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The Spike price has surged 16% in the last 24 hours to trade at $0.03412 as of 6:15 p.m. EST on a 5% jump in trading volume to $7.3 million.
Spike is the first documented drawing that Matt Furie, the creator of Pepe, ever made, says the project’s website.
“In crypto, it is always the original that ends up being the most valuable,” it adds. “Cryptopunks, Ethereum, Bitcoin. The first is always rewarded… while everything after it is seen as a form of derivative.”
Spike Price Outlook: SPIKE May Break Above The Falling Wedge Pattern
The SPIKE price has experienced a slight decline after hitting a resistance point at the $0.04354 level. Following this peak, a downtrend has formed as bulls and bears vie for control, resulting in a falling wedge pattern, according to GeckoTerminal data. Traders often see this pattern as a signal for a potential bullish trend reversal.
SPIKEUSDT Analysis. Source: Tradingview.com
SPIKE is below the 50-day Simple Moving Average (SMA) but remains above the 200-day SMA, indicating some positive momentum.
The Relative Strength Index (RSI) has corrected from the overbought zone at 70, dropping slightly below the midline to 46. Meanwhile, the MACD indicator, although falling, supports the bearish trend with diminishing green bars and a recent crossover above the signal line, which has boosted bear confidence.
However, since the MACD remains above the neutral level, there’s a high chance it could rebound, favouring the buyers and shifting momentum back to bullish.
Spike Price Prediction: Bulls May Continue The Rally
The SPIKE price is poised for a significant bull rally. The falling wedge pattern boosts bullish momentum and pushes the price towards its previous high of $0.04354. Increased momentum could drive the price to a new high of $0.05372 in the coming weeks.
However, if the bears gain control, the price could drop to the support level of $0.03286, aligning with the 200-day SMA. Continued downward pressure may lead to a further decline, potentially reaching the upper trendline of the wedge at $0.02919.
Pepe Unchained ($PEPU) Presale Blasts Past $2.4 Million
Another meme coin that’s surging along with SPIKE is the new meme coin presale Pepe Unchained ($PEPU), which has rocketed past $2.4 million in funds raised.
Pepe Unchained stands out from other meme coins thanks to its native Layer 2 network, which offers remarkable speed, scalability, and much lower fees. And, more importantly, it unchains PEPE from its original, clunky, and limiting blockchain.
With transaction speeds 100 times faster than most Ethereum-based meme coins, Pepe Unchained also includes its own blockchain explorer, significantly boosting its transaction capabilities.
Pepe is hard at work!
His Layer 2 blockchain is coming out soon. Stay tuned for the launch! 🐸 ⚒️ pic.twitter.com/ouHZNluT0n
— Pepe Unchained (@pepe_unchained) July 5, 2024
Pepe Unchained rewards early buyers generously. Participants in the current presale can purchase the meme coin and take advantage of an enticing staking opportunity with a 783% Annual Percentage Yield.
Crypto YouTuber Jacob Bury says Pepe Unchained could be the next 10x PEPE derivative.
Interested investors can purchase PEPU tokens for $0.0082927. Buy soon, though, because a price hike is coming in less than two days.
BUY PEPU using ETH, USDT, BNB, or a bank card.
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