Degen Price Prediction: Base Token DEGEN Soars 64% In A Week, But Experts Say This Layer-2 PEPE Could Go Parabolic

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Insidebitcoin2024/10/04 11:39

coin_news.by:Insidebitcoin

The Degen price soared 64% in a week and 8% in the last 24 hours to trade at $0.008468 as of 00:25 a.m. EST on trading volume that surged 49% to $46.8 million.

Degen Price Aims For A Continued Bullish Trend Reversal

The Degen price has been on a sustained consolidation in September, trading within the $0.0050 range, according to data from GeckoTerminal . However, the $0.012 resistance allowed the bears to take control of the price, exerting pressure on the price towards a correction.

After the significant price rally and subsequent drop, the price started to round off into what looks like a rounded bottom pattern, which is generally considered a bullish reversal pattern.

The price has started to break upward after forming this rounded bottom, potentially indicating a resumption of the prior bullish trend.

DEGEN now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), affirming the sentiment that the price of Degen is still on a bullish trend.

Additionally, the Relative Strength Index (RSI) also suggests that buyers have the upper hand, as the RSI hurtles towards the 70-overbought region, currently at 63.

The MACD line (blue) is above the signal line (orange), with a slight positive divergence. This suggests that bullish momentum is starting to gain strength, and the crossover happened recently, which might explain the price recovery from the dip.

The histogram shows increasing green bars, further confirming that momentum is building toward the upside.

DEGENUSD Chart Analysis Source: GeckoTerminal.com

Degen Price Prediction

According to the DEGEN/USD chart analysis on the 1-hour chart, the price of Degen is currently on a bullish trend reversal, which the bulls aim to sustain to be able to push the price of Degen towards a rally.

If the bulls take advantage of the rounding bottom pattern and the major indicators, the price of Degen may soar even higher as they target the $0.012 resistance.

However, the RSI may soon be oversold, indicating that the Degen price may soon become overvalued. If the bears take control of the price, the Degen price may soon plunge, with $0.005792 acting as the next support zone (200-day SMA).

As the Degen price bulls aim for a continued bullish rally, the Pepe Unchained (PEPU) presale seems to have only one mode: maximum bullish.

According to 99Bitcoins, a popular crypto YouTube channel with over 706k subscribers, PEPU could be the next 10x meme coin.

Pepe Unchained Presale Surges Past $17.3 Million

Pepe’s latest and most badass version, complete with its own Layer 2 chain on Ethereum, has hurtled past $17.3 million in funds raised in one of the most successful presales of the year.

Whales are still buying into PEPU, with the latest being a $58k purchase.

The OG Pepe (PEPE) has maintained positive growth since its launch, as it continues to be in the top three meme coins by market capitalization.

However, Pepe is not without shortcomings. The token was originally built on the Ethereum blockchain and has long been confined by its Layer-1 technology, which is hampered by network delays and rising gas fees.

The idea behind Pepe Unchained is that it will free PEPE from his old, clunky blockchain to embrace the future.

The project is thus set to tackle the scalability, speed, and efficiency issues that often plague meme coins built on Layer-1 blockchains like Ethereum. As a result, Pepe Unchained enables investors to seize market opportunities with greater efficiency.

Token holders can also earn passively through the platform’s staking system , which offers 125% in annual rewards.

You can buy $PEPU tokens for $0.00991 each right now. With a price hike coming in less than 14 hours, buy soon to lock in the best deal.

To join the presale, buy $PEPU from the official website here using ETH, USDT, or a bank card.