Bitcoin Hits New Highs as Dogecoin, Pepe, and Newcomer Pepe Unchained Soar, with $26m Raised for a New Ethereum Layer 2 Meme Coin Ecosystem

Bitcoin is in uncharted territories today and top meme coins are also soaring. Dogecoin and Pepe have pumped 23% and 6.3%, respectively.

Bitcoin price action continues to surprise to the upside, and so too are top meme coins such

DOGE, Pepe, and a new Ethereum Layer 2 blockchain for meme coins called Pepe Unchained has already raised $26 million for its presale.

Here’s the latest.

DOGE, Pepe Price Action Surges As Meme Coin Market Nears ATH

The meme coin market capitalization is about to create a new all-time high, driven by the rapid rise of Dogecoin, Pepe, and other similar tokens.

This marks a significant trend in the ongoing market cycle. While 2021 was kind to meme coins, the fundamentals are stacking up even stronger this time around.

Dogecoin is leading the way with a massive 23% pump today. It’s currently trading at $0.28, and is up 85% for the week and 154% for the month.

Prominent analyst Ali Martinez notes that DOGE has broken a macro resistance trend line, and is speculating that it is “about to go parabolic.”

Martinez is using the Fibonacci Retracement tool to gauge potential areas of interest, and notes that key levels range between $3.95 and $23.26. These are admittedly unrealistic targets, but it goes to show the exponential nature of meme coin prices in bull markets.

#Dogecoin $DOGE is about to go parabolic! Based on historical patterns, a potential top might lie between the 1.618 and 2.272 levels, translating to a price range of $3.95 to $23.26. pic.twitter.com/FqvC3AEF7o

Next up is Pepe, which is currently trading at $0.00001199, up 4.5% today, 46% for the week, and 21% for the month.

Pepe has created a higher high and higher low on the price chart, indicating that momentum is shifting bullish after a downtrend from its May ATH.

Similar to the massive price targets for DOGE, traders are also highly bullish on Pepe.

For example, Waleed.eth points to a target above $0.19, which is over 15x its current price.

Waleed.eth notes that Pepe is breaking key macro levels, paving the way for strong gains.

ive been talking about how bullish $pepe is for at least 3months now. you will realise why soon. credit; @Crypto_Scient pic.twitter.com/NPpMGy2S4K

But while Dogecoin and Pepe are rallying, a new market entrant is causing a buzz with an Ethereum Layer 2 blockchain for meme coins.

Pepe Unchained Raises $26M For L2 Meme Coin Ecosystem

Investors are eager to get into the Pepe Unchained presale.

The project has raised over $26 million so far, indicating an unprecedented market appetite.

So what is it? As the name suggests, they’re building an Ethereum Layer 2 blockchain for meme coins. It will be 100x faster than Ethereum and significantly cheaper.

Pepe Unchained L2 Sneak Peek!

What we're building is not just a new chain, but an entire ecosystem.

🐸Pepe Unchained L2🐸

Block Explorer

DEX

Bridge

Advanced Analytics

Builder Grants

Pepe Unchained is coming. And it's going to shake up the crypto space. pic.twitter.com/ZVnvgO6MGF

With these enhanced transaction capabilities, Pepe Unchained unlocks many use cases that are not possible on the main network.

For example, they recently unveiled the Pepe Pump Pad, a new meme coin generator that allows users to create joke tokens without any coding, similar to Solana’s Pump.fun platform.

Meme coin generators have high transaction volume, which is why a similar concept has not taken off on Ethereum, where fees would eat into profits.

This is just one example of how Pepe Unchained aims to make the Ethereum ecosystem the center of the meme coin space. And with Ethereum’s DeFi and liquidity infrastructure, it has the resources to do just that.

Analysts believe that the Pepe Unchained token (PEPU) has massive potential. Umar Khan predicts it could 100x.

The analyst suggests that this could be a better Pepe alternative for higher gains in the crypto bull market.

Currently, the PEPU price is $0.01249, but this is set to increase in under 24 hours.

To learn more, visit the Pepe Unchained presale.