As the cryptocurrency market enters ‘Uptober’, meme coins are experiencing a remarkable surge, with Pepe ($PEPE) leading the charge. The meme coin sector has seen an impressive 17.9% increase in the last 24 hours, pushing its collective market cap to a staggering $55.6 billion. Pepe has outpaced its competitors, recording a 15% overnight gain and a 26% weekly increase, trading at $0.00001049. This performance surpasses even established players like Dogecoin ($DOGE) and Shiba Inu ($SHIB), though the latter is not far behind with a 14% overnight jump and a 35% weekly gain.
While Pepe’s rapid ascent is noteworthy, technical indicators suggest a potential cooling-off period ahead. The coin is approaching its late-July resistance level of $0.000012, and its relative strength index (RSI) indicates an overbought status. However, even if a sell-off occurs, Pepe is expected to maintain its current price level, reflecting its growing strength in the meme coin market.
Amidst this meme coin frenzy, a new player has entered the arena: Pepe Unchained ($PEPU). This innovative token distinguishes itself by operating on a proprietary Ethereum Layer 2 solution, addressing the scalability issues that plague many blockchain networks. With faster transaction speeds and lower fees compared to Ethereum’s main network, Pepe Unchained aims to offer enhanced value to its holders. The project has already raised an impressive $15.6 million in its presale, attracting attention with its unique approach to the meme coin concept and promising high staking rewards of up to 136%.
