Frog-Themed Meme Coins Are Soaring, and Several Are Achieving New Highs

Following Bitcoin's breakout above the $100,000 mark, altcoins are soaring, and several meme coins are achieving new highs.

Bitcoin’s breakout above the $100,000 mark has seen several altcoins soar, with meme coins achieving new highs.

Frog-themed meme coins are on the rise this week, which has seen their overall market cap jump to $14.7 billion after a $700 million increase just in the past 24 hours, following Musk’s posts on X (Twitter) that featured Pepe the Frog.

Although PEPE still hovers below the $0.000025 line, coins inspired by its image are soaring, including the recently released Pepe Unchained (PEPU), which skyrocketed by 136% in the past 24 hours.

After a sharp decline in the second half of November that lasted throughout the first week of December, Hoppy (HOPPY) and Turbo (TURBO) are also seeing gains of 37.35% and 45.11%, respectively.

Beyond established frog-themed coins, a new Pepe-inspired token, Wall Street Pepe (WEPE), is gaining traction in its presale, with over $2.5 million raised just in the past 24 hours.

CryptoSlate covered the launch of several new Pepe-themed coins in recent weeks, including Turbo, which is now leading the AI meme coin sector. Here’s a look at how the token performed in 2023 and what analysts expect next.

Turbo reaches a new ATH and climbs to the top of the AI meme coin sector

Although its appearance differs from Pepe, Turbo is the first AI-generated frog meme coin, and it has now flipped Goatseus Maximus (GOAT) to take the leading position in the $4.5 billion AI meme coin sector.

Launched in 2023, Turbo entered the market as a coin generated by GPT-4, priced at $0.0003172, and it took over a year for it to make substantial gains. It first soared alongside Pepe (PEPE) in May, when it reached $0.009450. Since then, its price fluctuated until the market-wide boom in November, when it went over the $0.01 mark for the first time.

While Turbo’s peak at $0.01 was short-lived in November, as it plummeted to the $0.007 mark in the second half of the month, its recent listing on Coinbase helped it reach a new ATH.

Crypto analyst Crypto Jon believes Turbo is bound to go beyond $0.02 following its breakout, while Man of Bitcoin expects it to continue soaring if it establishes support above the $0.01341 mark.

The token’s technical indicators are fueling the hype, with its long/short ratio of 1.59 reflecting that investors trust in its short-term success. Plus, its current price of $0.01285 is well above its 50-day SMA of $0.008662, signaling a strong potential for further upward movement.

Pepe Unchained explodes by 525% after IEO

After spending months in its presale stage, during which it raised more than $76 million, Pepe Unchained (PEPU) launched on Uniswap on Dec. 10, priced at $0.008965. Yesterday, it soared to $0.05291, following a market-wide frog-themed meme coin soar fueled by Elon Musk’s tweets depicting Pepe the Frog.

Although its price dropped soon after, PEPU is now breaking out, with a new ATH recorded at $0.05604, representing a 525% increase since its launch 48 hours ago.

Having shared news of its project’s crown jewel — the Pepe Unchained Layer 2 — being live, the token’s team now reveals more. According to them, PEPU’s Layer 2 has an average transaction time of two seconds and charges just a few cents in gas fees. With its instant bridging to ETH, it could see increased usage by meme coin developers and traders who wish to stay in the ETH ecosystem while avoiding its high costs.

Additionally, its Pepe Pump Pad feature is already seeing activity as it tries to replicate the success of Solana’s pump.fun coin launch pad.

As PEPU, one of the biggest presales in meme coin history, solidifies its success, investors are now eyeing the next big opportunity that’s still in its early stages.

Wall Street Pepe raises $7.1 million amidst the craze for frog meme coins

While PEPU took 48 days to get past the $7 million raised mark, Wall Street Pepe reached that milestone in just 9 days. The token’s presale started on Dec. 3, raising over $500,