The PEPE price has surged by 22% today, rallying to $0.00001175 as the cryptocurrency market as a whole gains by only 1% in the past 24 hours.
This move means that PEPE is also up by 26% in a week, and while the popular meme coin is down by 1% in a month, it holds onto an impressive 620% increase in the past year.
This performance gives it plenty of momentum for the coming weeks and months, while PEPE’s enduring popularity will also likely feed into newer Pepe-themed meme tokens.
A strong example of such a coin is Pepe Unchained, a layer-two meme coin that has already raised $3.6 million in its increasingly popular presale.
Pepe Price Surges to Top Spot as $3.6 Million Pepe Meme Coin Emerges
PEPE has surged overnight largely because it’s compensating for recent losses and underperformance, with the token 37% down from the $0.00001717 ATH it hit in May.
It has lost some momentum this morning, yet after dipping in the early hours it has actually shot up by 4.5% in the past hour, with buyers quickly pouncing on it again.
Its indicators reflect this rebound, with its 30-day moving average (orange) rising steeply above the 200-day (blue), signalling its entry into a growth phase.
Source: TradingViewPEPE’s relative strength index is also bullish, since after diving from 80 to 60 a few hours ago, it has begun rising towards 70 again.
This would indicate that traders are turning to Pepe while the wider market continues to perform only modestly, with the meme token’s volume hitting $2.8 billion today.
This is massive for a meme coin, with numerous whales buying it up in the past couple of days.
Nascent(@nascentxyz) swapped $MKR positions for $PEPE and $LDO.
Nascent deposited 1,215 $MKR($3.41M) to #Binance 6 hours ago and then withdrew 141.23B $PEPE($1.57M), 281K $LDO($503K) and 3.4M $USDT from $Binance.
Nascent currently holds 608.85B $PEPE($7.49M).… pic.twitter.com/Sx1WyGFqt7
— Lookonchain (@lookonchain) July 16, 2024
As noted above, this interest also bodes well for other Pepe-related meme coins, with several newer tokens emerging in recent weeks.
While many of these coins will likely fall by the wayside as quickly as they appear, some are already showing more potential.
Possibly the most notable of these is layer-two project Pepe Unchained (PEPU), an ERC-20 token which has now raised just over $3.6 million in its snowballing presale.
We’ve hit another milestone! $3.5M raised!
Pepe’s blockchain journey is unstoppable. Thank you for your amazing support. The best is yet to come! pic.twitter.com/IPpMBPGg5z
— Pepe Unchained (@pepe_unchained) July 14, 2024
An L2 for Ethereum, Pepe Unchained will deliver instant transactions and extremely low fees, providing greater utility and scalability than many existing layer-two networks.
This is largely why so many investors have been flocking to the presale for PEPU, which will serve as the currency for transaction fees, giving it a natural source of demand.
Bullish Tokenomics, Growing Presale
As a token, PEPU will have a max supply of 8 billion, with 30% of this going towards staking.
The project has allocated another 20% to the presale, 20% to marketing, 10% to liquidity, 10% for its team, and 10% for chain inventory.
This gives it a relatively high level of decentralization for a meme token, while the existence of a cap and of staking should help push its price over the long run.
What’s also promising is that, as a meme coin, Pepe Unchained has been steadily growing its community, with its X account now reaching over 7,000 followers.
This points to how big the coin could become once it lists and its layer-two network launches, an event which will happen once its presale closes.
Investors can join this presale by going to the official Pepe Unchained website, where they can buy PEPU at a price of $0.0084598 per token.
This price will rise fractionally with each new stage of the sale, so traders who are interested should probably buy sooner rather than later.
And based on its early popularity, PEPU could easily see a big surge once it lists on trading platforms in the next few weeks.
Buy PEPU Now
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