The post Pepe Unchained Presale Hits $7.5M as Crypto Recovers From Brutal Crash appeared first on Coinpedia Fintech News
It has been a week of losses for most traders, but quick-footed degens want to make it all back with Pepe Unchained ($PEPU).
This new meme coin has successfully raised $7.5 million in presale funding, signalling investors are highly bullish on its potential after launching on exchanges.
As fears of a global recession swept the financial markets, Pepe Unchained kept raising funds – and now the future looks bright as prices recover.
Bitcoin eyes $60K as Japan sees biggest growth day since 2008, $PEPU set to skyrocket
After a devastating flash crash across financial markets on Monday, bulls are reentering and recouping their losses.
Indeed, that’s a good signal for risk-on assets across the board. Should the bull market resume, low-caps like Pepe Unchained could explode.
But let’s go back to Monday.
Japan had just hiked interest rates for only the second time since 2007, putting an end to the so-called “carry trade,” in which traders would borrow low-interest funds in Japan, convert them to a different currency, and then invest them for a higher yield.
The preceding carry-trade unwinding caused upheaval across the globe.
Stock markets in Japan, Taiwan, the United States, and many European markets booked unprecedented losses.
In the U.S. alone, $2.9 trillion was wiped out on Monday.
Global recession concerns wipe out $2.9 trillion from stocks, marking the worst day since the 2020 COVID crash.Meanwhile, the @Nasdaq 100 is down over 10% from its peak. pic.twitter.com/4XCmMwxnJZ
— Cointelegraph (@Cointelegraph) August 2, 2024
This was helped in no small part by U.S. labor market data showing a higher-than-expected 4.3% unemployment rate for July last week. This was a 20 basis point increase from June.
But here’s the good news: the Japanese government has U-turned.
Due to the stomach-turning dip, it decided to reverse the rate hike, therefore enabling the carry trade to carry on.
BREAKING: Japan just did a 180 and quickly folded on their rate hikes. JPY carry trade unwind is over for now. We're safe. https://t.co/ajt0UdSCF4
— VirtualBacon (@VirtualBacon0x) August 7, 2024
The market reacted with a sign of relief. Japan’s Nikkei index has enjoyed its biggest single-day growth since 2008, and other markets have followed suit.
NEW: Japan's Nikkei stock index recorded the biggest single-day surge since October 2008 (3,122 points) – Bloomberg pic.twitter.com/slgoOSzVsx
— Radar (@RadarHits) August 6, 2024
Among them is, of course, the cryptocurrency market, with Bitcoin now trading above $57K.
That’s over 14% from its lows, according to CoinMarketCap data.
But other cryptos have booked even more substantial gains.
Today’s top performers are Solana meme coins Popcat and Dogwifhat, up 19% and 18%, respectively.
And yesterday, Brett led the top 100 cryptos with a staggering 45% 24-hour increase.
With meme coins leading crypto’s recovery, it’s the perfect time for Pepe Unchained to launch.
And unlike the other meme coins mentioned, Pepe Unchained didn’t slow while the broader market was selling off.
Pepe Unchained is building an Ethereum layer 2 – will it be bigger than Polygon?
There’s no denying that meme coins stole the show in 2024, but they’re yet to have a dedicated blockchain.
DeFi has multiple, and so do real-world assets and NFTs. However, no one has made a blockchain just for meme coins.
Enter Pepe Unchained.
It’s the first viral meme coin with its own blockchain.
It will be an Ethereum layer 2, meaning it benefits from Ethereum’s security and decentralization while offering faster and lower-cost transactions.
Developers are free to build as they please on Pepe Unchained. They could create Play-to-Earn games, a perpetual exchange to leverage trade meme coins, a metaverse, or anything else.
For retail traders, meme coins are a lottery ticket to get rich quickly, so there will likely be queues around the block to use Pepe Unchained.
There are also features like staking, making it even more appealing.
Accommodating the hottest sector of cryptocurrencies, Pepe Unchained has every chance of becoming a leading Ethereum layer 2.
Right now, one of the top layer 2s is Polygon, which holds a $4 billion market cap. With that in mind, there’s a lot of upside potential for $PEPU, which has raised $7 million.
According to the 99Bitcoins YouTube channel, Pepe Unchained could “lead the next bull market rally.”
The analyst suggested that meme coins like Pepe Unchained have the most growth potential as the crypto market recovers.
Right now, investors can buy $PEPU at a discounted presale rate of $0.0089105.
However, this price will rise throughout the campaign.
So don’t miss out. Follow Pepe Unchained on X or join its Telegram for the latest updates. Alternatively, visit its website to buy and stake tokens.
Visit Pepe Unchained Presale
