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Cryptocurrency News Articles
Meme Coins Buck Last Week's Downtrend and Embark on a Bullish Pathway
Sep 11, 2024 at 01:45 am
Among the top gainers are Popcat, Dogs, Dogwifhat, Dogecoin, and Brett, while the new presale token Pepe Unchained is also showing strength.
Meme coins led last week’s downturn and now they're embarking on a bullish path.
Among the top gainers are Popcat, Dogs, Dogwifhat, Dogecoin, and Brett, while the new presale token Pepe Unchained is also showing strength.
Meme Coin Prices Surge On Market Recovery
Joke token prices are rallying on a turn in market sentiment this week.
Last week’s U.S. job market data stoked concerns about a potential recession, which caused crashes across global markets. However, the fears have been largely shrugged off as prices rebound.
Bitcoin has just made its first lower high on the price chart, which some technical analysts, like Cousin Crypto, class as a “bottom signal.”
Traders are piling into meme coins amid the optimism, and while the total crypto market cap is up 2.6% today, the meme coin market cap is up over 5.6%.
Per CoinGecko data, the three top performers are Kittekoin (up 76%), Hoppy (up 27%), and Pepe Fork (up 23%).
Among the top 10 meme coins, Popcat is leading the way with an 11% pump. Meanwhile, Dogwifhat is up 7.9%, Dogs is up 7.9%, Dogecoin is up 6%, and Brett is up 6.5%.
The Fear and Greed Index also reflects a sentiment change in the crypto market.
After nearing “Extreme Fear” last week, it is now back in the “Neutral” zone at a level of 46 out of 100, which is comfortable.
Usually, the market leaders drive prices – like Dogecoin for meme coins – and some technical analysts are predicting a 50% rally for the dog coin.
Ali Martinez, who goes by Ali_Charts on X, claims that Dogecoin could rally 50% to $0.15 if it holds support at $0.1 and continues to trade inside a descending wedge.
If the bullish momentum continues, then we could see new projects like Pepe Unchained soar.
Pepe Unchained is in a presale and has raised a huge $12.5 million, despite the broader market bearishness in recent weeks.
First Meme Coin With an L2: Traders Invest Over $12.5M into Pepe Unchained Presale
While Pepe Unchained shares a name with the infamous Pepe coin, it aims to provide far more value to its users.
It will be the first meme coin with its own Ethereum layer 2 blockchain, which will offer lower fees and faster speeds than Ethereum.
The meme coin market is worth over $40 billion, and “Pepe Chain” will be the first blockchain dedicated to the sector. This could accelerate innovation and open many new use cases, such as meme coin DeFi apps or a meme coin metaverse.
The project will also have a dedicated Ethereum bridge to make moving funds on and off the network seamless. Other features include a block explorer and staking.
Staking is currently live and offers a 162% APY, but this will decrease over time.
Given its presale success, it’s no surprise that prominent analysts are taking note.
ClayBro claims, “Whales are beginning to load up on Pepe Unchained.”
He adds that this is a big deal for the project, and it reflects strong demand, which could continue into its exchange launch.
The Pepe Unchained presale is ongoing and currently priced at $0.0096126.
However, the price will incrementally rise throughout the presale, and the next increase will be in one day.
Visit Pepe Unchained Presale
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