However, new investors hoping to generate similar profits with the frog-themed coin will likely be disappointed.
Why is Pepe price slowing down?
PEPE price reached an all-time high of $0.00001718 in May 2024. However, its value has since fallen by approximately 40%. This decline signals a change in dynamics. While altcoins are generally backed by utilities, meme coins have no relevant purpose. They depend on hype cycles and community support to generate value. This, in turn, makes them more vulnerable to rapid price fluctuations. Pepe is no exception to the trend.
The project is inspired by the Internet sensation “Pepe the Frog”. As the website clearly states, it serves no purpose. Although Pepe’s market cap is now over $3 billion, the coin community views Pepe as lukewarm. Being largely saturated, it does not have the potential to trigger an explosive trip.
Spotlight wirePepe’s all-time price action. Source: CoinMarketCap.
Dogecoin and Shiba Inu also failed to spark action. Their current sale prices are nearly 80% below their all-time highs. They hold stronger positions due to their brand value, but are still overshadowed by new meme coins.
Solana-based meme tokens like Bonk and Dogwifhat, for example, took some attention away from Pepe earlier this year. Being purely speculative, Pepe has little appeal to long-term investors. In a niche where investors are constantly looking for the next big thing, Pepe could lose even more weight. Here, novelty is more valued. The emergence of coins like POPCAT and NEIRO demonstrates how quickly interest is evolving within the market. The volatile environment is more fertile for new coins, leaving established coins like Pepe struggling to regain their former glory. So here’s a closer look at two new meme coins that are capturing the market’s attention.
1. Pepe Unchained (PEPU)
Pepe Unchained ($PEPU) is one of the most popular meme coins this month. The PEPU token presale has already surpassed the $25 million milestone and the community has expanded to over 40,000. Twitter (now X) members and over 10,000 Telegram members.
Crypto influencers have also joined the buzz. Channels like 99Bitcoins (with over 700,000 subscribers) have highlighted Pepe Unchained. The project’s community appeal and real-world utility are its biggest selling points.
Pepe Unchained is a coin project supported by technological innovation. Layer 2 networking is specifically designed for meme coins. It can potentially increase transaction speed and reduce transaction costs by processing transactions off the main chain.
Layer 2 technology has long proven useful in reducing network congestion during bull markets. Large chains like Ethereum often face slow speeds and high fees, leaving investors struggling. Popular Layer 2 networks like Polygon and Arbitrum have helped alleviate the problem to some extent.
Spotlight wireHowever, high trading volumes and rapid price changes in the meme coin market require a more dedicated solution. Pepe Unchained’s secondary chain aims to meet the specific needs of the meme coin market. According to the website, Pepe Unchained L-2 is expected to launch once the presale ends.
Although Pepe Unchained doesn’t plan to simply ride the wave of hype, it has focused on creating a fun online presence.
“Welcome to the world of PEPE Unchained, where the legend of Pepe meets cutting-edge layer 2 blockchain technology. Get ready to experience double the passive rewards, double the Pepe, and 100x the fun! Prepare to free Pepe from his old constraints and dive into a realm of incredible rewards and endless laughter,” the website states.
For degenerate and long-term investors, PEPU is one of the new crypto tokens to watch out for.
Visit the Pepe Unchained presale
2. Flockerz (TROOP)
Flockerz ($FLOCK) is a bird-themed coin. However, he refuses to be another boring coin here to take his chances. Instead, it focuses on establishing its relevance beyond playful bird-inspired branding. FLOCK’s pre-sale has already surpassed the $1 million mark.
Flockerz is building a decentralized ecosystem where the real decision-makers are the community members themselves. Here, power is not concentrated in the hands of a few leaders at the top.
Flockerz aims to create a flock bonded by community values. It puts its users in control with a unique vote-to-win model that encourages active participation. It rewards members with $FLOCK tokens for the votes they cast. The more engaged community members are, the more they earn.
Spotlight wireMany coin projects collapse due to centralization of power. When governance is tightly held by a few developers or managers, the consequences can be dramatic. The theft of $15 million from the Pepe ecosystem remains a prime example.
Flockerz recognizes the power imbalance through FlockTopia DAO. With this unique governance model, the project stands out in the crypto space.
Can Flockerz make true decentralization a reality and not just a promise? It remains to be seen. Since the strength of meme coins like Dogecoin, Shiba Inu, and Pepe lies in their community, Flockerz is one of the top cryptocurrencies to watch right now. The project’s philosophy of decentralization could resonate with Degens.
In addition to vote-to-win rewards, Flockerz has reserved 25% of the token supply for passive rewards. With another bull market potentially on the horizon, the Flockerz presale is moving forward quickly.
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