Looks like the meme coin market is rebounding.
Pepe (PEPE), the OG frog coin, is up 10% in the past 24 hours.
Meanwhile, a new project called Pepe Unchained (PEPU) is creating a buzz, having raised over $9.5 million in its ongoing ICO.
PEPE Rallies 10% as Retail Traders Jump Back In
PEPE has staged a comeback, climbing to $0.0000081 after dipping as low as $0.0000071 yesterday morning.
This 10% rally has brought the coin roughly back to where it was last Wednesday.
However, PEPE is now approaching minor resistance at $0.0000084.
And it’s still well below its 50-day exponential moving average (EMA), indicating that the medium-term trend is still bearish.
Despite this, trading activity has surged.
Spot volumes are up 63% since yesterday to $713 million, making PEPE the most traded meme coin – even outpacing Dogecoin (DOGE).
Open interest has also jumped 29% to $55 million.
These metrics suggest that speculative trading is ramping up once more.
Although PEPE isn’t out of the woods yet, traders seem to be piling back in, hoping for further gains.
As such, the coming days will be crucial in determining if PEPE can sustain this bounce – or whether it’s just a temporary reprieve.
Pepe Unchained ICO Nears $10M as Staking Rewards Drive Demand
A new meme coin is also doing well this week.
Pepe Unchained has just hit $9.5 million in its ICO, with the $10 million milestone now within reach.
This surge in demand is mainly due to the discounted PEPU tokens on offer at $0.009163 each.
Investors are jumping at the chance to grab these tokens at pre-market prices.
However, what’s really getting attention is how investors can stake their PEPU immediately, even as the ICO continues.
With staking yields sitting at 207% per year, it’s no wonder early adopters are piling in to earn rewards before PEPU’s official launch.
While the developers are keeping their cards close to their chest, they’ve hinted at plans for a DEX launch once the ICO concludes.
Pepe Unchained’s Telegram community is already buzzing about this launch.
Many believe that the momentum in the ICO will translate into a post-listing pump for PEPU.
Crypto guru ClayBro even predicted PEPU is “set to soar up to 100x.”
So, all eyes are on Pepe Unchained to see if it can live up to the growing hype.
New Layer-2 Solution for Meme Coins – Pepe Unchained’s Ambitious Aims
Pepe Unchained isn’t just a random meme coin.
It’s positioning itself as something different by developing a new Layer-2 solution for Ethereum, specifically tailored to meme coins.
The “Pepe Chain” promises transaction speeds up to 100 times faster than Ethereum’s.
These speeds could revolutionize how meme coins operate.
Pepe Chain will also have its own dedicated block explorer and offer instant bridging back to Ethereum, making the user experience as straightforward as possible.
And these features might pave the way for some exciting new developments.
For example, developers could build a specialized DEX exclusively for trading meme coins.
Pepe Unchained’s credibility is boosted by dual audits from Coinsult and SolidProof, which found no issues.
The developers have also laid out a clear tokenomics setup, with allocations for marketing, liquidity, staking rewards, and more.
Most meme coin creators are in it for a quick buck, but Pepe Unchained’s team seems keen to build a long-lasting ecosystem.
Overall, the future looks bright for this Layer-2 project.
With the meme coin market rebounding and its ICO passing $9.5 million, Pepe Unchained looks like it could be an interesting meme to watch.
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