ApeCoin experiences a significant surge as a new project raises $21 million, leading many to speculate if it could become the next major player in the market. ApeChain, Bored Ape Yacht Club (BAYC), and Pepe Unchained are at the forefront of this development.
ApeChain, a layer-2 scaling solution, has recently been launched amidst the growing trend for customized Layer-2s. Its primary focus is on facilitating NFT development, minting, trading, and dApps. The launch of the highly anticipated “Bridge” by the Yuga Labs team, along with the activation of ApeChain, has caused a seismic shift in the BAYC community.
The ApeChain Bridge, although not technically groundbreaking, allows for the transfer of assets, including meme coins, onto the highly anticipated ApeChain platform. Initially, the bridge will connect ApeChain with Ethereum and Arbitrum. The most exciting aspect of this development is the introduction of native yields for APE staking, which will be paid out in Apecoin. This provides a much-needed utility for APE and helps validate the Ethereum-compatible ApeChain.
As Apecoin attempts to consolidate its recent gains, it is currently trading at a market price of $1.47, with a 24-hour change of -0.67%. After experiencing a +135% gain over the weekend and breaking out above long-time frame resistance, APE price seems determined to consolidate its newfound gains above the $1.44 price level. The moving averages indicate a bullish golden cross could be formed if APE bulls can maintain support.
While APE price targets consolidation with a potential ceiling at $1.8, downside risks exist if APE bulls lose control, potentially leading to a decline towards the psychological price level of $1. This leaves Apecoin with a risk-reward ratio of 0.53 in the short term, making it a less favorable entry point for FOMO traders.
Meanwhile, Pepe Unchained, the successor to Pepecoin (PEPE), has gained significant attention in the market with a market cap of $21.3 million. It has emerged as the preferred choice among meme coin traders due to its serious utility and upcoming high-speed Layer-2 blockchain designed specifically for meme coin development. To encourage growth, the Pepe Unchained development team has launched a grant fund to support meme coin developers with multi-million funding opportunities.
Whale investments in Pepe Unchained are increasing, with one whale acquiring 5 million $PEPU tokens for $50,000 earlier this month. Another whale exchanged $53,563 worth of ETH for 4.6 million $PEPU tokens on Monday. With the endorsement of top analysts and the involvement of whales, Pepe Unchained is being touted as the next big thing in the market.
Investing in the $PEPU presale offers the opportunity for a market-beating 105% APY, which can be done using Ethereum, USDT, or a VISA card. Engaging with the Pepe Unchained community on X and Telegram can help investors stay informed about the latest developments in the project.
Disclaimer: Cryptocurrency is a high-risk asset class, and this article is for informational purposes only and should not be considered investment advice. There is a potential risk of losing all invested capital.
