Meme coins are going through a rough patch, with most tokens in the red over the past seven days.
But new project Pepe Unchained (PEPU) is defying the trend.
It has now raised over $12 million in its ICO phase – and even attracted attention from crypto whale investors.
Meme Coin Market Struggles While Pepe Unchained’s Presale Passes $12M
Let’s take a closer look at the current state of the meme coin market.
It’s been a challenging period for these coins, with most down significantly since this time last week.
Spot volumes have also taken a hit – dropping to $3.2 billion since yesterday.
Fears surrounding the US economy have spread to the crypto market, and meme coins are feeling the brunt of the impact.
However, it’s not all bad.
Some coins are still performing well, most notably Pepe Unchained.
Its ICO has been on fire, passing the $12 million milestone earlier today and raising tens of thousands of dollars every hour.
That’s no small achievement, especially in this market environment.
And some big players are taking notice.
In just the past 48 hours, the project has pulled in two crypto whale buys totaling over $80,000.
One of those whales invested an enormous $56,000 worth of ETH.
These large buys show that, even in a bearish market, there’s still a strong belief in Pepe Unchained’s potential.
Crypto Whales Back Pepe Unchained for Its Layer-2 Tech
But why are these crypto whales so excited about Pepe Unchained?
It’s because the project has some serious tech under its green exterior.
Pepe Unchained’s core feature is its very own Layer-2 blockchain, called the “Pepe Chain.”
The development team claims it will run up to 100 times faster than Ethereum.
That means quicker transactions, lower fees, and none of the network congestion that can turn trading experiences into a nightmare.
Yet speed isn’t the only thing Pepe Chain has going for it.
The developers are also rolling out a “double staking” protocol that’s grabbing investors’ attention.
This protocol offers yields of 168% per year.
Over 951 million PEPU tokens have already been staked during the ICO – a clear sign that investors are confident about Pepe Unchained’s prospects.
And then there’s the meme factor.
Pepe Unchained fully embraces the Pepe the Frog theme, complete with “Giga brain” Pepe artwork.
It’s an aesthetic that seems to be boosting the hype around the project.
Could Pepe Unchained Shake Up the Meme Coin Market with New Blockchain?
The Layer-2 space in 2024 is more competitive than ever, with networks like Arbitrum, Optimism, and Base dominating.
Newcomers like Blast and Linea have also gained traction.
All of these networks are focused on improving speeds, lowering costs, and improving the user experience.
Pepe Unchained is putting its own spin on that approach.
Rather than trying to cater to all tokens, it focuses specifically on meme coins.
It’s as if the developers have taken a look at the crypto market and decided that meme coins deserve a platform of their own.
This strategy could give Pepe Unchained an edge.
Meme coins often experience rapid price movements and spikes in trading volume, and a network designed to accommodate these traits could be priceless.
Plus, with features like double staking, Pepe Unchained’s team offers more reasons to use their network.
There’s nothing else like it in the Layer-2 space right now.
And in a market where differentiation is essential, Pepe Unchained is doing its best to stand out.
All in all, the future looks bright for this new project.
If the developers can deliver their promised roadmap, there’s a good chance Pepe Unchained could become the go-to platform for meme coins.
