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Sam Cooling
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Sam Cooling
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Pepe crypto holders are flocking to a new layer-2 rival named Pepe Unchained, as PEPE price growth fuels optimism in the new PepeChain ecosystem build-out.
All eyes are flooding back to the top meme coins after weeks of sustained shitcoin-fever, with blue-chip meme coins such as Pepe dominating investor attention after impressive +27% growth over the past 30 days.
Yet, despite the recent show of strength, emerging underfoot concerns of a retracement down to a targeted accumulation zone – suggesting wavering support from Pepe token holders.
The spillover effect seems to be supercharging a new layer-2 rival called Pepe Unchained, which has amassed more than $2M in inflows to its skyrocketing presale this week ahead of a highly anticipated IDO.
PEPE Price Analysis: Further Upside Move on Short-Time Frame?
As Pepe tumbles from moving average support, it is currently trading at a market price of $0.0000097 (representing a 24-hour change of -3.57%).
Despite climbing +21% month-on-month in a recent show of strength, Pepe continues to struggle in the long-term, with a multi-month descent evident from sustained pressure underneath the descendant trendline.
Over the past week, hopes had been ignited that a golden-cross move between the 20DMA ($0.00001) and the 200DMA ($0.00000967) appears to be coming undone, as the past 24 hours have seen the price fail to break up; instead, falling into another worrying tumble.
All eyes are now on the 200DMA to see if the token can catch a local bounce as holders continue to hope for a re-test of the major overhead resistance zone.
Yet, with traders targeting the prize of another dip to the accumulation zone, things aren’t looking good on the short-time frame, especially as the RSI has failed to significantly cool off on the recent dip—only standing at a neutral 49.
To the upside, price action seems limited by the descendent trendline at $0.0000011 (a potential +13.29% move).
While to the downside, price action seems to target a major retest of the accumulation zone at $0.000007 (a potential -27.9% drop).
This leaves Pepe crypto bulls with a risk: reward ratio of 0.48 in the short time frame, a bad entry characterized by significant downside risk if the 200DMA is lost.
However, while the PEPE price might face an immediate downside, it’s not the only Pepe token drawing attention in the space, as a new layer-2 rival – Pepe Unchained – is stealing the spotlight with holders.
New Meme Coin Layer-2 Nears $22M Raised As Ecosystem Hype Grows
Meanwhile, stepping away from the multi-billion market cap Pepe token and looking at growing opportunities in the meme coin space, there is perhaps no more exciting opportunity this week than Pepe Unchained.
Seeking to address one of the most common complaints amongst meme coin traders – high gas fees – Pepe Unchained is on a mission to shift the legendary Pepe from its ERC-20 prison via the launch of a much-needed dedicated meme coin layer-2.
What does this mean? In a nutshell, Pepe Unchained will deliver faster transactions at a lower cost, enabling a highly scalable playground for the best meme coin developers in the crypto space.
But this is so much more than a new layer-2 piggy-backing on Ethereum; it is about developing a new hive for meme coin activity, and that requires ecosystem growth.
Luckily for us, the OG developers working on the Pepe Unchained project are keenly aware of that.
As such they’re already planning a whole suite of ecosystem development tools, including block explorers to enable research, super low-cost cross-chain bridges to draw in meme coin traders from across the industry, and perhaps most exciting a new developers grant fund.
Yup, you heard that right! With Frens With Benefits, Pepe Unchained will be funding some of the most legendary developers in the space to buidl on the latest and greatest layer-2 solution – so expect big things to come.
Better yet? You can claim your slice of the pie and profit from this huge new venture.
Gone are the days of venture capital—Pepe Unchained is here for the people.
The experienced development team (which boasts more than 100 years of combined blockchain development XP) is bootstrapping this project with crowdfunding via the $PEPU presale.
And this winning recipe is already a viral success! Pepe Unchained’s presale smashed a jaw-dropping near $22M in funding this week, as eagle-eyed investors across the space target $PEPU as one of the hottest launches of 2024 – a far more exciting proposition than PEPE.
So don’t miss out on this incredible opportunity, next time you hear about Pepe Unchained, you will probably be trading on it (and regreting ignore this news!).
To stay current – engage with the Pepe Unchained community on X and Telegram.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
