The Pepe price plunged 10% in the last 24 hours to trade at $0.000009609 as of 5 a.m. EST on trading volume that surged 10% to $1.23 billion.

Pepe Price Prediction

Despite the recent price drop that Pepe experienced, some technical indicators suggest that the meme coin could soon see a recovery. Right now, it is difficult to say how big of a recovery it will be, as the wider market sentiment definitely has a say regarding the token’s performance, but PEPE could bounce back up to an extent.

Its Bollinger bands have started widening again and the price has stepped away from the lower band, approaching the middle point between the two lines. This is already a positive turn of events, as the price previously pushed the lower band down. Now, if the bulls manage to take over the market, the price could go from the neutral area between the two bands to pushing the upper band, which would be the most bullish outcome.

Then, there is the project’s Relative Strength Index (RSI) value, which recently dropped from the neutral zone to the oversold area, suggesting that traders were selling as the price of PEPE and other major cryptos continued to correct. However, as soon as the RSI dropped to the oversold zone at the value of 28.75, some of the traders moved in to buy the dip.

This increased demand, and the RSI started to climb back up, currently at 40.91. While this is still slightly below the true neutral value at 50, it still suggests that there are some willing to buy while PEPE sits at this low point, even if only for day trading purposes.

For the moment, it doesn’t seem like the market will be swept away by the bullish rally in the short term, but with Pepe closely following Bitcoin’s lead, it is unlikely that it will break away without a powerful catalyst.

Promising Alternative to Pepe

While Pepe’s performance is currently somewhat underwhelming, investors looking for more promising opportunities don’t need to look far. One of Pepe’s newest alternatives, known as Pepe Unchained (PEPU), is already one of the most successful ICOs of the year.

The project stands out from both Pepe and its other alternatives because it is the first meme coin inspired by the Pepe meme to develop its own blockchain. Pepe Unchained will go live on its own L2 chain, developed to help it overcome the issues of its peers, including the OG Pepe.

The original runs on Ethereum’s network as an ERC-20 token and, as such, it is hampered by Ethereum’s low scalability, slow transactions, and expensive fees.

Pepe Unchained resolves all of these issues with a more scalable Layer-2 blockchain of its own, and it developed additional tools and features, such as its own DEX, its own block explorer, and more.