Despite an incredible surge of over 50,000% between April 15 and May 5, Pepe Coin (PEPE) is experiencing a significant decline of more than 60% from its peak, with 15% of the drop occurring in the past week.
Uncertainty looms over the meme coin’s future potential, causing market participants to question how much further the crypto prices may fall.
Pepe Coin Price Prediction: Mixed Signals Emerge Amid Bearish Undertones
A glimpse at the EMAs on the 4-hour chart spells trouble for the Pepe coin price. The 20-EMA is at $0.00000116, the 50-EMA resides at $0.00000125, and the 100-EMA sits at $0.00000134.
The fact that shorter-term EMAs are below the longer-term ones indicates a continued downtrend.
RSI and MACD Suggest Selling Pressure
This bearish pattern is supported by the RSI of 46.88, slightly higher than yesterday’s 39.09 but still below 50 to show the presence of sellers.
Similarly, the MACD histogram is -0.00000006391, less negative than yesterday’s -0.00000007741 but still signaling upward momentum challenges that could lead to a further price decline.
Volume and Market Cap Point to Optimism
In contrast, the trading volume shows an optimistic scenario with a 27.00% increase over 24 hours to $241 million, according to CoinMarketCap.
The market cap also looks slightly bullish with an impressive jump of 20.23% to $492 million.
Pepe Coin Price Faces Stern Test at $0.000001258
However, these positive signs should be treated cautiously as the Pepe coin price of $0.000001236, though up 3.06% for the day, faces strong resistance at the Fib 0.786 level of $0.000001258.
Pepe Coin Price May Retest Lower Support
Pepe Coin’s support is between $0.000000981 and $0.000001007. Failure of these levels could see the Pepe Coin price retest lower support at the Fib -0.236 extension level of $0.000000850, near the previous horizontal support on May 3.
Pepe Coin Price: Technical Indicators Suggest Downward Trend
The current Pepe Coin technical indicators present a mixed outlook. Although some bullish elements have emerged, bearish undertones remain.
Traders should exercise caution and closely watch support and resistance levels to determine the crypto asset’s next move.
The path of least resistance appears to be downward for now, and significant support and resistance levels should be closely monitored in the immediate future.
Amid the chaos surrounding Pepe Coin, Launchpad XYZ offers stable ground. The promising web3 crypto startup has reached a key fundraising milestone, racking up $918,000 so far in its presale funding.
Launchpad XYZ is channeling the funds into realizing its vision — an all-inclusive portal to web3 trading. While other cryptocurrencies experience volatility, Launchpad XYZ maintains a steady course.
Visit Launchpad XYZ Now
Significant Milestone Attained by Launchpad XYZ – A New Web3 Trading Hub
Launchpad XYZ is making significant strides in its fundraising efforts with $LPX entering the second stage of its presale after achieving a noteworthy milestone of $918,000.
This milestone is particularly impressive, given that the project was launched only a few weeks ago.
$LPX’s price has increased from $0.035 to $0.0445, and once the presale reaches $1.55 million, the price will rise to $0.046.
Launchpad XYZ is diligently working towards developing a comprehensive web3 platform.
According to the project’s Whitepaper, the endeavor targets the notoriously fragmented and challenging web3 space, with the goal to make it more user-friendly and accessible to users.
The platform is being designed to present users with easy access to the finest projects in the cryptocurrency market while offering the capability to self-custody any asset.
Launchpad XYZ will serve as a fair, curated gateway into the web3 most thrilling experiences, ranging from NFTs to play-to-earn crypto games.
$LPX’s price is projected to increase incrementally to $0.0565 through nine subsequent presale stages.
An Access Point to Web3 Trading, Gaming, and Metaverse
Launchpad XYZ intends to offer its users a comprehensive array of tools necessary for trading, investing, and analyzing NFTs, fractionalized assets, utility tokens, and web3 presales through its decentralized exchange and trading terminal.
The anticipation surrounding Launchpad XYZ is mounting due to its potential to provide the requisite tools to spot the next 100x Web3 asset.
As an additional benefit, the platform also features an educational section for beginners.
The ‘Alpha’ section will guide new users on factors impacting their potential yield generation from Web3.
An informative newsletter, ‘Trading Edge,’ is available for subscription for the more seasoned traders and investors.
Launchpad XYZ also plans to include a gateway to the metaverse and play-to-earn web3 gaming for its users.
With Launchpad XYZ’s proprietary web3 wallet, users can take immediate self-custody of their crypto assets.
Launchpad XYZ’s ability to serve as a bridge between Web2 and Web3 is expected to successfully onboard its initial goal of 10 million users.
$LPX Token – The Native Token of the Launchpad XYZ Ecosystem
Serving as the economic cornerstone of the Launchpad XYZ ecosystem, the $LPX token is a vital component of its economic infrastructure.
Owners of the token, especially those staking a minimum of 10,000, stand to gain an array of benefits.
These include discounted fees, access to partner discounts, whitelists of NFT mints, presales, beta play-to-earn game launches, and community prestige badges.
As part of their roadmap, the startup has slated the launch of some of the main platform features, including the Launchpad Feed, Token and NFT Directory, Metaverse Library, and Gaming Hub, for Q3 2023.
If this comprehensive platform garners substantial user adoption, it could generate significant demand for the native $LPX token.
Visit Launchpad XYZ Now
Read the full article here
