Layer 2 Meme Coin Pepe Unchained Surpasses $40 Million Presale Level

Meme coins continue to enjoy strong showings in the market, with the likes of Pepe and Floki posting especially good gains. One meme coin, of sorts, that looks set to join them despite still only being in the presale stage of its development, is Pepe Unchained.

PEPU has amassed more than $40 million in funding, which is a significant level, and with 20 days left before the presale ends, it has every chance of surpassing $50. Its presale performance has led to many calling it the next 100x coin.

Meme Coins

When it comes to the most profitable coins meme coins have been leading the way since the US election results were in. In truth, they had already enjoyed a solid 2024. A pure meme coin has no utility  - it is built to trade on a meme, joke, or iconic image, typically from the Internet. Their price is driven primarily by market sentiment, with those coins with the most active communities being the ones to rise to the top.

Meme Coin Performance

Pepe has risen 1,500% since the start of the year and more than 100% in the past month following the recent announcement that it will be listed on Coinbase. Floki has seen significant gains of its own, rising more than 600% since the turn of the year and more than 60% in the last month.

The king of all meme coins, Doge, has enjoyed a comparatively subdued year, up less than 400% since the start of 2024, but the excitement caused by Elon Musk’s political ascendancy has seen it gain more than 200% in the last month. 

A Meme Coin But More

Compared to these pure meme coins, Pepe Unchained is a little different. It does feature the green frog, Pepe, as its main logo, and it has the garish artwork that is typical of this type of coin. But, Pepe Unchained is a layer 2 network that has been developed on the Ethereum network.

It introduces new protocols that aim to speed up and reduce the cost of transactions made on the network. It has the aim of becoming the network of choice for future meme coins, and even recently announced The Pepe Unchained Pump Pad which enables users to launch their own meme coins in just a few clicks.

Potential

Pepe Unchained has reasonably well-balanced tokenomics. 30% of the 8 billion tokens will be given as staking rewards. 10% are being used for marketing. 47.5% have been assigned to project development. The rest will be used for liquidity and chain inventory. The layer 2 blockchain is set for launch at the end of the presale, which is now less than 3 weeks away, and investors can still enjoy the impressive 121% staking APY on offer.

There isn’t a lot of public information about the team behind the coin, but it has already garnered a lot of interest in and outside the crypto community, which bodes well for a strong start. 

Conclusion

Pepe Unchained is joining a list of already successful meme coins and hopes to emulate the performance of its namesake coin. Pepe was launched in April 2023. It joined a flagging market, but the popularity of the Pepe meme saw it surpass expectations and made some hopeful investors a lot of money in a very short space of time.

Pepe pretty much single-handedly pulled the meme coin market back from the brink and it has gone from strength to strength ever since. When it does launch, it will be hoping to take over from Solana, which has seen considerable meme coin action in recent months.