Pepe Unchained Emerges As New Frog Coin Competitor to Pepe (PEPE), Pepe Price Drops

YEREVAN (CoinChapter.com) — Pepe (PEPE), the popular meme coin, experienced a significant price drop recently. This has raised concerns among investors. Since its launch in April 2023, Pepe has been a well-known player in the meme coin market. However, it is now facing challenges in maintaining its value. As of today, PEPE trades at $0.0000115, showing a minor 24-hour change of +0.83%. The current market cap stands at $4.84 billion, with a 24-hour trading volume of $499.38 million.

The recent price decline occurred after Pepe fell below the $0.00001135 support level, losing crucial support. The coin is now trying to regain the 20DMA (20-day moving average) support, with market participants closely watching its performance. A tweet captured the current sentiment:

“$pepe lose this lvl n itz ded! hold this lvl n v moon!”

The Relative Strength Index (RSI) indicator shows a minor bullish divergence at 0.49, providing some positive signals amidst the market uncertainty.

PEPE Battles Critical Support Levels as Market Watches Closely

PEPE’s technical analysis reveals a critical juncture. The price has an upside target of $0.00001140, indicating a potential gain of +0.8%. On the downside, the price could drop to $0.0000105, representing a possible decline of -2%. This creates a risk-reward ratio of 0.35, reflecting the current uncertainty in the market.

The market’s attention is focused on whether PEPE can stabilize and maintain its structure. The consolidation phase will be essential in determining the coin’s future direction.

New Frog Coin Raises $6.4M, Aims to Revolutionize Meme Coins with New Layer-2 Chain

Amid Pepe’s struggles, a new competitor, Pepe Unchained (PEPU), has emerged and gained investor interest. This new project plans to create a standalone layer-2 chain, moving away from the ERC-20 Ethereum token standard. This initiative aims to provide a more efficient platform for meme coin developers, offering a low-cost and high-speed blockchain solution.

Pepe Unchained has already raised $6.4 million, drawing attention from investors seeking new opportunities in the meme coin market. The project aims to build a vibrant ecosystem for frog coin enthusiasts. A tweet from the official Pepe Unchained account expressed excitement about the presale:

“That feeling when you are in the Pepe Unchained Presale .”

The presale’s success and the project’s ambitious plans have positioned Pepe Unchained as a potential rival to PEPE. The competition between these frog-themed coins is intensifying as both projects navigate the evolving meme coin landscape.

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