The Toshi price surged over 63% in the last 24 hours to trade at $0.0001481 as of 7:22 a.m. EST as investors bet big on the meme coin’s short-term future.
Top-performing meme coins (Source: CoinGecko)
With the recent increase in the TOSHI price, the crypto has emerged as the best 24-hour performer in the meme coin market, according to CoinGecko.
The altcoin also has a comfortable lead over the next best-performing meme coin in the past 24 hours, which was Kitten Haimer (KHAI) with its 41% rise.
The Toshi Price Fighting With A Major Technical Barrier
4-hour chart for TOSHI/USD (Source: GeckoTerminal)
The Toshi price is attempting to break above the resistance level at $0.0001477. Overcoming this threshold could give the meme coin a solid foundation to rise off from in the following 24 hours. Traders might subsequently push the crypto’s price up to the next major mark at $0.0001646.
However, the Toshi price getting rejected by the $0.0001477 resistance could prevent a bullish move from taking place. In this more bearish scenario, the altcoin could end up testing the closest support level at $0.0001307. A break below this technical crutch might then lead to TOSHI plunging to $0.0001184 in the short term.
Technical Indicators Point To A Continued Increase In The Toshi Price
From a technical indicators standpoint, there are some signs that suggest the Toshi price will continue to rise through the course of the next 24 hours. In the last few hours, the Moving Average Convergence Divergence (MACD )line crossed above the MACD Signal line. Traders often see this technical event as a sign that a crypto has entered a positive trend.
RSI readings have also undergone a steep rise from high 30s to stand in the mid 70s region over the last trading day. Now, the indicator suggests that TOSHI is overbought, which could be seen as a sell signal by some traders. However, it is not unusual for RSI readings to remain high when a crypto is pumping.
As Toshi tries to flip a major resistance level into support, investors are flocking to layer-2 meme coin rival Pepe Unchained (PEPU), which YouTuber ClayBro, with 130K subscribers, notes has attracted the attention of whale investors.
A Major Technical Upgrade About To Hit The Meme Coin Market
Pepe Unchained (PEPU) aims to bring a much-needed upgrade to the crowded meme coin sector, which has been the reason for outages on both the Solana and TON blockchains.
Through its layer-2 chain, the project will ease the computational workload that meme coins place on layer-1 networks by shifting the transactional work of these lighthearted tokens to a separate blockchain.
These cryptos will slowly migrate to Pepe Unchained’s blockchain, with the first meme coin on Pepe Unchained’s radar being the popular frog-themed PEPE token.
Pepe Unchained — Groundbreaking Layer 2 Blockchain technology.
Welcome to the future of meme coins. 🐸 pic.twitter.com/iC9b6YSynT
— Pepe Unchained (@pepe_unchained) September 6, 2024
With this transition, PEPE lovers will enjoy a 100-fold increase in transactional speeds while being able to send and receive crypto at a fraction of the cost using PEPU.
Being a layer-2 chain, investors will still be able to seamlessly shift value between the robust and secure Ethereum network and the lightning-fast Pepe Unchained blockchain.
Developers will soon build decentralized applications on the Pepe Unchained network as well, making the blockchain more than just a host for the next wave of meme coins. This is after Pepe Unchained launched a developer grant called “Frens With Benefits.”
Zooming Past ICO Fundraising Milestones
Pepe Unchained has just blasted past the $15 million milestone in funds raised with its ongoing presale, signaling strong investor confidence in the project’s future. This strong performance at this early stage has attracted the attention of multiple experts and analysts.
A potential reason behind this investor frenzy, in addition to the project’s meme coin appeal and layer-2 capabilities, could be the 139% APY on offer to presale buyers who stake PEPU.
To get in on these rewards, investors will first have to purchase the token via the simple buy widget embedded on the project’s website.
Selling for $0.00985, PEPU can be bought using either ETH, USDT, BNB or bank card. Once purchased, the tokens can then be locked up via the staking page on the website for investors to start earning passive rewards.
Potential buyers will want to hurry because the meme coin’s price is scheduled to increase during the subsequent stages of its ICO. The next price hike will happen in less than 48 hours.
Purchase and stake PEPU for the 139% APY here before its next price increase.
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