PEPE and WIF Prices Struggle but Pepe Unchained Presale Keeps Rising Towards $24M
Pepe (PEPE) and DogWifHat (WIF) have faced pressure in the past few days, dropping significantly as investors opt to take profits.
Meanwhile, new coin Pepe Unchained (PEPU) is telling a different story with its presale fast approaching the $24 million milestone.
Meme Coin Market Sells Off as PEPE & WIF Suffer Losses
Its been a crazy period for meme coins, and this week has been no exception.
After a string of gains, both PEPE and WIF have taken a hit since Wednesday.
PEPEs price is down 9%, while WIF has been less fortunate, falling by almost 11%.
However, the pain hasnt stopped there.
Even bigger names like DOGE and SHIB, along with smaller coins like POPCAT, havent been immune to the bearishness.
These drops have brought the total meme coin market cap down to $60 billion, and traders are now trying to figure out whats next.
Was this just a breather after a bullish streak, or is something more alarming on the horizon?
Legendary meme coin trader Murad believes its the former.
He tweeted earlier this week that we are still in the early stages of the meme coin supercycle.
Market Jitters & Liquidation Woes Hurt Bitcoins Progress
Its not just meme coins like PEPE and WIF that have taken a hit.
Bitcoin has also struggled in the past few days and is now hovering around $70,100 after dropping as low as $68,800 earlier today.
Thats a 4% drop from Tuesdays high.
This drop has made things rough for those using leverage, as over $76 million in long positions were liquidated in just the past day.
A few things are putting a dampener on the market.
Coinbase released a poor quarterly earnings report that missed the mark on profit and revenue, which worried traders.
The companys stock price has fallen 19% in the past three days.
Then theres the political space; according to Polymarket, Trumps chances of winning the election have dropped to 61%.
This drop has everyone on edge because Trump is considered the more pro-crypto of the two candidates.
All of this uncertainty isnt just affecting crypto.
The S&P 500 took an almost $800 billion hit yesterday, which was the biggest drop since September.
These factors help explain why meme coins like PEPE and WIF have been struggling.
Pepe Unchained Breaks the Mold & Rallies Towards $24M as Presale Hype Continues
Despite the challenging conditions, one new project is still going strong Pepe Unchained.
The projects presale is nearing the $24 million milestone, and PEPU tokens are still on offer for just $0.01199 each.
One of the main reasons for the hype is Pepe Unchaineds tech plans.
These plans involve creating a Layer-2 blockchain just for meme coins called Pepe Chain.
Pepe Chain will be all about making life easier for traders.
It promises to offer transactions 100 times faster than Ethereum can provide and gas fees that wont eat into trading profits.
However, the team isnt stopping there.
Theyre also building an ecosystem with bridging capabilities, their own DEX, and even a block explorer.
This kind of utility has people buzzing on social media, especially on Twitter and Telegram.
Pepe Unchained will also feature a dedicated staking app.
This app provides 98% APY yields for PEPU holders and has already seen over 1.6 billion tokens staked.
Thats a vote of confidence from investors, even when the market looks rough.
Adding to the projects appeal is that it has been ranked second on CoinSniper.net.
All of these factors have combined to help Pepe Unchained avoid the downturn that has affected other meme coins like PEPE and WIF.
Plus, with the presale nearing another key milestone, investors seem to be betting big on this Layer-2 projects prospects.
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