Pepe’s market strength is undeniable, as evidenced by its consistent weekly performance and a recent surge in market cap to $4.5 billion.
This solidifies Pepe’s position as a dominant player in the meme coin sector, where numerous Pepe-themed coins aspire to emulate its success.
One such contender, Pepe Unchained, has entered presale with strong backing and significant potential for substantial returns. As its presale gains momentum, this Layer 2 blockchain is poised to set the meme coin market up for a rally, with investors closely monitoring its trajectory.
Pepe (PEPE) price analysis
Pepe, a popular meme coin, has experienced a volatile period in recent weeks. While its market capitalization has grown significantly from $3 billion to around $4 billion, it has faced a recent decline of 2.78%, bringing its value to $3.85 billion.
This places the coin 25th out of nearly 10,000 cryptocurrencies listed on CoinMarketCap, a strong showing for a meme coin. Despite a 29% drop in trading volume, Pepe remains bullish, ranking 12th in terms of overall volume performance.
Pepe’s performance has increased by 6% in the past week, and the trend shows a strong three-day upward momentum from October 4th to 7th.
Although there was a slight pullback due to Bitcoin’s broader market influence, the long-term outlook for Pepe remains promising, with many analysts optimistic about the coin’s future trajectory.
Analyzing the macro perspective, one can observe a well-defined upward-sloping parallel channel, characterized by significant support levels on the lower side and resistance levels on the upper side.
This channel was breached back in July, leading into August, which was consistent with the broader cryptocurrency market experiencing a substantial pullback.
Since then, a falling wedge pattern has emerged, which typically suggests a breakout to the upside—an encouraging indication of potential price movement. Currently, a breakout is underway, although the measure move remains incomplete.
The measure move is calculated by taking the distance from the low of the wedge to its high, with the target set at $0.00001223. After experiencing a parabolic run of approximately 50%, a pullback was expected, and a retracement of around 26% has been observed.
The asset appears poised for a significant upward move towards the previous high, especially as indicated by the 4-hour volume-weighted average true range (ATR) band, which is trending positively.
However, caution is warranted, as there is a strong likelihood of encountering resistance on the 12-hour chart, where previous attempts to break through have met with rejection.
Given this context, the short-term outlook for Pepe remains bullish, with the potential to complete the measure move and achieve an approximate 25% increase in value.
If you’re looking for investment opportunities that could offer big returns and increase in value during the next bull run, check out our guide here for the best crypto presales of 2024.
Pepe Unchained: A layer 2 blockchain with huge potential
In addition to the core Pepe token, the Pepe ecosystem is set to expand with the upcoming launch of Pepe Unchained, a Layer 2 blockchain built on Ethereum.
Designed to facilitate the creation of meme coins, Pepe Unchained promises lower transaction fees and faster processing times, similar to renowned layer 2 solutions like Solana and Avalanche. For those interested in purchasing $PEPU tokens, they can be bought using ETH, USDT, or credit cards.
Additionally, purchases can also be made with BNB; however, if the acquisition occurs on Binance Smart Chain during the presale, investors will not be eligible for the 117% annual returns from staking.
Therefore, it is recommended to buy on Ethereum if you wish to take advantage of staking benefits. The total amount of tokens staked has reached 1.3 billion, indicating a strong interest in staking the $PEPU token.
And with that, Pepe Unchained reaches $18.5M raised.
The community is STRONG. The tech is STRONG. And we’re gaining new ground everyday. 💪 pic.twitter.com/kEzq8lVIge
— Pepe Unchained (@pepe_unchained) October 10, 2024
Currently in its presale phase, Pepe Unchained has already raised an impressive $18.5 million. Experts anticipate substantial growth potential, projecting returns of 20x to 50x for early investors once the project officially launches.
This presents a compelling opportunity for those looking to enter the market before widespread adoption occurs.
Investors should closely monitor Pepe’s progress in the coming weeks, as the asset continues to exceed expectations and demonstrate strong performance. To participate in the $PEPU token presale, go to pepeunchained.com.
- Pepe Unchained Layer 2 ICO Soars Past $18 Million – Best Meme Coin to Invest In?
- Trader Predicts This Pepe Unchained Layer 2 Meme Coin Could Be the Next 10x PEPE
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