The meme coin market is continuing its surge today, defying naysayers who thought this week’s bullish price action was only a temporary bounce.
All of the top 10 meme coins by market cap are up over the last 24 hours, with gains led by Popcat. The Solana-based meme coin is up 19% in the past day alone.
The surge in the meme coin market is also helping a new project, Pepe Unchained, which is building an Ethereum Layer-2 network specifically for meme coins. The project’s ICO just blew past $13 million and is selling out fast.
Popcat Pushes to New All-time High as Bullish Trendline Forms
Popcat’s explosive 19% gain today to $0.65 not only led the market—it blew other meme coins away. The next best-performing token today is $BRETT, which is up just 8.3%.
Even more impressive than the move in $POPCAT’s price is the volume behind it. More than $176 million worth of $POPCAT has traded hands in the past 24 hours, compared to just $36 million at the end of last week.
There isn’t a clear catalyst behind the move, although the meme coin market as a whole has been surging since Monday. However, technical analysis of the $POPCAT price chart shows that today’s explosive move fits into a broader bullish pattern.
Looking at the 4-hour chart, $POPCAT has developed a strong bullish trendline that it seems to test at the bottom of each mini-cycle. This week’s surge comes after $POPCAT once again touched that trendline, with the bottom rising higher each time.
The rising bottom suggests that, unless there’s a significant break in the trend, $POPCAT’s price could continue to cycle higher until it pushes to a new all-time high. Whether it can do that in this upward cycle remains to be seen, but based on our analysis we predict a break above $1 sometime in late October.
Crypto analyst @Manofbitcoin confirms our analysis using Elliott Wave theory. From this perspective, $POPCAT’s surge is the beginning of wave 3, out of 5 total bullish waves. @Manofbitcoin predicted that $POPCAT could break above $0.80 before making a higher move over $1.
It seems more likely that this breakout could develop if the rest of the meme coin market continues to post gains. Analysts expect a massively bullish Q4 for crypto, lending further support to predictions of $1 or more for $POPCAT before the end of the year.
Pepe Unchained Benefits from Meme Coin Market Growth, Tops $13M in ICO
One of the biggest beneficiaries of the bullish trend in the meme coin market is Pepe Unchained, a new Ethereum Layer-2 network built to be the next hub for meme coin trading.
Pepe Unchained features the ultra-popular Pepe meme—$PEPE itself is up 4% today in a show of strength for this meme—and plans to launch the next hot blockchain for meme coin traders and investors. Analysts think it has the potential to edge out Solana and Base to become the center of gravity for the next meme coin frenzy.
What makes Pepe Unchained unique is that it’s 100x faster than Ethereum and offers its own decentralized exchange. That makes it perfect for traders who need quick access to all the hottest meme coins and nearly instant trade executions.
Plus, Pepe Unchained is expected to charge transaction fees that are a fraction of those charged on the Ethereum mainnet. That’s a big deal for traders who rely on razor-thin margins to turn a profit.
Transactions on Pepe Unchained will require the project’s native $PEPU meme coin, which is available to buy on presale now at a discounted price of only $0.009651. During the presale, investors can stake their $PEPU to earn 158% APY rewards.
The project has raised $13 million from $PEPU sales, making it one of the most successful meme coin ICOs of 2024 already.
In fact, crypto analysts are bullish on the potential of $PEPU as both a utility token for Pepe Unchained and as a meme coin in its own right. Prominent meme coin analyst ClayBro told followers to ‘prepare for major gains’ as the $PEPU launch approaches.
The next price increase in the Pepe Unchained presale is less than a day away. Don’t miss this chance to lock in $PEPU tokens and be ready to start trading meme coins when this exciting new Layer-2 launches.
