Frog coins, particularly Pepe coin (PEPE), are bucking the trend of a broader crypto market pull-back as the meme coin vertical gains strength. The Pepe Unchained (PEPU) presale has already surpassed $8.5M in funding less than a day before the next major price increase. However, traders’ hopes of a pump following the launch of Ethereum Spot ETFs have been disappointed, reminiscent of a -20% BTC ETF sell-off in January. Jump Capital’s decision to dump assets during a low volatility weekend in August resulted in a -33% correction across the crypto market.
Despite the recent market downturn due to external factors, meme coins like Pepe coin remain in focus for many crypto influencers. Pepe coin sentiment remains bullish, with holders targeting market caps up to $50Bn in the next year, potentially leading to a 10x increase. The current market price of PEPE is $0.00000802, with a 24-hour change of -2.2%. The chart shows that Pepe coin is in a strong position, trading above key support levels. Bulls are targeting a close above $0.00001 this week, which could push the price higher into the Bollinger band range and overcome resistance around $0.00001. The RSI suggests there is room for the price to increase further, which could benefit Frog coins in the meme coin market.
Pepe Unchained (PEPU) is gaining traction among investors as it aims to supercharge the underdeveloped Pepe ecosystem. The project is focused on creating a native layer-2 scaling chain, PEPU, to break free from the limitations of the ERC-20 network. This high-speed blockchain will enable faster and cheaper meme coin deployment and provide a true home for the frog coin vertical. The PEPU presale has already raised $8.5M, making it one of the most anticipated meme coin DEX launches of Summer 2024. The project’s goal is to revolutionize the meme coin space and allow frog coins to thrive in a more efficient ecosystem.
The bullish sentiment surrounding Pepe coin and the development of Pepe Unchained indicate optimism among retail investors seeking high rewards in the meme coin market. The potential for PEPE to continue its upward trajectory and break key resistance levels is driving interest in frog coins. The successful fundraising and development of PEPU highlight the demand for projects that aim to enhance the meme coin ecosystem and provide better infrastructure for frog coins to flourish. Investors are closely monitoring these developments and positioning themselves to take advantage of potential growth opportunities in the meme coin space.
It is crucial to remember that investing in crypto, especially meme coins, is high-risk and speculative. This article serves as informational content and does not constitute investment advice. Readers should proceed with caution and conduct their research before making any investment decisions. The dynamic nature of the crypto market requires a thorough understanding of the risks involved and a disciplined approach to managing investments. As developments in the meme coin space continue to unfold, investors should stay informed and make informed decisions based on their risk tolerance and investment goals.
