Forget the old Pepe (PEPE) coin – a new frog-themed token is going viral.
Pepe Unchained (PEPU) is performing well in presale and has already raised over $8.8 million.
And now everyone’s wondering: could this newcomer hit the $1 mark before PEPE does?
PEPE Faces Decline as Investors Worry About More Downside
PEPE has been going through a rough patch lately.
It’s currently trading at $0.0000079, a far cry from where it was in mid-July.
Since its local high last Friday, PEPE has taken a 12% tumble, leaving investors worried about the future.
If you look at the charts, things aren’t looking too hot either.
PEPE has been creating a descending channel on the 4-hour chart, and its Relative Strength Index (RSI) is hovering around 43.
That means there’s still room to fall further before hitting oversold territory.
To add insult to injury, trading volumes have evaporated.
The daily chart also paints a grim picture of lower highs and lower lows – the kind of pattern that suggests more downside is on the cards.
Overall, things aren’t looking too good for PEPE right now.
The question is – can it bounce back, or is it time for a new coin to take center stage?
Pepe Unchained Aims to Disrupt Meme Coin Space with New Layer-2 Chain
Now, let’s focus on Pepe Unchained, the new meme coin that’s going viral in presale.
Unlike its peers, Pepe Unchained isn’t content with being on an existing chain.
Instead, the team plans to build a brand-new Layer-2 chain on Ethereum.
Imagine the Ethereum blockchain, but supercharged and way more efficient.
We’re talking rapid transactions and fees that are a fraction of a cent.
But what does that mean for meme coin traders?
Say you’re eyeing up a new meme coin that’s just launched and wish to get involved before it hits the mainstream.
With Pepe Unchained’s Layer-2, you could swap your PEPU tokens for the new coin in seconds, not minutes.
No more watching helplessly as your transaction is waiting to go through.
You could also trade the new coin multiple times in quick succession without paying exorbitant gas fees.
However, it’s not just about faster trades and lower fees.
Pepe Unchained’s Layer-2 could also pave the way for a new batch of dApps that aren’t currently possible on Ethereum due to slow speeds.
Think next-gen crypto games, DeFi protocols, and even NFT collections.
Could Pepe Unchained Reach $1 Before PEPE Does?
So, could Pepe Unchained actually beat PEPE to the dollar mark?
Let’s do some quick math and find out.
Right now, Pepe Unchained’s presale is on fire, having already raised $8.8 million.
Tokens are currently going for $0.0090901 each.
With a total supply capped at 8 billion tokens, Pepe Unchained has a long way to go to hit $1 – a 10,900% increase, to be exact.
That’s a big ask, even in the illogical world of meme coins.
However, compared to PEPE, which would need to rocket over 12.5 million percent to reach $1, Pepe Unchained’s journey doesn’t seem so far-fetched.
PEPE can’t hit $1 while its supply is so high.
The only way for the token to reach that milestone would be if the team implemented some serious tokenomics changes.
We’re talking massive burns – like 50% of the supply (or more).
But for Pepe Unchained, moves like that wouldn’t be necessary.
Plus, the project already has a strong foundation with DEX listings planned for after the presale and two audits already completed (Coinsult and SolidProof).
Ultimately, it’s anyone’s guess whether PEPU will hit $1 before PEPE.
Yet, there’s every chance PEPU can still produce enormous gains for early investors.