Pepe rises as Layer 2 token Pepe Unchained emerges as new contender
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Pepe surges over 8% today, with its remake Pepe Unchained raising over $800k in presale, signaling strong interest in memecoins.
Pepe is back to its winning ways today, pumping over 8% and outperforming most other cryptocurrencies. Similarly, Pepe Unchained, a Pepe remake with its own layer 2 blockchain, is gaining pace as its presale raises over $800k.
Pepe price soars, but analysts call for further gains
It’s been a big day for memecoins after a slew of price-related woes in recent weeks. The sector’s total market cap is up by 4% today. This has outpaced the broader crypto market, which has seen a 1.5% increase.
However, Pepe has fared as one of the heaviest hitters, pumping 8.8%. This places it inside the five best-performing top 100 cryptos.
Currently, Pepe is priced at $0.00001268. It is up 8.4% this week but remains down 16.3% this month.
Its $5.3 billion market cap makes it the third-largest memecoin and 23rd-largest cryptocurrency. Meanwhile, its 24-hour trading volume is $1.1 billion, which renders it the eighth most-traded cryptocurrency.
Its high trading volume signals the market’s considerable interest and lays the way for further price growth. “PEPE is doing over $1 billion in volume every 24 hours (even without a Coinbase listing). No other memecoin is anywhere close, even the dogs with (Coinbase) listings,” said analyst Brian Garnett.
Moving to Pepe’s price chart, Elja underscored that its current price action mirrors that of before its previous all-time high (ATH). Put differently, the analyst suggests that Pepe may be gearing up for its next ATH in the coming weeks.
Analyst Limbo is also bullish. He highlighted that Pepe is trading at a key trendline resistance level. However, he also illustrates that its recent bounce comes at a key area of interest, which has acted as both support and resistance since March.
“PEPE chart has been a beauty for quite a while. Good strength again,” he said.
Indeed, Pepe has proven itself an illustrious fan favorite since its inception in 2023, and analysts anticipate its triumph will continue. This has also been a boon for Pepe alternatives.
For instance, Brett is a Pepe-inspired token that is up 150% this month and now the sixth-largest meme coin.
Another Pepe-themed project on the rise is Pepe Unchained. However, this is not an ordinary Pepe imitation – it’s the first Pepe token to have its own blockchain.
Pepe Unchained surges toward $1m, analysts predict surge
There’s been no shortage of interest in the Pepe Unchained presale, but a prominent analyst thinks much more is to come.
The project is raising funds to develop its own blockchain. So far, it has raised over $800k in just one week – a signal that investors are bullish on its memecoin-L2 crossover use case.
Per its website, the L2 is designed to handle transactions off the Ethereum main network. The “Pepe chain” will be 100x faster and magnitudes cheaper than using Ethereum.
Pepe chain will also focus on memecoins, strategically aligning crypto’s technological advancement with its memetic revolution. Indeed, investors see this as a big win.
While benefitting from the memecoin allure that is worth $48 billion, Pepe Unchained’s use case tackles Ethereum’s most pressing issue of scalability.
With that, there’s every chance that this could be the next big meme coin. And leading industry players are already on board. Well-known YouTube outfit 99Bitcoins suggests that PEPU can 10x after its presale.
However, the analysis also underscored that Pepe Unchained’s price will increase throughout the presale. The current price is $0.0080641, but this will rise in two days.
To learn more, visit Pepe Unchained presale.
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