Pepe ( PEPE) has jumped 5% in the past 24 hours, catching the attention of meme coin traders.
PEPE Price Jumps 5% as Analyst Forecasts Uptrend, Pepe Unchained Presale Raises $10M
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One top analyst has even suggested that this could be the start of an uptrend for the coin.
Meanwhile, new project Pepe Unchained (PEPU) has passed $10 million in its ongoing presale – with investors worldwide piling in to gain early exposure.
PEPE Jumps 5% After Breaking Key Technical Level
PEPE’s recent price action has got investors excited.
The coin is now hovering around $0.00000786, marking a 5% jump from yesterday.
PEPE was even up over 7% last night before pulling back slightly.
So, what’s behind this sudden leap?
Analysts point to PEPE breaking above the 50-period exponential moving average (EMA) on the 4-hour chart.
This breakthrough, followed by a successful retest as support, has traders eyeing more upside.
The bullishness is reflected in the numbers.
24-hour spot volumes are approaching $600 million, around $150 million more than earlier in the week.
However, open interest has actually dipped by 4% since yesterday.
These conflicting indicators are sending mixed signals to the market.
While the price jump and increased trading volume suggest growing interest, the decrease in open interest hints at some hesitation.
As such, many are interested in seeing how PEPE performs as we approach the end of the week.
Analyst Predicts Major Upside for PEPE After Resistance Break
PEPE’s recent price movement has caught the attention of some big names.
And one top analyst has suggested there may be more to come.
BIT CO, a crypto commentator with a Twitter following of over 18,000, recently shared his thoughts on the coin’s potential.
“ PEPE is looking promising!” BIT CO tweeted.
“If it breaks the resistance at $0.0000075, we could see a significant price increase.”
He tweeted this last week before PEPE did indeed break through that minor resistance level.
This has lent additional weight to BIT CO’s analysis.
The analyst’s chart indicates a possible upside target of $0.0000154, which would represent a 95% increase from PEPE’s current price.
Given that several meme coins have seen gains this week, BIT CO’s prediction may prove accurate.
For now, traders are keeping a close eye on whether PEPE can sustain above $0.00000075.
If it can, then we might see an uptrend kick-off.
Pepe Unchained Raises $10M in Presale with Big Plans for Meme-Centric Layer-2 Chain
Alongside PEPE, a new meme coin is also drawing attention.
Pepe Unchained has just passed the $10 million mark in its presale, leaving investors scrambling to get involved.
PEPU tokens are currently up for grabs for $0.0092364 each.
That’s expected to be a discount on the eventual DEX listing price.
But Pepe Unchained isn’t just another useless frog-themed token.
Instead, it’s a meme coin project with real ambitions – specifically related to creating a new Layer-2 network on Ethereum.
This network, dubbed the “ Pepe Chain,” will be solely for meme coins.
And according to Pepe Unchained’s whitepaper, it’ll offer speeds that are 100 times faster than Ethereum.
On top of that, Pepe Unchained also features a staking protocol for PEPU.
PEPU holders can lock up their tokens for high annual yields.
This staking protocol is already live – and over 796 million PEPU tokens have been locked up so far.
Unsurprisingly, some crypto commentators think Pepe Unchained is the real deal.
Zach Humphries, a YouTuber with over 150,000 subscribers, even described it as having “big potential.”
So, with $10 million raised and an exciting roadmap, things look promising for Pepe Unchained.
It might be one to watch as the meme coin market picks up steam again.
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