Meme coins, led by favorites like Pepe (PEPE), have become the must-trade category in the 2024 market.
Notably, in the first half, they outperformed the entire financial market with an average return of +1,834% for investors.
But now, a new competitor is gaining traction among crypto whales – Pepe Unchained (PEPU)
$PEPE ATH next week is programmed. pic.twitter.com/Lk5louvlzP
— Plazma (@Plazma0x) June 26, 2024
But, with the crypto market on the ice this week, how will the PEPE price shape in the weeks ahead? Let’s dig in.
PEPE Price Analysis: Is Now Still The Best Time to Buy?
As Pepe fights to stay afloat under suppressive moving average resistance, the coin is currently trading at a market price of $0.00001035 (representing a 24-hour change of -8.3%).
This comes amid an impressive, ongoing defense by holders, with the price seemingly caught between a rock and a hard place at present.
To the upside, the suppressive resistance of a down-trending 20DMA (now at $0.00001155) has prevented any meaningful price growth for 26 days since June 7.
Meanwhile, a rock-solid support layer has been continually defended around $0.00001 – suggesting a potential accumulation zone underpinning the volatility.
In a further bullish signal, the RSI indicator has shifted to an attractive 40, suggesting consolidation may well shift into a bounce in the near-time frame.
This leaves Pepe in seemingly bullish poise. Bulls are currently targeting a push above the 20DMA to $0.00001150 (a potential +10.25% gain).
While downside risk could see the price hammer back down into accumulation at $0.00000970 (a possible -7% loss).
Therefore, pepe has a risk: reward of 1.47 in the short term, suggesting a reasonable entry but mediocre gains.
However, it’s also worth considering whether the meme coin can truly supercharge your portfolio in 2024—after all, it already has an almighty $4,374,788,666 market cap.
This implies that for a simple 10x return in 2024, PEPE would need to see a capital influx of $39,373,097,994—that’s more than Cyprus’s GDP.
It’s no wonder that the lion’s share of fresh capital is flowing into Pepe beta plays (meaning Pepe-themed tokens that sit at lower market caps and will likely track and outperform PEPE’s price growth).
Discover a Hidden Gem: The Viral New Meme Coin Presale
Already standing strong at a jaw-dropping $2,115,052 raised, this viral beta play is all the more impressive considering the team only launched the PEPU presale a week or so ago.
However, this is no ordinary spinoff token; in fact, Pepe Unchained could be the exact revolution that PEPE needs in the 2024 market environment.
At the heart of this is the fact that Pepe is an ERC-20 token, a token standard and chain that is not only increasingly unpopular but also slow and expensive.
Other top-shelf meme coins, such as Shiba Inu, have had a dynamic response to these scalability challenges surrounding Ethereum, with Shiba Inu developer Shytoshi deploying a layer-2 scaling solution named Shibarium last year.
$2M raised in record time!
Pepe’s blockchain is on fire. Thank you for the incredible support! Get ready for even more exciting developments pic.twitter.com/yQcveiQO1X
— Pepe Unchained (@pepe_unchained) July 2, 2024
Yet, the same cannot be said of Pepe, which has been slow to respond to challenges, which has led to Pepe Unchained’s creation.
Positioned as a community-fuelled Layer-2 solution; you can look at PEPU as Pepe 2.0.
And amid fever for high-speed, low-cost meme coin trading on the latest and greatest Layer-2 blockchains like BASE and BLAST, there is clear unhinged growth potential for this $2.1M market cap project.
Indeed, the $23M needed for PEPU to produce a 10x is just a raindrop in the ocean of the $39,373,097,994 that PEPE would require to produce the same returns.
So don’t miss out – engage with the Pepe Unchained community on X and Telegram.
Buy PEPU Here
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