As Bitcoin surged near its all-time high, meme coins like Dogecoin, Shiba Inu, and PEPE followed suit, while new contender Pepe Unchained gains early investment attention.
Key Points:
– Bitcoin approached its all-time high on Tuesday, driving up meme coin prices for Dogecoin, Shiba Inu and PEPE
– Dogecoin and Shiba Inu’s social activity spiked while PEPE’s dominance followed suit on Wednesday
– Emerging meme coin Pepe Unchained (PEPU) has gained early investment interest, reaching a $23.7 million presale milestone
As Bitcoin surged on Tuesday to test its all-time high of $73,777, several meme coins saw notable increases alongside it. Dogecoin (DOGE), Shiba Inu (SHIB) and PEPE posted gains, mirroring Bitcoin’s performance in a broader market rally.
Bitcoin’s upward trajectory saw DOGE, SHIB and PEPE riding similar momentum, although the meme coins corrected slightly early Wednesday.
Active addresses for all three coins increased on Tuesday, indicating heightened trading activity, while social metrics showed rising mentions for Dogecoin and Shiba Inu, with PEPE lagging behind but showing increased social dominance mid-week.
These meme coins, often regarded as speculative assets, tend to follow Bitcoin’s price swings. However, they also exhibit unique trends based on social media attention and on-chain metrics.
For example, Dogecoin saw a 2.7% dip on Wednesday, breaking a short winning streak, while Shiba Inu showed signs of a potential breakout from its multi-month downward trend. PEPE, still in a corrective phase, held close to a support level of $0.00000868, with analysts watching for signs of further movement if it gains market traction.
PEPU Presale Attracts Investor Interest Amid Meme Coin Trend
Amid this meme coin rally, a new cryptocurrency—Pepe Unchained (PEPU)—has attracted both retail and whale investors, raising $23.7 million through its ongoing presale.
PEPU has garnered interest among investors seeking early exposure to low-cap meme coins with the potential for substantial returns during market bull cycles. This appeal is based partly on market analysts’ forecasts that frog-themed meme coins, led by PEPE, may emerge as significant gainers in the current bull run.
Major crypto analysts have expressed positive sentiment about PEPU’s potential. For instance, KIFS Crypto, a prominent investor in the cryptocurrency space, suggested PEPU’s market cap could increase significantly as the broader bull market continues.
Meanwhile, the popular YouTube channel 99Bitcoins projected 50x to 100x returns for the presale token, with crypto analyst ClayBro also highlighting its potential as a top investment among new meme coins.
Unlike traditional meme coins, Pepe Unchained has launched its own Layer-2 ecosystem, positioning it as a more utility-focused digital asset. This includes advanced tools such as a decentralised exchange (DEX), an Ethereum bridge and its block explorer.
Utility-Driven Approach and Ecosystem for Pepe Unchained
Pepe Unchained’s development diverges from typical meme coin projects, as it aims to support a Layer-2 ecosystem with various features designed to appeal to investors seeking both functionality and growth potential.
A staking protocol within this ecosystem currently offers a 98% reward rate, adding another layer of incentive for holders. Additionally, the project has outlined a plan to recruit developers for its Pepe Frens With Benefits Developer Grants, with the aim of building applications that could enhance the value of the ecosystem.
The presale has demonstrated significant whale interest, with a single transaction in July totalling $200,000 and a recent 20 ETH investment of $52,000 in PEPU. Such investments underscore the perceived potential among investors who see Pepe Unchained as a leading candidate in the frog-themed meme coin category.
Future Outlook: Meme Coins in a Bull Market Context
With Bitcoin nearing a record high, meme coins like Dogecoin, Shiba Inu, PEPE and new entrants like Pepe Unchained stand to benefit from increased investor attention.
While PEPU has yet to launch on major exchanges, its presale results point to a growing interest, supported by the Layer-2 utility it offers. As Bitcoin continues to drive market sentiment, these meme coins could see further volatility and potential gains, especially as investors look for high-risk, high-reward assets.
For Pepe Unchained, the broader meme coin trend offers a timely backdrop. PEPU’s positioning as a utility-driven meme coin may attract investors seeking long-term growth beyond market trends. If Bitcoin continues its upward trend, PEPU’s unique features and early investor interest could position it as a notable player in the ongoing meme coin cycle.
