This article was paid for*
The blue-chip meme coin Pepe (PEPE) appears poised for a sharp upside move after breaching key resistance levels.
Prominent crypto analyst Nebraskangooner took to X (formerly Twitter) to highlight that the Pepe price has secured a breakout from a multi-week bull flag, a possible indication of major upside volatility in the coming days.
$PEPE
Is that a bull flag trying to break out?? pic.twitter.com/55jqM1TVYN
— Nebraskangooner (@Nebraskangooner) October 12, 2024
The Pepe coin is currently trading at $0.0000103, marginally down from Monday’s $0.000011 high. However, its recent price action indicates a strong likelihood of a bullish continuation, particularly with Bitcoin showing considerable strength.
PEPE’s rally provides the ideal backdrop for alternative frog meme coins to soar as well. It is not without any reason that a microcap meme coin – Pepe Unchained – has secured nearly $20 million in presale funding.
Will The Pepe Price Finally Rally To A New ATH?
Crypto majors have been teasing the bulls with choppy price action over several months, led by Bitcoin’s range-bound movement within a descending channel.
With BTC now attempting to break out of the upper trendline, it is no surprise that blue-chip meme coins like Pepe are showing bullish strength.
The Pepe price is currently outperforming all key moving average indicators while having a healthy Relative Strength Index (RSI) in the daily, weekly and monthly timeframes, technical analysis data from TradingView reveals.
Aside from the aforementioned bull flag breakout, PEPE is also trading within a descending channel. Experts highlight that a breach of the upper trendline could potentially trigger the next bullish leg, resulting in the Pepe price trading above the $0.00005 mark.
I called bottom of the giga $pepe pump but now look at the structures here vs last https://t.co/AcVnI9wQCu pic.twitter.com/4O8LzKauD7
— Astekz (@astekz) October 14, 2024
However, the meme coin sector remains strongly correlated with Bitcoin. After a double bounce from the 99-day Smoothed Moving Average, the BTC price is looking to secure a weekly close above the $66k – and eventually $68k – resistance levels.
A rejection from these levels could result in more choppy price action. However, the rising global market liquidity and strong ETF inflows would likely be enough for Bitcoin to hit a new all-time high in the coming weeks, paving the way for the highly-anticipated meme coin supercycle.
Is It Too Late To Invest In Meme Coins Like Pepe?
The Pepe coin is a blue-chip meme coin, with a relatively large $4.3 billion market capitalization. However, are blue-chip meme coins still in fashion?
Indeed, sidelined investors are wondering whether it is too late to earn outsized returns from large caps like Pepe.
Prominent crypto investors like Max – with 55k X followers – project that PEPE is still highly undervalued, expecting it to peak at a $50 billion market cap.
$Pepe is getting ready to fly. Did you pack your bag, did you fade the King Frog? 50B is written in the stars. pic.twitter.com/nlNT7CEfOE
— Max (@MaxBecauseBTC) October 14, 2024
Others like Spuro are anticipating another 8x upside move from the meme coin, projecting a new all-time high $32 billion valuation.
However, whether these predictions pan out remains to be seen. For now, low-cap meme coins clearly show a greater propensity to reach the $1 billion mark compared to the chances of large-cap coins attaining multi-billion valuations.
It is no surprise that smart money investors – particularly those hunting for 100x gains – are investing in microcaps.
Pepe Unchained Nears $20 Million In Presale Funding – Best Crypto To Buy Now?
Few projects have capitalized as much on the demand for new meme coins as Pepe Unchained (PEPU).
It is not without any reason that it is nearing the $20 million mark in presale funding, making it one of the most successful ICOs of 2024.
As such, frog meme coins are in high demand, especially with smart money investors viewing them as beta bets on Pepe. Their bull thesis is quite straightforward – tokens like Apu Apustaja, PepeCoin and PeiPei will soar once PEPE pushes towards new highs.
However, Pepe Unchained is creating its own mark in the meme coin sector, backed with in-demand utility and attractive monetary perks.
For instance, the project is set to launch a Layer-2 scaling ecosystem on Ethereum, designed specifically for meme coin trading. With the Ethereum ecosystem losing out on mind share to Solana, Base and Sui, PEPU’s L2 chain is already creating quite a buzz amongst experts as a potential saving grace.
Pepe Unchained L2 Sneak Peek!
What we're building is not just a new chain, but an entire ecosystem.
Pepe Unchained L2Block ExplorerDEXBridgeAdvanced AnalyticsBuilder Grants
Pepe Unchained is coming. And it's going to shake up the crypto space. pic.twitter.com/ZVnvgO6MGF
— Pepe Unchained (@pepe_unchained) September 26, 2024
Additionally, PEPU buyers can stake their coins in the project’s native staking protocol, which is currently offering an APY of 112%.
Owing to its unique value proposition, Pepe Unchained has caught the attention of whales, smart money investors and prominent crypto influencers.
Considering that PEPU is a low-cap token, some investors are even eyeing 100x returns from it in the upcoming meme coin supercycle.
Visit Pepe Unchained Presale
*Cryptonomist did not write the article or test the platform.
