hours to trade at $0.000007768 as of 00:47 a.m. EST on trading volume that skyrocketed 23% to $684 million.

This comes as the meme coin space rebounded in the last 24 hours with a 5% surge to hit a $38 billion market capitalization.

Pepe Price Bulls Aiming For A Breakout

The Pepe price has been trading within a range in the last two weeks as PEPE went into consolidation between the $0.000008665 resistance and the $0.000007212 support, according to data from GeckoTerminal.

PEPE has now crossed above the 50-day Simple Moving Average (SMA), which could be an indication that the price of Pepe is moving towards an uptrend. If this move is completed, PEPE could overcome the 200-day SMA, which now acts as the immediate resistance at $0.000009726.

The Relative Strength Index (RSI) is also trading up above the 50-midline level as it hurtles towards the overbought region, a confirmation that the asset is under buying pressure.

Moreover, the Moving Average Convergence Divergence (MACD) is also bullish, as the MACD moves above the neutral line.

Pepe Price Chart Analysis Source: GeckoTerminal.com

If the bullish stance continues, the price of Pepe could breach the upper boundary of the sideways pattern, as the bulls target $0.000010.

However, if the bears exert pressure at this level, PEPE could plunge back to the $0.0000070 in the short term.

As the Pepe price soars, PEPE investors are also buying into a new alternative, Pepe Unchained (PEPU), which has raised over $9.5 million in its blockbuster presale.

Pepe Unchained Presale Blasts Past $9.5 Million – Best Meme Coin To Buy Now?

Pepe Unchained aims to follow in the footsteps of PEPE, which has continued to be among the top meme coins by market capitalization.

However, PEPE is built on the Ethereum blockchain, which is mostly handicapped by network delays and rising gas fees.

Pepe Unchained (PEPU) stands out from other meme coins by introducing its native Layer 2 chain on top of Ethereum’s network.

Pepe is preparing to launch his own Layer 2 blockchain solution soon:
🧠 Instant bridging between ETH and Pepe Chain
🧠 Lowest transaction fees
🧠 100x faster transaction speeds compared to ETH
🧠 Dedicated Block Explorer
Get ready to join the future with Pepe Unchained! ⛓️🐸 pic.twitter.com/9gxNnddMyq
— Pepe Unchained (@pepe_unchained) July 18, 2024

The move not only liberates it from Ethereum’s limitations but also brings unprecedented speed, scalability, and significantly lower fees.

Token holders can earn passively through the platform’s staking system, which offers an annual percentage yield (APY) of 208%.

99Bitcoins, a prominent crypto channel on YouTube with more than 706k subscribers, has reviewed the token and says $PEPU is one of the best cryptos to buy now. It adds that it could soar 100X after its launch.