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The meme coin market is booming again and some of the hottest coins, such as Pepe (PEPE) and Shiba Inu (SHIB), are leading the way.
Once considered a fad, these meme coins are now gaining serious traction among investors. As PEPE and SHIB continue to rise, the crypto community is now wondering which meme coins could lead the next bull run.
PEPE and SHIB Lead the Meme Coin Rally
PEPE saw an impressive 15% surge in the last 24 hours. After weeks of trading within a tight range between $0.0000071 and $0.0000081, PEPE aims to test the crucial $0.0000109 resistance level.
If it can break above its immediate resistance mark, the meme coin could test the $0.000012 level in the coming sessions. This recent momentum partly comes from strong community support and rising market interest in meme coins.
It’s worth noting that PEPE’s price increased by around 26% in the past week. This was primarily due to recent support from well-known crypto figure Arthur Hayes.
Per a recent Lookonchain tweet, Hayes pointed out he “cannot neglect Pepe Coin” in an expected meme coin breakout rally. This has brought some attention to PEPE as it jumps back into the limelight.
According to blockchain analytics platform Lookonchain, Hayes withdrew 24.39 billion $PEPE (valued at approximately $252,680) from Binance. This withdrawal has sparked more investor interest in PEPE as major players in the crypto space continue to rally behind the token.
On the other hand, SHIB also saw quite an impressive comeback. On September 26, SHIB surged to its two-month high after witnessing more activity on its Layer-2 network, Shibarium.
The token’s price jumped to $0.000017, which coincided with a major uptick in on-chain activity. Shibarium’s transaction fees jumped to 438 on September 26, up from a low of 27 earlier in the month—a nearly 1,500% increase.
Shibarium’s fees increased because the network had more transactions going through the Layer-2 protocol. There had been only 2,186 new transactions since the beginning of the month, but on September 26, there were 8,025 new transactions.
This increase in network usage also has implications for SHIB’s tokenomics. Higher Shibarium fees mean that a portion of the revenue collected in BONE is converted to SHIB and then burned.
According to data from Shibburn, Shiba Inu’s burn rate jumped by 19,930% in the last 24 hours, with around 1,881,699,401 tokens being burned.
In the meantime, Pepe Unchained is another meme coin that’s reaching new milestones amid this meme coin rally.
Is Pepe Unchained the Next Meme Coin to Explode?
Pepe Unchained wants to redefine how meme coins work by adding a Layer 2 blockchain built for speed, security, and scalability.
The $PEPU token powers this ecosystem and goes well beyond the idea of a traditional meme coin. It aims to offer real utility through high staking rewards and fast transactions.
Early buyers currently have an exciting opportunity to get in before the $PEPU token price rises in the next round. You can buy $PEPU for just $0.00986 in the current phase.
The project has already raised over $15 million, showing huge investor traction.
It’s worth mentioning that Pepe Unchained’s groundbreaking Layer 2 blockchain will go live right after the presale.
This Layer 2 approach not only speeds up transactions and lowers fees, but it also gives $PEPU holders double staking rewards.
Early buyers can get a high APY of over 130% at the time of writing. However, this rate will decrease as more investors join the staking pool.
Interested buyers can join Pepe Unchained’s Telegram group and follow its X account to receive the latest presale updates.
Visit Pepe Unchained Presale
Source: https://finbold.com/pepe-and-shiba-inu-prices-surge-will-this-meme-coin-explode-next/