Many experts believe that Pepe unchained (PEPU) is the perfect alternative to the frog-themed PEPE coin, which has passed a significant milestone with its initial coin offering (ICO) raising over $3 million and the project getting its own layer 2 blockchain.
$3 million was raised within the first few weeks of the PEPU presale and the project has registered itself as one of the fastest growing assets in the industry.
The Pepe Unchained team announced their milestone of raising $3 million on X, thanking the industry for its support.
“Another broken chain! Baby officially hits $3 million! Thank you for the amazing support. The journey has just begun.” PEPU team posted.
Layer 2 blockchain
Pepe Unchained, which serves as an alternative to the popular frog-themed Pepe the frog memecoin, has launched its own layer 2 blockchain.
PEPU’s new blockchain is compatible with Ethereum, making mass adoption and interoperability easier. The L2 blockchain connects Ethereum and Pepe Unchained while offering high staking rewards, lower trading costs, and fast transactions.
The launch of the L2 blockchain has attracted investors to the PEPU project because it is rare for a crypto project that is part of the memecoin ecosystem to launch a layer 2 blockchain.
However, Pepe Unchained will have to deal with the high traffic on the Ethereum blockchain which has negatively impacted popular layer 2 blockchains like Arbitrium and Optimisims.
High traffic on the Ethereum blockchain can often lead to congestion that affects the user experience of projects hosted on the blockchain.
Pepe Themed Tokens See Strong Market Activity
Pepe Unchained is part of the Pepe community which includes other tokens inspired by the Pepe the frog memecoin. Members of the PEPE ecosystem include Pepe Unchained, Pepe 2.0, PepeFork, PepeCoin, and PeiPei, also known as the Chinese Pepe.
Ethereum will be the catalyst for the upcoming crypto bull market, experts have suggested, as Ethereum-based ETFs are set to start trading in mid-July. The Ethereum-based ETFs are expected to attract massive inflows from institutional investors, leading to a market rally.
Ethereum-based memecoins like FLOKI and PEPE are expected to benefit from this rally led by Ethereum ETFs. PEPE’s rally is sure to impact its community, driving up the prices of other Pepe-based memecoins including Pepe Unchained.
Many analysts and crypto YouTubers have predicted bullish trends for Pepu given its recent ICO performance.
Analysts at popular YouTube channel 99 Bitcoins have listed PEPU as a potential 100X memecoin following its presale performance.
What you should know
According to Coingecko, Pepe is currently ranked 27th on the list of top crypto assets. It has a market cap of $3.9 billion. Analysts expect Pepe to be the main beneficiary of the Ethereum ETF-fueled rally, pushing the asset up the memecoin ladder that could upend Shiba Inu and Dogecoin.