Pepe Unchained Rallies 460% After Launch: Will WEPE Be The Next 1000x Crypto?
$SOL #CryptoUsersHit18M #CryptoUsersHit18M #BinanceListsVelodrome #SuiHitsNewATH Pepe Unchained (PEPU) is a newly launched meme coin that has previously been in presale for several months.
Its presale ended up becoming the largest ICO of the year, and one of the largest ones in history, hitting the hard cap and raising $74 million.
Then, after launch, the projectās price skyrocketed 460% in two days.
Initially, it went up even more, going from $0.02053 to an all-time high of $0.06856.
It peaked yesterday, but the resistance at $0.060 ended up being too strong, and PEPU failed to turn it into a support before its price was rejected.
However, the project found strong support at $0.040, which allowed it to bounce back up. Furthermore, while it did see strong fluctuations in the past 24 hours, this is not unusual for a newly launched cryptocurrency trying to find its true value.
PEPU was surrounded by a lot of hype, and many considered it the next 1000x crypto, which led to a rather strong bullish wave after its launch.
Since then, some holders have decided to take profit and sell their PEPU, which is normal and expected behavior within the first few days of the tokenās launch.
Even so, the projectās post-launch rally was quite impressive, and it reflects the strength of the demand that PEPU received.
The reason behind this demand is that this is the first-ever Pepe-based meme coin to have its own blockchain ā an L2 chain that allows it to be faster, cheaper, and more scalable than Pepe (PEPE), the third largest meme coin by market cap, or any of its other alternatives.
In fact, many speculated that PEPU might overtake Pepe, and while this has not happened yet, the fact is that the coin has only been out for two days now, and its major CEX listings have yet to be seen.