Pepe is down 22% in a week, while new memecoin Pepe Unchained raises $2.5m in presale amid bullish analyst forecasts

The memecoin market has taken a beating this week, and Pepe is worse for wear, down 22% in a week. However, a new Pepe alternative has emerged.

Pepe coin price today is $0.000008417 with a 24-hour trading volume of $786 million. Pepe coin is down 10% in the last 24 hours and has fallen by 28% over the past week.

The memecoin market has taken a beating this week, and Pepe is worse for wear, down 22% in a week. However, a new Pepe alternative has emerged. The new presale memecoin Pepe Unchained has shown continued strength, with it now having raised over $2.5m amid bullish forecasts from analysts.

Pepe price falls amid broader market slumpFor crypto bulls, it’s been a lackluster couple of months. The market follows Bitcoin, and BTC is down 24% from its 14 March all-time high (ATH).

Consequently, crypto prices have been hit across the board, and Pepe is one of the biggest losers this week. Falling from $0.000009249 on Sunday, Pepe is currently trading at $0.000008417.

That represents a 10% loss in the last day. However, its bearish momentum is even more pronounced on higher time scales.

Pepe is down a whopping 28% this week, 35% this month, and 50% from its 27 May ATH.

That said, the token has seen a strong 16% uptick in 24-hour trading volume today, reaching $786 million. This makes Pepe the most-traded memecoin today, eclipsing Shiba Inu and Dogecoin despite a significantly lower market cap.

Put differently, traders are paying close attention to the frog-themed memecoin. That’s also apparent on social media, with memecoin traders voicing their opinions on Pepe’s next move.

“PEPE just closed under the 10-day moving average on the weekly chart, meaning there is a low chance of recovery (short term) unless we get an outlier, such as a Coinbase listing or trading begins for the Ethereum ETF,” said Pepe Maxi.

However, others are more optimistic and regard Pepe’s current price as a rare opportunity.

Prominent community member Plazma dubbed it a “generational buying opportunity,” highlighting that Pepe is in a key structural zone that could precede its next explosive upswing.

Generational buying opportunity for $PEPE. pic.twitter.com/aDp7ADzGdw

Evidently, sentiment is mixed on Pepe’s near-term trajectory, but most traders agree that its long-term trajectory is bullish.

So, with traders fixated on Pepe and a potential price reversal imminent, the timing couldn’t be better for new presale Pepe Unchained to launch.

Pepe Unchained raises $2.5m in presale funding

Sensations like Pepe coin, Brett, and Book of Meme all stem from the meme coin. The connection with Pepe immediately taps into crypto’s most active memecoin community, giving it a huge boost from the beginning.

But now, Pepe Unchained is introducing a first-of-its-kind use case – it’s the first Pepe-themed cryptocurrency to have its own layer 2 blockchain.

Pepe Unchained is combining the explosive virality of memecoins with the power of layer 2 technology. It’s a formula that appeals to both memecoin enthusiasts and conservative investors.

Transactions on Pepe Unchained will be processed off the Ethereum main network, promising speeds 100x faster and fees magnitudes cheaper. At the same time, it maintains Ethereum’s decentralization and security.

And given its memetic roots, there’s a good chance Pepe Unchained will become a hotbed for memecoin innovation. It’s an ambitious use case, but investors have already approved by providing $2.5 million in funding.

99Bitcoins projects the PEPU price could 100x based on these investments, making it one of the best cryptocurrencies to buy in 2023.

The Pepe Unchained presale is currently live, allowing investors to buy in at a discounted, pre-market price. The price will gradually increase throughout the presale, so interested buyers are encouraged to act quickly.

For more information, please visit the Pepe Unchained presale.

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