Reason to trust
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Amidst growing uncertainty, the crypto market has suffered a major blow in the past week, with Bitcoin (BTC) falling 26.60% to $51,079.00, and other top cryptocurrencies following suit. This has been especially apparent in the meme coin space.
Pepe (PEPE) fell 26.89% over the last 24 hours, all the way down to a price of $0.000006148 per token. This is further exacerbated by the ongoing selloff with daily trading volume growing 132% to $1,832,002,039.
Meme Coin Giants Come Crashing Down
Tokens like PEPE have been falling the whole week, with Pepe losing 49.83% of its value over the week, and no clear bottom in sight. Despite previous growth, the token is down 24.90% over the past month.
However, many X (Twitter) personalities are still bullish on the token, with many experts expecting PEPE’s price to bounce back up. However, when and if that’ll happen remains to be seen.
🐸💚$PEPE 🐸 REMAINS MY BIGGEST CONVICTION IN THIS BULL RUN DESPITE THIS CRUSH 💥
I WILL CONTINUE DCAING TILL THE RIGHT TIME TO TAKE PROFITS 🚀🚀👆🏼 pic.twitter.com/sN6DkhNuGz— Zaka Crypto🐸 (@ZakaCrypto) August 4, 2024
The rest of the meme coin space isn’t doing too well either, Dogecoin (DOGE) has fallen 21.15% to a price of $0.08443 over the last 24 hours with the likes of SHIB and BONK falling around 20%.
However, Pepe-inspired coins have been especially affected by the crash. Brett (BRETT) has fallen 26.00% to a weekly loss of 54.24%. Despite the Base blockchain continuing to grow, its mascot is having a hard time finding its footing in the market. With that being said, a lot of long-term investors see potential in the coin and are entering the market with massive investments.
Im documenting my entry’s now for proof. $BRETT will hit 50B+ soon and when it does I’ll be rich.
Nothing makes me happier than $BRETT dips, this was bought within the last 24h at its lowest pic.twitter.com/ICeHlSG4kH
— Jack Blaze 🏴☠️ (@CabinBoyCrypto) August 4, 2024
Why is the Market Crashing?
While experts are uncertain what exactly is causing the crash, there are a few negative factors that are certainly influencing it.
One part is downward momentum starting on August 5th started by the German government and now-inoperable Mt. Gox exchange. Mt. Gox collapsed in 2014, and started distributing over $9 billion BTC to creditors, creating a large selling pressure in the market.
The German government, which held a large amount of BTC, started selling over 16,000 BTC- worth almost $100,000,000. Both of these factors led to a significant increase in Bitcoin supply, leading to its price falling.
Compounding on this, the global stock market- which the crypto market is correlated to, is having issues. Over $879 billion has been wiped out from the US market in the last week, and Japan’s Nikkei 225 index had its second-worst daily performance since 1987 dropping 12%.
On top of this, instability and conflict are major detriments to the price of assets perceived as “risky” such as Bitcoin, and even more so- meme coins. The US unemployment rate is growing, with a conflict between Iran and Israel brewing as political tensions intensify.
However, while market trends are powerful forces, sometimes a coin has enough potential to grow regardless of downturns.
One such coin could be Pepe Unchained, which is nearing the $7.5m mark in its ongoing presale, potentially defying the bear market.
Pepe Unchained ICO Keeps Rising Despite Market Conditions
Pepe Unchained (PEPU) is a brand new layer 2 blockchain focused on meme coin development. The aim is for it to provide users with 100x faster speeds than ETH, small transaction fees, and a dedicated block explorer.
Despite the market crash, PEPU has managed to grow its presale past $7 million selling at $0.00875 per token-, showing massive investor interest and confidence. A significant portion of these funds went into the staking program, which with a 266% P/A allows investors to more than double their token holdings over a year.
Pepe Unchained has passed two security audits by Coinsult and SolidProof to ensure the security of investors’ funds.
This combination of Pepe-inspired memetic appeal and real utility makes experts incredibly bullish on PEPU. The token has the likes of 99Bitcoins – a YouTube channel with over 700,000 subscribers following all its developments – calling it the “next Pepe” and expecting 10x returns.
Is PEPE UNCHAINED The Next 10X Meme Coin? $PEPU Raises $4,000,000
There is less than one day until the next price increase, making investors act fast to get PEPU at its current price.
