Pepe’s strength in the market is undeniable, as evidenced by his consistent weekly performance and recent rise in market capitalization to $4.5 billion.
This solidifies Pepe’s position as a dominant player in the meme coin space, with many Pepe-themed coins aiming to emulate its success.
One such candidate, Pepe Unchained, entered the pre-sale on the back of strong backing and a huge potential for big profits. As the presale gains momentum, this layer-2 blockchain is poised to set the memecoin market on the upswing, and investors are closely monitoring its trajectory.
Pepe (PEPE) price analysis
Pepe, the popular meme coin, has experienced a period of instability in recent weeks. The company’s market capitalization has increased significantly from $3 billion to about $4 billion, but recently it has faced a decline of 2.78%, making it worth $3.85 billion.
This puts the coin in 25th place among the approximately 10,000 cryptocurrencies listed on CoinMarketCap, a strong showing for a meme coin. Despite a 29% drop in volume, Pepe remains bullish, ranking 12th in overall volume performance.
Pepe’s performance has increased by 6% over the past week, with a strong three-day upward trend from October 4th to October 7th.
Despite some pullbacks due to Bitcoin’s broader impact on the market, Pepe’s long-term outlook remains promising, with many analysts optimistic about Bitcoin’s future trajectory.
Analyzing the macro perspective, we can observe a well-defined upward parallel channel characterized by significant support levels on the lower side and resistance levels on the upper side.
This channel was breached in July and continued into August, coinciding with the broader crypto market experiencing a significant decline.
Since then, a descending wedge pattern has emerged, usually suggesting a breakout to the upside, an encouraging sign of potential price movement. A breakout is currently underway, but action is still incomplete.
The major move is calculated by calculating the distance from the wedge’s low to high, and the target is set at $0.00001223. After experiencing a parabola of about 50%, a rebound was expected and a retracement of about 26% was observed.
The asset appears poised for a big rally towards previous highs, especially as shown by the positive trend of the 4-hour volume-weighted average true range (ATR) band.
However, caution is advised as it is likely to encounter resistance on the 12-hour chart as previous breakout attempts were rejected.
Considering this situation, Pepe’s short-term outlook remains bullish, with the possibility of completing the action move and achieving a value increase of around 25%.
If you’re looking for investment opportunities with the potential for big returns and value increases during the next bull market, check out our guide to the best crypto presales of 2024 here.
Pepe Unchained: 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 ease the creation of meme coins, Pepe Unchained promises lower transaction fees and faster processing times, similar to well-known layer 2 solutions such as Solana and Avalanche. If you are interested in purchasing $PEPU tokens, you can do so using ETH, USDT, or a credit card.
Additionally, you can also make purchases using BNB. However, if an acquisition occurs on Binance Smart Chain during the presale, investors will not be eligible to receive the 117% annual return from staking.
Therefore, if you want to take advantage of the benefits of staking, we recommend purchasing with Ethereum. The total amount of tokens staked has reached 1.3 billion, demonstrating strong interest in staking $PEPU tokens.
This brings Pepe Unchained’s total raised to $18.5 million.
The community is strong. Technology is strong. And we are breaking new ground every day. 💪 pic.twitter.com/kEzq8lVIge
— Pepe Unchained (@pepe_unchained) October 10, 2024
Pepe Unchained, currently in presale, has already raised an impressive $18.5 million. Experts expect huge growth potential, predicting returns for early investors of 20 to 50 times once the project is officially launched.
This presents an attractive opportunity for companies looking to enter the market before widespread adoption.
Investors should closely monitor Pepe’s progress in the coming weeks, as the asset continues to outperform expectations and perform well. To participate in the $PEPU token presale, please visit pepeunchained.com.
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