New Meme Coin Raises $2.3 Million Amid Crypto Turmoil, Defying Market Crash
Simon Chandler
July 5, 2024, 09:44 EDT
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2 min read
Pepe Unchained, a new meme coin, has successfully raised $2.3 million in its highly popular presale, attracting new investors despite the significant losses experienced by the wider cryptocurrency market today.
Pepe Unchained operates as a layer-two network for Ethereum and has been able to entice supporters with its promise of faster and more cost-effective transactions for traders. Additionally, it plans to create an ecosystem for DeFi and meme tokens, while its improved efficiency will enable it to offer double the staking rewards.
Given its potential for a significant rally upon listing, it comes as no surprise that investors have been turning to Pepe Unchained amidst the struggles of the broader market.
Pepe Unchained embarked on the presale of its native PEPU token last month, and it has quickly gained momentum. Just a couple of weeks ago, its total raise stood at a mere $200,000. However, it has since soared by over 1,000%, currently standing at $2,336,252 and surpassing the $2 million mark a couple of days ago. This impressive growth demonstrates how the project is rapidly gaining popularity, with investors clearly impressed by its combination of meme token appeal and practical utility.
The timing of its presale launch is also opportune, as traders are offloading major tokens and seeking new investment opportunities. Consequently, new meme coins and presale tokens like PEPU have been attracting many investors.
PEPU’s appeal lies in its plan to introduce a layer-two network for Ethereum, focusing on creating a hub for meme token trading and DeFi. The platform’s specifications look promising, with transactions projected to be 100 times faster than those on Ethereum, making it highly convenient for investors who require swift turnaround times between trades. Its improved efficiency will also allow it to double the staking rewards it would have offered as a token operating directly on Ethereum. Furthermore, it will establish a bridge between its network and Ethereum, enabling investors to transact instantaneously between the two platforms. These features position it as a highly promising layer-two network and a potential competitor to existing L2s like Base, Optimism, and Abritrum.
The strong performance of the presale may translate into a strong listing for PEPU. Investors interested in participating in the sale can do so by visiting the official Pepe Unchained website, where they can link their wallets and make their purchases accordingly. PEPU is currently priced at $0.0082596, with incremental increases expected with each new stage of the sale. However, the coin’s fundamentals suggest that it will surpass this level significantly once it is listed. The listing process will commence after the sale concludes, starting with decentralized exchanges like Uniswap and eventually moving on to centralized platforms.
While there are no guarantees that PEPU will replicate the performance of other successful meme coin presales this year, its strong fundamentals provide it with a favorable chance of performing well once its sale ends in the coming weeks.
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Disclaimer: Cryptocurrency is a high-risk asset class. This article is for informational purposes only and should not be considered investment advice. There is a possibility of losing all invested capital.