The frog-themed meme coins are stealing the spotlight once again.
The Pepe price is seeing a significant bullish reversal today on Tuesday after the “Black Monday” crypto crash.
The meme coin is up by over 30% from yesterday’s bottom, trading as high as $0.0000081. The Pepe coin is currently trading at $0.0000079 at press time, with a market capitalization of $3.2 billion.
PeiPei - also known as the Chinese Pepe - is also up by more than 40% in the past 24 hours.
Some smart money investors now believe that Pepe Unchained could be one of the next meme coins to explode. PEPU has already raised over $7.4 million in its presale and could potentially offer up to 100x returns, owing to its low market cap.
Is It a Good Time to Buy Pepe and PeiPei?
Today’s crypto relief rally only proves what smart money investors believe about Pepe. The top frog-themed meme coin acts as leveraged ETH and shows a high correlation with the Ethereum price.
Thanks to a 13% recovery in Ethereum, the Pepe price has bounced back by over 30% since yesterday’s crypto crash.
This bodes well for the Pepe coin in the long term, considering that experts believe Ethereum to be highly undervalued. Indeed, ETH is trading nearly 50% below its all-time high. Consequently, experts believe that Pepe’s market capitalization could peak at $50 billion during this bull cycle, especially once the altcoin rally starts.
However, this could also mean that the meme coin will see some correction in the coming days, considering analysts believe that the bottom may not be in just yet for Ethereum.
The Pepe price could retest its 50-week EMA at $0.0000061 or the 50-week SMA at $0.0000051. A high volume bounce from these levels could present excellent buying opportunities for sidelined investors.
On the contrary, PeiPei appears poised for a bullish continuation. Popular crypto trader Eunice D Wong (@Eunicedwong) believes that PeiPei has also formed its local bottom and could push towards new highs in the coming weeks.
$PEIPEI bottomed - still have my bag 💼 pic.twitter.com/4N7SB5HvHU
— Eunice D Wong 🦄 (@Eunicedwong) August 6, 2024
PeiPei is trading at $0.0000002 at press time, with a market capitalization of $81 million. It is currently 51% below its previous all-time high, which it could retest in the coming weeks.
Why Pepe Unchained Could Be The Next Meme Coin To Explode?
Frog-themed meme coins are in high demand. However, most such tokens are simply Pepe copycats that display pump-and-dump price action.
However, Pepe Unchained (PEPU) has managed to separate itself from the crowd, impressing smart money investors in the process. The meme coin is launching its own Layer-2, ETH-compatible chain, with the aim of offering low trading costs and high staking rewards to investors.
Most new Ethereum meme tokens see marginal retail investment because of the high trading costs on the blockchain. On the contrary, PEPU’s low transaction costs and attractive staking rewards tackle this issue head-on.
In fact, early Pepe Unchained buyers are currently enjoying a reward rate of over 260%. Unsurprisingly, the new meme coin has raised over $7.4 million in its presale. Even popular crypto publications such as CoinMarketCap, Techopedia and Binance Square have covered the project’s strong early demand.
Smart money investors are also bullish on PEPU’s post-launch growth potential. Some analysts have even suggested that it could offer up to 100x returns after its IEO.
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