Dogecoin and Pepe prices fall but Pepe Unchained raises over $40 million as it nears exchange listings

Dogecoin and Pepe have taken a hit over the weekend, with both coins seeing pullbacks after last week’s run-up
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Posted by Advertorial November 25, 2024 3 Mins Read
Dogecoin and Pepe have taken a hit over the weekend, with both coins seeing pullbacks after last week’s run-up

Dogecoin and Pepe have taken a hit over the weekend, with both coins seeing pullbacks after last week’s run-up.

Meanwhile, the new meme coin project Pepe Unchained is growing in presale, raising over $40 million ahead of next month’s exchange debut.

Dogecoin price dips despite strong spot trading volumes

DOGE holders have faced a tough few days, with the coin’s price sliding to $0.427 – its first significant pullback after a week of bullish momentum.

The weekend dip reached its biggest point on Sunday when DOGE’s price was down 16% before bouncing back slightly.

Despite the setback, trading activity remains high.

Dogecoin’s daily spot volumes are still around $10.6 billion in the last 24 hours, making it the fifth most actively traded cryptocurrency worldwide.

However, it hasn’t been smooth sailing for leveraged traders, with more than $21 million in long positions getting liquidated since yesterday.

Not everyone sees doom and gloom in DOGE’s price action, though.

Popular crypto analyst KrissPax points to DOGE’s broader technical picture, suggesting this dip is a temporary speed bump.

According to his analysis, the coin remains within an upward channel on the 4-hour chart, setting the stage for another upward leg as the week unfolds.

PEPE joins broader meme coin selloff & falls 10% over weekend

PEPE has also taken a hit in the past few days.

The frog coin has tumbled to $0.0000201 as sellers dominated weekend trading. 

PEPE’s 10% drop has effectively erased several days of gains, pushing its price back to last Thursday’s level.

Trading activity for PEPE has also cooled off, with spot volumes dropping 27% in the past day.

The declining open interest – down 8% since yesterday – suggests traders are stepping back to reassess their positions.

Notably, the selloff isn’t isolated to DOGE and PEPE.

Nearly every major meme coin is seeing red, with SHIB, BONK, and WIF all posting losses over the weekend. 

Only PNUT has managed to stay in positive territory over the past 24 hours.

Still, most traders aren’t hitting the panic button just yet.

After the recent extended rally in meme coins, many view this pullback as a natural cooling-off period rather than a sign of deeper trouble ahead.

Meme coin trader Murad even speculated the market is still in “pre-parabolic accumulation rectangles” – suggesting he expects further price increases.

Pepe Unchained raises $40M in presale as first exchange listing approaches

While DOGE and PEPE weather a tough patch, Pepe Unchained continues to gain traction in its presale phase.

The project has raised over $40 million in early funding, with PEPU tokens available at a fixed price of $0.01295 each.

However, this price will only be available for another 18 days before the presale ends.

After that, PEPU will make its debut on an exchange.

While specifics about the initial listing have yet to be announced, Pepe Unchained’s team has taken steps to ensure stable conditions by setting aside 7.5% of the supply for liquidity.

One of the main reasons for all the excitement around Pepe Unchained is its utility.

Rather than focusing on pure meme appeal, the team is developing a new layer-2 blockchain network just for joke coins.

According to Pepe Unchained’s whitepaper, the “Pepe Chain” will offer faster and cheaper transactions than Ethereum.

It’ll also have a built-in DEX and a “Pump Pad” for creating meme coins in two clicks.

This mixture of meme culture and technological innovation has helped Pepe Unchained build a sizable online following.

The project’s Telegram channel now has over 16,000 active members.

Several popular crypto influencers, including Austin Hilton, have also reviewed the PEPU token.

With an open market launch just weeks away, investors are monitoring Pepe Unchained’s progress, despite the dips in established meme coins.

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