Meme coins are surging once again, outperforming the rest of the crypto market as majors like Bitcoin and Ethereum suffer losses. Meme coins across Ethereum and Solana are up more than 7% in the last 24 hours, with an 18% gain in trading volume as traders rush into the space.
That’s created opportunities not only in large-cap meme coins like $BRETT, $WIF, $BONK, and $PEPE, but also in emerging meme coins with low market caps and small but devoted communities.
We’ll take a closer look at this week’s meme coin pump and highlight a new token, Pepe Unchained, that has the potential to be the next explosive meme token.
Top Meme Coins Surge Higher as Trading Volume Explodes
Nearly all of the top 10 meme coins are moving higher today. $PEPE posted a gain of 15%, $WIF jumped 16%, and $BONK moved 12%. Base meme coin $BRETT beat them all, shooting nearly 25% in the last 24 hours alone.
Other meme coins making moves greater than 10% in the past day include $BOME, $MOG, $POPCAT, and $TRUMP.
The moves are accompanied by a surge in trading volume, indicating a large move by traders into the meme coin space. Volume in $PEPE, for example, is up to $950 million, up from just $350 million earlier in June. $BRETT is seeing $70 million worth of tokens moved, compared to $20 million just 3 days ago.
The excitement is palpable around Crypto Twitter, where traders and analysts are posting about the shift in momentum and sharing news about gains from their favorite tokens. Many are openly mocking Bitcoin, Ethereum, and utility altcoins, which have underperformed meme coins since the start of the year and look like they’ll be left behind again in this move higher.
We pumping meme coin and we don’t care WTF is #BTC✌️✌️✌️🔥🔥🔥🚀🚀🚀😆😂😅 pic.twitter.com/L79IDDRaR0
— Lamatrade (ลาออกมาเทรด) (@Lamatrade1) June 24, 2024
The surge in meme coin value doesn’t have a clear catalyst. There have been no major economic releases, announcements in the crypto community, or surges in Bitcoin in the past 24 hours.
However, it’s possible that traders saw an opportunity after meme token prices had broadly fallen over the past week. Prior to today’s surge, $PEPE was down 30% in June. $WIF had fallen 55%, and many other meme coins popping today had suffered similar losses.
Analysts predicted that the decline was a temporary consolidation rather than a sustained downturn. One analyst, Danii, noted that the downturn was the ideal buying opportunity for traders with strong stomachs.
Buy when others are fearful 🔥🩸
— Danii (@CryptoJardani) June 24, 2024
Send those markets up 🚀 https://t.co/AK46QDSZaE
Analysts calling for a rapid rebound now appear to have been correct. If the current momentum continues, meme coin losses earlier in June could be viewed as a springboard towards new all-time highs.
Could Pepe Unchained be the Next Meme Coin to Explode? Presale Raises $700k in First Week
The electrifying action in the meme coin market has created opportunities for new tokens as well as large-cap meme coins. One token taking advantage of the tailwind is Pepe Unchained, which launched its presale earlier this week. Pepe Unchained has raised $700,000 in sales of its $PEPU token as traders pile into what many think could be the next 10x meme coin.
Pepe Unchained gives the Pepe meme its own blockchain network—a major contrast to $PEPE, which is built on Ethereum. The new Pepe Unchained network offers ultra-low transaction fees and instant bridging to Ethereum, making it an outstanding alternative chain for traders who want to avoid Ethereum’s high fees.
The Pepe Unchained network also beats Ethereum on speed. As a Layer-2 network, it offers transaction validation roughly 100x faster than Ethereum while still benefiting from Ethereum’s robust proof-of-stake security model.
The $PEPU presale offers traders a chance to get in on the latest iteration of this incredibly hot meme coin at the lowest possible price. Right now, the presale is still in its early stages and is offering tokens at a price of $0.0080641. Traders can buy $PEPU with $ETH, $USDT, or $BNB.
As an added incentive to jump in soon, $PEPU purchased during the presale can be staked for 2,990% APY. That’s a generous passive return that ensures traders who buy Pepe Unchained will have full bags when the token launches for trading.
