Pepe, the popular meme coin, has experienced a significant surge, rallying an impressive 43% in just a week.
This strong performance has not only brought renewed attention to Pepe itself but also to other meme coins with a Pepe theme.
A prime example is Pepe Unchained, which has already raised a staggering $4.5 million during its presale, underscoring the potential of Pepe-inspired projects within the meme coin market.
Pepe’s (PEPE) price has surged by an astounding 43% within a week, marking a significant breakout in the market. This surge is evident in the Pepe chart, which showcases a substantial breakout scenario.
Despite not having reached the pinnacle point of the high of $0.00001324, there is a strong indication that further upside potential exists for Pepe. If this upward momentum continues, the breakout scenario could come to fruition once again, presenting a promising opportunity for investors.
Currently, investors are already long on Pepe, having hit multiple take profits with stop losses positioned at the entry point, ensuring a secure position in the market.
Looking at the past day’s price movement, a channel starts to form where the price keeps bouncing between two trend lines. This often suggests the trend will continue upwards, as long as the price doesn’t fall sharply below the lower line.
There’s a chance for a small dip in price if Pepe falls below the trend line seen on the last hour’s chart. This dip might bring the price down to around $0.00001135. But even if that happens, it likely wouldn’t be a major setback. The overall sentiment for Pepe is still positive.
Examining the weekly price chart, we see Pepe’s current price hovering between its bear market low of $0.0000005817 and its recent peak of $0.0000169.
Interestingly, the 0.236 Fibonacci extension suggests a potential 3x increase in value, which would translate to a market cap of around $15 billion, putting Pepe closer to Dogecoin’s territory.
Pepe’s current market cap sits at $5 billion, already challenging established meme coin giants like Shiba Inu (SHIB) and Dogecoin (DOGE). Toppling Shiba Inu with its $10 billion market cap, Pepe (PEPE) would only need to double its current valuation.
However, Dogecoin (DOGE), boasting a $19 billion market cap, presents a more significant hurdle. To reach the coveted top 10 cryptocurrencies, Pepe would need to experience a fourfold increase in market capitalization.
Since Pepe seems undervalued and the market is looking good overall, this price target seems realistic, keeping the positive outlook strong. For those seeking alternative investments, check out our 2024 guide to the best meme coins to buy.
Following Pepe’s recent price increase, a new project called Pepe Unchained is catching attention in the crypto world. Investors are optimistic about its potential, with many considering it one of the top meme coins to buy at the moment.
Pepe Unchained’s presale is on fire, pulling in an impressive $150,000 daily on average. This strong momentum is reflected in the $4.5 million already raised, showcasing sustained investor interest.
Great Saturday news! We've raised $4.5M!
Pepe Unchained is breaking barriers and making waves 🐸⛓️ pic.twitter.com/3hK6JyGOy4
— Pepe Unchained (@pepe_unchained) July 20, 2024
The project offers a wide range of purchase options including Ethereum (ETH), Tether (USDT), credit cards, and Binance Smart Chain (BNB), making it accessible to a broad audience.
However, be aware that purchases made with BNB during the presale are not eligible for the 414% annual staking rewards. Therefore, if you plan to stake your tokens, it’s recommended to purchase them using Ethereum (ETH) instead.
Fueled by an active and positive community, projects like Pepe Unchained that raise significant funds through presales and maintain strong social engagement often experience long-term success.
This success is especially true when supported by favorable market conditions and extensive media coverage from various crypto news outlets. This bodes well for Pepe Unchained’s future potential.
Pepe Unchained is a layer 2 blockchain protocol built on Ethereum, similar to the Base chain but with distinctive Pepe branding.
This project aims to bridge Ethereum and Pepe, offering the lowest transaction fees on the network and a 100x faster transaction speed compared to Ethereum. One of the standout features of Pepe Unchained is its dedicated block explorer, specifically for Pepe.
The project’s goal is to host meme launches and meme coins on its blockchain, creating a vibrant ecosystem for meme-based assets.
Considering Pepe’s strong association with memes, this project has the potential to succeed by leveraging the iconic status of Pepe in the meme world. To take part in the $PEPU token presale, visit pepeunchained.com.
As leading cryptocurrencies hint at a potential bull run, Pepe emerges as a contender for reaching an all-time high and even potentially becoming the dominant meme coin.
While this objective remains ambitious, Pepe Unchained, a recently launched Pepe-themed meme coin, has garnered significant investor interest during its presale, exceeding $4.5 million.
Notably, Pepe Unchained differentiates itself by prioritizing utility, a characteristic absent from most Pepe-themed coins, including the original Pepe token.
This focus on utility positions Pepe Unchained as a potentially significant player with the capacity to compete with established meme coins like Pepe.
If you’re interested in the absolute best initial coin offerings (ICOs) of 2024, explore our comprehensive guide featuring the most promising options.
The post Can Pepe Achieve a 3X Surge to $15 Billion Market Cap Amid the New Pepe-Themed Presale Frenzy? appeared first on ReadWrite.
