The meme coin PEPE has seen a significant 5% price increase over the past 24 hours, sparking renewed interest among traders and analysts. This recent price movement, with PEPE trading at approximately $0.00000786, has analysts predicting a potential uptrend for the cryptocurrency.
PEPE’s price surge, which peaked at over 7% before a slight pullback, is largely attributed to the coin breaking above the 50-period exponential moving average (EMA) on the 4-hour chart. This breakout, followed by a successful retest of the EMA as a support level, has fueled bullish sentiment among investors. The positive momentum is underscored by a sharp increase in trading volume, with 24-hour spot volumes nearing $600 million—up by $150 million from earlier in the week. However, a 4% dip in open interest since yesterday indicates mixed signals in the market.
Among those closely watching PEPE is BIT CO, a well-known crypto analyst with a strong following on Twitter. BIT CO pointed out that if PEPE could break the resistance at $0.0000075, it could see a significant price rise. Following this analysis, PEPE successfully broke through the resistance, adding credibility to the forecast. BIT CO’s analysis suggests a potential price target of $0.0000154, which would represent a 95% increase from the current levels.
In parallel with PEPE’s price action, the new project Pepe Unchained (PEPU) has made headlines by raising over $10 million in its ongoing presale. The presale has attracted significant investor interest, with PEPU tokens currently priced at $0.0092364 each—potentially lower than the expected listing price on decentralized exchanges (DEX).
Pepe Unchained aims to build a meme-focused Layer-2 network on Ethereum, dubbed the “Pepe Chain,” designed to cater specifically to meme coins. According to the project’s whitepaper, this network promises transaction speeds 100 times faster than Ethereum. Additionally, the project features a staking protocol that allows PEPU holders to lock up their tokens in exchange for high annual yields. To date, over 796 million PEPU tokens have been staked.
The success of Pepe Unchained’s presale has drawn attention from various crypto influencers, including YouTuber Zach Humphries, who has over 150,000 subscribers. Humphries described Pepe Unchained as a project with “big potential,” further boosting its profile in the meme coin market.
As PEPE continues its upward trajectory, buoyed by strong trading volumes and positive analyst sentiment, the successful presale of Pepe Unchained adds another layer of excitement in the meme coin sector. With innovative plans for a new Layer-2 network and strong community backing, both PEPE and PEPU are positioned for potential growth as the market evolves.
Investors are now closely watching PEPE’s performance, particularly its ability to maintain momentum above key resistance levels.
