Pepe Coin (PEPE) is trading at $0.00000067, down 0.5% over the last 24 hours. Its market capitalization stands at $264 million, placing it at position 100 on the CoinMarketCap ranking.
As it trades below a descending trendline, Pepe Coin features among the top 5 trending cryptocurrencies on CoinMarketCap on Friday, as shown in the figure below. The other trending articles are Bitcoin (BTC) which is up 1.5% over the last 24 hours and Shiba Inu (SHIB) whose price has increased by 2.3% over the same timeframe.
Trending Cryptos Today
On the longer timeframe, PEPE remains bearish as it trades 84% below its all-time high at $0.000004354 reached on May 5. It is also down 47% over the last month and 30% below its level three months ago.
The seemingly negative market sentiments reinforce the negative trajectory taken by Pepe Coin. According to data from Alternative, a platform that tracks “emotions and sentiments” around cryptocurrencies, the Crypto Fear and Greed Index is still in the negative region.
Note that this index has been below 50 over the last 30 days, except for a few days in August when it rose above this.
Crypto Fear and Greed Index
The current value of 45 suggests that investors are worried about their investments. However, Alternative says that this might also present a “buy opportunity” as bulls amass more at a discount before initiating a recovery.
Given these low levels displayed by the dog-themed crypto, is PEPE on a path to a 50% rise in the coming weeks?
Pepe Coin Bulls Eye Return To $0.0000010
PEPE price has been underpinned by a descending trendline since mid-August. The token found support from the $0.00000065 support level and has been moving above this level in a sideways price movement.
These lower levels allow late investors to buy Pepe Coin at a discount. If this happens, the ensuing demand pressure could push the price above the descending trendline at $0.00000070.
The first line of resistance would emerge from the $0.00000080 psychological level. Above that, the price could rise toward the $0.0000010 level, embraced by the 50-day Simple Moving Average (SMA). Such a move would represent a 50% uptick from the current price.
PEPE/USD Daily Chart
The Moving Average Convergence Divergence (MACD) indicator has abandoned a call to sell PEPE on the same daily chart as the MACD line remains above the signal line. This means that the buyers have begun re-entering the market.
The Relative Strength (RSI) was tipping upwards. It also showed that the Pepe Coin was recently oversold, suggesting a trend reversal was in the offing. As seller exhaustion sets in, PEPE will likely turn up from the current level to kickstart an uptrend.
On the downside, both the oscillating indicators were moving within their negative regions, suggesting that the market conditions still favored the downside. As such, PEPE could turn down and continue the downtrend toward the $0.00000060 psychological level and later to the opening price at $0.00000020.
If you are unsure of Pepe Coin as a good investment in 2023, you could look into new cryptocurrency in presale with a low risk-to-reward ratio and the potential to make 100X returns this year. One of these cryptos is Bitcoin BSC., which is discussed next.
Bitcoin BSC (BTCBSC) is a new BEP-20 token built on the BNB Smart Chain. It gives the same opportunity to investors that the pioneer crypto Bitcoin (BTC) presented in April 2011 when it was going for less than a dollar. This is why its price is only $0.99 in the ongoing presale launched over a week ago.
The presale is a massive hit among crypto users, having raised more than $2 million.
🚀Breaking News!📢#BitcoinBSC has passed the remarkable $2 million mark!
A massive shoutout to the incredible #CryptoCommunity for their huge support!
— Bitcoinbsc (@Bitcoinbsctoken) September 15, 2023
On average, it is raising about $250,000 per day, meaning early adopters have a short window of opportunity before the presale ends. This will happen once the raise hits its soft cap of $3.96 million.
One of the most followed crypto YouTubers, Joe Parys, reviewed Bitcoin BSC for his over 380,000 subscribers and believes BTCBSC has the potential to make 100X returns.
You can buy BTCBSC using ETH, BNB, or USDT.
Visit Bitcoin BSC here for more information on how to participate in the presale.
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