Pepe (PEPE) is back making headlines again.
The popular frog-themed coin has rallied 12% since yesterday, grabbing the attention of meme coin traders.
The big question now is whether PEPE represents a smart investment for the upcoming bull run.
PEPE Coin Rallies as Spot Trading Volumes Surge to $792M
PEPE is having a great week so far.
After dropping to a low of $0.0000070 yesterday, it’s bounced back to $0.0000079 – pretty much where it was last Saturday.
But this time, there’s real momentum behind PEPE as it nears a key resistance level that hasn’t been breached since late August.
Traders are buzzing about this rally.
Spot volumes have surged 58% to hit $792 million, making PEPE the most traded meme coin in the world.
Its market cap has climbed back over $3.3 billion, making it the 26th largest crypto.
And it’s not just volumes and market cap that are heating up.
Open interest has risen 16% to $46.9 million, marking a surge in futures trading action.
In the past day alone, almost $700,000 in short positions have also been liquidated.
That means a lot of traders have bet against PEPE and got caught out.
These factors suggest PEPE is back – and in a big way.
Is PEPE a Good Buy for the Next Bull Run?
So, is PEPE a good pick for the next bull run?
It’s always a bit of a guessing game with crypto, but let’s take a closer look.
Investors are buzzing about a new bull run that could be about to kick off.
The market started rallying around this time last year – and many believe history will repeat itself this year.
And if you’re considering PEPE, here’s what you need to know.
The token needs to break through the $0.0000080 resistance level, and if it does, a potential first target could be August’s high of $0.0000098.
That would be a 22% jump from where we are right now.
However, PEPE must also get past the 50-day EMA, which is just above its current price.
If it clears both hurdles and momentum continues, the next upside target might be around the wicks at $0.0000112.
That would put PEPE back at the same price it was in mid-July.
Crucially, the 4-hour RSI is sitting at just 64, so PEPE isn’t in overbought territory just yet.
Overall, the signs look promising for this frog coin – meaning it could be one to consider for the next bull run.
New Meme Coin Pepe Unchained Might Also be a Buy Thanks to Layer-2 Ambitions
But PEPE isn’t the only frog-themed meme coin getting attention.
Enter Pepe Unchained (PEPU) – a new project that has recently caught investors’ attention.
And not just because of its hilarious name.
Pepe Unchained is bringing some never-before-seen features to the table.
The team is launching a Layer-2 blockchain called “Pepe Chain,” which will allow faster and cheaper transactions than Ethereum.
Think of it like an express lane for crypto trading.
The team is also introducing instant bridging and a “double staking” app.
This latter feature has prompted huge buzz since PEPU holders can lock up their tokens and generate annual yields of 149%.
Pepe Unchained’s presale has been on a tear since it kicked off.
It’s raised almost $14 million in funding by allowing investors to buy PEPU tokens before they hit the open market.
Not only that, but the presale also offers these tokens at a discount.
The big question now is: Can Pepe Unchained be a good pick for the next bull run?
It certainly has potential.
As a meme coin, Pepe Unchained will likely benefit from the bullish conditions that are aiding PEPE right now.
Plus, since it has genuine utility, investors have more reason to hold PEPU long-term rather than sell after a price spike.
And Pepe Unchained is even beginning to generate traction on Twitter.
These factors position PEPU as a meme coin that might be a good buy if a crypto bull run begins before the end of 2024.
