The meme coin market is back providing huge returns, and investors are betting big on Pepe Unchained ($PEPU).
It’s a new project positioned as the only Pepe-themed Ethereum layer 2 blockchain.
The project is undergoing a presale, where it has raised a whopping $15.5 million. Over $300K of that has come in the last 24 hours amid a meme coin sector resurgence.
Meme coin market cap adds $7 billion, analyst says $PEPU to 100x
Things can get exceptionally wild in the meme coin vertical, as evidenced today.
The sector’s total market cap has added over $7 billion on an 18% rally.
For something like Pepe Unchained, launching with a relatively low market cap, these liquidity inflows could translate to huge growth.
But it doesn’t stop there for $PEPU.
Among the top 100 cryptos, Pepe coin is leading the way with a whopping 19.6% gain.
As traders take profits on Pepe and look to deploy elsewhere, Pepe Unchained is well-positioned to attract new liquidity.
The meme coin market is on fire – and Pepe is leading the way. As such, analysts have high hopes for its new utility-rooted cousin, Pepe Unchained.
Umar Khan from 99Bitcoins said on Thursday that Pepe Unchained “Will 100x.”
“If you are interested in Pepe coin, here’s a project with 100x potential,” he said.
Similarly, ClayBro published a video hailing Pepe Unchained’s presale momentum and saying it is “closing in on major gains.”
But what’s all the hype about?
Pepe Chain: the Ethereum layer 2 network for joke tokens
Today’s two top-performing meme coins (Pepe and Shiba Inu) are both based on Ethereum.
This shows that Ethereum traders are extremely hungry for their own meme coin season, particularly after the explosion of Solana meme coins earlier in 2024.
However, the Ethereum network is not optimized for meme coins as well as Solana.
This is mainly due to its higher fees and slower speeds, which are caused by network congestion.
But in recent years, developers have worked around this through “layer 2s,” which are separate blockchains connected to Ethereum that compute the transactions off the main network.
These layer 2 networks offer faster and cheaper transactions, but users can still access them from their Ethereum wallet (unlike Solana, which requires a separate wallet).
But until now, most Ethereum meme coin activity has taken place on the main network.
That’s until Pepe Unchained – Ethereum’s new home of meme coins.
It promises speeds 100x faster and will be far cheaper than the Ethereum main network, meaning even the smallest of traders need not worry about high fees.
And since it focuses directly on meme coins, it opens a new world of potential use cases.
To expedite this, the Pepe Unchained team recently announced a forthcoming developer grant program, where they’ll pay people to build on the Pepe Chain.
The possibilities are limitless. Developers could launch their own meme coins or meme coin-related applications. For instance, they could create a meme coin-themed DeFi project or gaming application.
According to the team, the Pepe Chain will launch immediately after the presale ends. The chain will also have features like a dedicated Ethereum bridge, a staking mechanism, a block explorer, and a decentralized exchange.
Last chance to buy $PEPU at $0.00986 before price hike
The Pepe Unchained presale price is $0.00986, but this will rise throughout the campaign with the next increase in one day.
Investors will expect further gains once $PEPU launches on exchanges. These expectations have only heightened since the team recently revealed they’re in talks with tier-1 exchanges.
To stay current with the latest updates, follow Pepe Unchained on X or join its Telegram. Alternatively, visit its website to buy and stake tokens.