Pepe Price Prediction: PEPE Plunges 7% In A Week As This P2E DOGE Derivative Comes Within A Whisker Of $5 Million

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The Pepe price has plunged more than 7% in the past week following a 3% loss in the past 24 hours to trade at $0.00001094 as of 12:00 a.m. EST.

The recent losses were enough to flip PEPE into the red over the past month, too.

The Pepe Price Loses A Key Support

4-hour chart for PEPE/USD (Source: GeckoTerminal)

The Pepe price attempted to break above a negative medium-term negative trend line that emerged on its charts. It managed to briefly overcome this mark, but a rejection from the $0.00001216 resistance level in the last 24 hours caused PEPE to plunge back below the descending line.

Traders also pulled the Pepe price below the immediate support at $0.00001105. Should the crypto fail to reclaim a position above this mark within the next 12 hours, it could be at risk of plunging to as low as $0.00001002 in the short term.

On the other hand, PEPE closing a 4-hour candle above the $0.00001105 mark in the next 12 hours could invalidate the bearish thesis. In this alternative scenario, the Pepe price might try to challenge the negative trend line.

A break above this threshold could then give the meme coin the technical foundation needed to potentially rise to the aforementioned $0.00001216 resistance.Continued buy pressure should PEPE reach this point might then lead to the Pepe price overcoming the technical obstacle to continue to rise in the following couple of days.

The Pepe Price Could Keep Falling As Technicals Flash Bearish

Technical indicators on PEPE’s 4-hour chart suggest the crypto’s price could keep falling in the coming 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are flashing bearish.

Throughout the past 24 hours, the RSI line dropped below 50. Traders usually see this as a sign that sellers have gained the upper hand against buyers. If this is true in this case, it might be easier for bears to pull the Pepe price down than it will be for bulls to push it up in the next 24 hours.

Meanwhile, the MACD is on the verge of triggering a major bearish technical flag. Currently, the MACD line is looking to cross below the MACD Signal line on the 4-hour chart. An intersection between these two lines could indicate that the Pepe price has entered a negative short-term phase.

As PEPE tries to overcome the bearish pressure that has entered its charts, the presale for Play-To-Earn Dogecoin derivative PlayDoge (PLAY) is on the cusp of hitting $5 million.

Meme Coin Mania Combined With The Growing Blockchain Gaming Sector

Meme coins have been a hot topic in the crypto space over the past few weeks. Looking to capitalize on this hype is PlayDoge (PLAY).

Growing a presence within the vibrant meme coin space is a tough ask for many cryptos, but not PLAY. This is because the project is reviving a ’90s gaming classic that sold over 82 million units globally back in the day.

Based on the viral Tamagotchi game, PlayDoge introduces much more interesting gameplay by incorporating tokenized rewards that are enabled through blockchain and crypto technology.

Unlike its predecessor, PlayDoge’s iteration of the game will reward players for taking care of their digital pets. By making sure that their virtual companions get enough sleep, food and attention, players can earn PLAY.

What’s more, PlayDoge is mobile friendly. This means that players can accumulate rewards on the move as well.

Its appeal to meme coin investors, who are known to pump crypto prices, and its Play-To-Earn function have caught the attention of analysts. Renowned crypto YouTuber Jacob Bury recently told his 40.9k subscribers that PLAY could be a 10X opportunity.

Competitive Staking Rewards For ICO Buyers

Investors are rushing to buy PLAY at this early stage, which is evident by the success of its presale to date. This investor frenzy around the new meme coin is likely to continue given the lucrative staking opportunity available to presale buyers. Anyone who purchases and locks up PLAY during its ICO gains access to a 142% APY.

To get in on this opportunity, investors can utilize the simple buy widget embedded on the project’s website. The token is selling for $0.00511 and can be bought using either ETH, USDT, BNB or bank card.