The Pepe price has experienced a 2% increase in the past 24 hours, reaching $0.000008103. Despite a 8% gain in the past week, the meme coin has seen a 35% decline in the last 30 days. This drop in price is attributed to a decrease in whale activity, with a large trader dumping 500 billion PEPE at a $4 million loss. However, with an annual gain of 650%, Pepe may still have the momentum to recover in the medium- and long-term.
PEPE’s indicators on the 1-day chart continue to look promising, with the moving averages showing a positive trend. While the trading volume has decreased to $600 million, down from $3.5 billion in early August, there are still whales holding large quantities of the coin, suggesting potential for a rebound. The arrival of rate cuts in September could also lead to increased bullishness in the market, potentially pushing the Pepe price to $0.00002 by the end of the year.
While Pepe remains a popular meme coin, its lack of fundamentals may pose a risk if whales lose interest. However, there are newer meme tokens entering the market with strong features and fundamentals. One example is Pepe Unchained (PEPU), a new layer-two project that has raised $10 million in its presale. PEPU will launch its own L2 platform for Ethereum, focusing on meme tokens with near-instant transactions and low fees, potentially competing with existing L2s like Optimism and Polygon.
Pepe Unchained’s faster transaction times and bigger staking rewards may attract more traders to hold PEPU tokens for the long term. With a capped supply of 8 billion and a relatively decentralized structure, investors can join the sale at Pepe Unlimited’s official website. Currently priced at $0.0092364, the sale price is set to rise soon, indicating strong interest from investors and the potential for a successful listing.
In conclusion, despite the recent decline in the Pepe price, there are positive indicators that suggest potential for a recovery in the medium- and long-term. The emergence of projects like Pepe Unchained with stronger fundamentals and innovative features could provide new opportunities for meme coin investors. As the cryptocurrency market continues to evolve, it is important for investors to stay informed and cautious, as crypto remains a high-risk asset class.
