Pepe rises as Layer 2 token Pepe Unchained emerges as new contender

Pepe Surges in Popularity, Pepe Unchained Presale Raises $800k

Pepe continues its upward trend, surging over 8% today and outperforming most other cryptocurrencies. The interest in Pepe is further fueled by Pepe Unchained, a remake of Pepe with its own layer 2 blockchain, which has raised over $800k in its presale.

Strong Performance for Memecoins

Memecoins have experienced a resurgence in price action, with the sector's total market cap climbing 4%. Pepe has been one of the strongest performers, pumping 8.8% and ranking among the top 5 best-performing cryptos in the top 100.

Pepe's Market Leadership

Pepe currently trades at $0.00001268, up 8.4% this week but still down 16.3% this month. Its market cap of $5.3 billion makes it the third-largest memecoin and 23rd-largest cryptocurrency overall.

High Trading Volume Signals Strong Demand

Pepe's 24-hour trading volume of $1.1 billion places it as the eighth most-traded cryptocurrency. Analyst Brian Garnett notes that this high trading volume indicates significant market interest and potential for further price growth. Pepe's price action is reminiscent of its previous all-time high, suggesting further potential for gains.

Analysts Remain Bullish on Pepe

Analysts are generally bullish on Pepe's prospects. Elja observes its price trend mirroring that before its previous ATH, while Limbo highlights its trading at a key trendline resistance level and its recent bounce at a critical support/resistance area.

Pepe Unchained Gains Traction

Pepe Unchained has attracted significant interest during its presale. The project aims to develop its own blockchain, known as "Pepe chain," which will offer faster and cheaper transactions than Ethereum. Targeting memecoins, Pepe Unchained combines the allure of memecoin culture with the promise of scalability, positioning itself as a potential contender in the memecoin market.