Pepe (PEPE) is still on traders’ radars despite the 6% dip from its weekly high.
As the coin’s momentum slows, some are wondering if PEPE is even worth holding anymore.
Meanwhile, the new meme project Pepe Unchained (PEPU) has got people talking – and some early backers believe it could be a better investment than the OG frog coin.
Is PEPE’s Price Dip the End of the Rally or Just a Temporary Setback?
PEPE is now trading around $0.0000103.
That’s a sizable drop from Tuesday’s local high, but crucially, it’s still above the $0.000010 support level.
PEPE has mostly trended down in the past few days, cooling off after Monday’s big rally.
But it’s not all bad news.
With $890 million in trading volume over the past day, PEPE is still the second most traded meme coin.
It’s also held onto more gains than some of its popular peers, like WIF and POPCAT.
Interestingly, open interest has also increased slightly in the past two days.
This could mean traders are positioning for another move up.
It’s hard to say, but given the market structure, this dip might be temporary.
Plus, since PEPE is known for its volatility, a sudden rebound wouldn’t be surprising.
It’s a typical part of the PEPE trading experience.
Analyzing PEPE’s Market Position – Should Investors Buy the Dip?
So, is it time to invest in PEPE after this latest dip?
Let’s break it down.
The meme coin sector is still hot, with most top coins posting gains in the past day.
Overall spot volumes are up 6%, and Bitcoin is approaching $68,000 again.
These are bullish signs for the crypto market in general.
Looking at PEPE specifically, the token is showing some resilience.
On the 4-hour chart, it dipped below the 50-period EMA but bounced back fast, which is a positive sign.
Plus, it’s still in a clear uptrend on the same timeframe.
For those interested in chart patterns, PEPE is in the middle of an ascending channel right now.
Based on this channel, the next upside target could be around $0.0000115.
That’s an 11% jump from where PEPE is right now.
Of course, when it comes to PEPE, what makes sense on paper doesn’t always translate into reality.
But given the current conditions, there might be a buying opportunity for risk-tolerant investors.
Pepe Unchained Passes $20M in Presale & Presents Utility-Driven Alternative to PEPE
Alongside PEPE, there’s another frog coin getting attention – Pepe Unchained.
However, it’s not just a copycat. The big difference between the two coins is utility.
For all its popularity, PEPE is still just a meme token with no use case.
Pepe Unchained, on the other hand, is aiming much higher.
Its core feature is a new Layer-2 blockchain called “Pepe Chain,” designed just for meme coin traders.
It promises faster and cheaper transactions than Ethereum, which is excellent news for regular buyers and sellers.
Pepe Unchained’s team is also thinking about the long term.
They’ve launched a developer grant program to expand their ecosystem and debuted a “double staking” app for PEPU holders.
Right now, those who stake in this app can obtain APYs of 109%.
Pepe Unchained’s presale numbers are backing up the hype, having raised over $20.4 million in funding.
That shows the level of faith from investors – before PEPU has even launched.
Top crypto analyst Zach Humphries, who has over 150,000 YouTube subscribers, released a video discussing the token.
He’s highly bullish, thinking PEPU could rally after it hits exchanges.
So, is Pepe Unchained a better investment than PEPE?
For those just seeking “degen” vibes, PEPE might be a better fit.
But for investors looking for a meme coin with genuine utility and a shot at long-term success, Pepe Unchained could be worth checking out.
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The post Pepe Price Outlook: Where is PEPE Headed as It Dips 6% and How Does it Compare to Pepe Unchained? appeared first on CryptoPotato.
