Pepe unchained (PEPU) which is believed by many experts to be a perfect alternative to the frog-themed meme coin PEPE has crossed a major milestone with its Initial Coin Offering (ICO) raising over $3 million and the project getting its own layer 2 blockchain.
The $3 million was raised within the first few weeks of PEPU presale and the project has registered itself as one of the fastest growing assets in the industry.
The Pepe Unchained team announced its $3 million milestone on X thanking the industry for its support.
“Another chain broken! Pepe officially hits $3M! Thank you for the incredible support. The journey is just beginning.” PEPU team posted.
Layer 2 Blockchain
Pepe Unchained which serves as an alternative to Pepe the popular frog-themed 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 bridges Ethereum and Pepe Unchained while offering high staking rewards, lower trading costs, and fast transactions.
The launching of an L2 blockchain has attracted investors to the PEPU project because it is rare that a crypto project that is part of a memecoin ecosystem launches a layer 2 blockchain.
However, Pepe Unchained will have to deal with the high traffic on the Ethereum blockchain which has adversely affected popular Layer 2 blockchains like Arbitrium and Optimisims.
The high traffic on the Ethereum blockchain can often lead to congestion which affects the user experience of projects hosted on the blockchain.
Pepe Themed Tokens moving strong in the market
Pepe Unchained is part of the Pepe community which comprises other tokens inspired by Pepe the frog-themed memecoin. Members of the PEPE ecosystem include Pepe Unchained, Pepe 2.0, PepeFork, PepeCoin, and PeiPei also known as the Chinese Pepe.
Ethereum has been fingered by experts to be the catalyst for the next crypto market bull run given that the Spot Ethereum ETFs are slated to start trading mid-July. The Spot Ethereum ETFs are expected to attract a huge inflow from institutional investors leading to a bull run.
Ethereum-based memecoins like FLOKI and PEPE are expected to benefit from this Ethereum ETFs-led Bull run. PEPE’s bullish run will definitely rub off on its community leading to a surge in prices of other Pepe-themed memecoins including Pepe Unchained.
Several Analysts and Crypto YouTubers have predicted bullish trends for Pepu given its recent ICO performance.
Analysts at the Popular YouTube channel 99 Bitcoins have listed PEPU as a potential 100X memecoin following its presale performance.
What to know
- Pepe currently sits at number 27 on the list of the top crypto assets according to Coingecko. It has a market capitalization of $3.9 billion.
- Pepe is expected by analysts to be a major beneficiary of the Ethereum ETF-backed bull run pushing the asset up the ladder of memecoins potentially flipping Shiba Inu and Dogecoin.
