Pepe Coin Sets Record High, AI Meme Coin Secures $3M Funding for Future Growth
As meme coin markets go into overdrive, Pepe has set a record high. But as PEPE price analysis suggests a looming downturn, could this AI meme coin be more promising?
This article will provide an analysis of PEPE’s current price trends and look to see whether a newer AI meme coin, Scotty the AI, represents a more promising investment opportunity at this time.
Some people sold their $PEPE for half the price 13 hours ago. pic.twitter.com/UpL7WdVk7Z
— Plazma (@Plazma0x) March 6, 2024
Crypto market sentiment remains bullish on 2023’s biggest breakout meme coin, however, markets remain currently volatile – with big moves shaking out weak-handed investors.
As price action reels for the recent record high, Pepecoin is currently trading at a market price of $0.00000675 (representing a 24-hour change of -6.11%).
Retracement comes after explosive movements on March 5 saw Pepecoin hammer a new all-time high at $0.000008518.
Having caught support around the $0.000006 price level, holders are forcing a well-defended consolidation that leaves price poised for upside moves in a bullish pennant pattern.
However, PEPE price still remains at a significant +115% divergence above vital support from the 20 DMA (which is sat at $0.000000317).
This could indicate a need for retracement – a view backed by the RSI – which has been severely over-heated for 10-days, and currently stands at a bearish 79.18.
The MACD also now stands on the verge of flipping to bearish divergence, with a miniscule reading of 0.000000051 suggesting Pepecoin rally momentum has fleeted.
Yet, still sat on a +646% month-on-month gain, PEPE price analysis suggests Pepecoin could undertake further upside movements following a longer consolidation period.
To the upside, PEPE price is
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