Pepe’s momentum fades with a bearish analyst forecast, while new meme crypto Pepe Unchained raises nearly $10 million in presale.

After massive success through early 2024, Pepe’s momentum is dwindling. But to make things worse, a top analyst has just made a bearish prediction.

However, a new meme-themed crypto is arising and showing massive strength. Pepe Unchained is undergoing a presale and has raised almost $10 million so far.

Prominent trader eyes further price breakdown for Pepe

Pepe has recently been hit with non-stop selling pressure, but it might not be over yet. It’s currently trading at $0.000007879.

This represents an 8% increase today, but the price remains down 2% this week and 35% this month.

And zooming out a little more, Pepe bulls have suffered even worse.

Those who bought Pepe at its May all-time high (ATH) of $0.00001718 are now at a 54% loss.

Yet, according to leading analyst Nebraskagooner, its bearish momentum is far from over. The analyst compared Pepe’s current chart structure to that of Cardano.

It shows that Pepe is trading at a similar support that caused Cardano to plummet into deep waters once it broke below. Nebraskagooner’s price chart targets lows of around $0.000002 for Pepe.

Should this play out, it would result in a devastating 74% selloff from its current price. And for those who bought the top, it would mark an 88% selloff.

$PEPE

Here’s a possible scenario that would trigger if we see a monthly close below $0.000006669

Potential upthrust if that level is lost.

I’ve added the $ADA monthly chart in for comparison of similar structure during a previous run. pic.twitter.com/fdJLcivWQb

— Nebraskangooner (@Nebraskangooner) August 19, 2024

And Nebraskagooner is not the only analyst eyeing $0.000002.

Polaris_xbt also sees $0.000002 as a potential destination for Pepe before its next leg up can commence.

Indeed, these are losses that investors will be desperate to avoid. With that in mind, some traders are turning to alternative memecoins, which have their potential ahead of them.

For instance, Pepe Unchained is a new Pepe-themed memecoin currently undergoing a presale. It’s raised over $9.5 million so far, signaling massive interest from market participants.

Because it’s in its presale, PEPU is available at a fixed price. However, its price will be determined by supply and demand once it launches on exchanges. And according to analysts, this could lead to huge gains.

Pepe Unchained is the first memecoin with an L2 blockchain

Don’t mistake Pepe Unchained for an everyday Pepe imitation – it’s ushering in unique technology.

The Pepe Unchained presale will be the first Pepe-themed token with its own blockchain.  It’s building an Ethereum layer 2 that’s fast and low-cost.

Devs will finally have a playground designed specifically for memecoins. They could build memecoin-themed dApps, a Pepe-centric P2E game, or anything else.

And because it’s an Ethereum layer 2, moving liquidity to and from the Pepe chain will be effortless. Imagine the virality of Pepe with the utility of a layer 2 blockchain. That makes for huge potential.

Investors can also stake PEPU tokens for passive rewards. In a recent video, ClayBro said that all of this could make it a “top meme coin.” He also noted investors are rushing into the presale, which is a good sign.

“Pepe Unchained is positioning itself as the largest and the greatest presale going on right now, far surpassing any of the other memecoin,” he said.

The current Pepe Unchained presale price is $0.009163, but this will rise throughout the campaign. Per its website, the next increase will occur later today.

For more information, visit the Pepe Unchained presale website.