The crypto market is seeing green today.
Pepe (PEPE), the world’s third-largest meme coin by market cap, has jumped over 10% since yesterday.
Newcomer Pepe Unchained (PEPU) is also performing well – with its ICO nearing the $700,000 milestone in just one week.
PEPE Coin Surges – The Start of a New Rally?
PEPE’s been on a wild ride, and today was no exception.
The popular meme coin has soared to $0.0000119 – its highest value since last Thursday.
This rally came after PEPE tapped the $0.000010 level and rejected it.
And here’s where it gets interesting – PEPE has now dethroned Dogecoin (DOGE) as the most traded meme coin globally.
That’s right, PEPE has seen more spot volume than DOGE in the past 24 hours.
So, what’s next for the frog-themed token?
If PEPE keeps up this momentum, it might make a push towards $0.0000135.
That’s the level it tried (and failed) to breach almost two weeks ago.
Of course, for meme coins like PEPE, things can shift in an instant.
But for now, momentum is on PEPE’s side, and investors are eager to see how far it can rally.
Meme Coins Explode as Bullish Momentum Returns
It’s not just PEPE performing well – the entire meme coin market is bullish.
The total market cap of all joke tokens has bounced up over 7%, now sitting at $47.5 billion.
And if that’s not enough to turn heads, spot trading volumes have increased 18%, with a whopping $5 billion changing hands in the past 24 hours.
The OGs aren’t missing out on the fun, either.
Both DOGE and SHIB have surged by 4%.
But it’s the newer meme coins that are showing off.
WIF’s value has jumped 13%, while BRETT – the biggest meme coin on Base – has surged 20%.
Surprisingly, there’s no specific catalyst for why meme coins have flipped bullish in the past day.
Instead, it looks like Bitcoin’s rebound is the culprit, creating a risk-on atmosphere that’s got retail investors piling back into the market.
Combine that with Donald Trump’s potential appearance at the Bitcoin convention next month, and you’ve got a recipe for FOMO that’s driving speculative buying across the board.
Pepe Unchained ICO Gathers Pace as Investors Buzz About Layer-2 Solution
While established meme coins are having a moment, a new player is also drawing praise.
Pepe Unchained is making its mark on the meme coin space, and not just because of its Pepe-style mascot.
What sets Pepe Unchained apart is its ambitious plan to launch its own layer-2 blockchain.
This isn’t just another meme coin hosted on Ethereum – it aims to actively solve the chain’s problems.
Using layer-2 tech, Pepe Unchained promises faster (and cheaper) transactions than those on Ethereum’s mainnet.
The numbers are impressive.
According to Pepe Unchained’s whitepaper, the network will be 100 times faster than Ethereum and potentially process transactions in milliseconds.
And those sky-high fees that have plagued meme coin traders?
Pepe Unchained aims to make them a thing of the past.
But it’s not all about speed and savings.
PEPU holders can also stake their tokens, with estimated annual yields currently quoted at 3,030%.
Investors are buzzing about this layer-2/staking hybrid.
Pepe Unchained’s ICO phase is nearing the $700,000 milestone in just one week, with PEPU tokens on offer for $0.008064 each.
Investors can buy PEPU using ETH, USDT, BNB, or a credit/debit card.
All in all, with Pepe Unchained growing in stature and the meme coin space heating up again, it’s clear the market’s thirst for these quirky tokens is far from gone.
