In recent developments regarding Pepe coin, holders are exiting the market following a weekend pump, leading to predictions of underperformance in the final months of 2024. At the same time, the layer-2 innovation, Pepe Unchained, has gained significant attention, positioning PEPU as a leading beta play in the market. This article delves into the reasons behind the anticipated underperformance of Pepe’s price in Q4 2024 and explores whether the new layer-2 innovation could offer better gains for meme coin investors.
Pepe’s price has experienced a dramatic dip from the weekend’s upside moves, causing fear among holders due to a fake-out style move. Despite posting an impressive +700% Year-To-Date return, there are significant concerns surrounding the top frog meme coin’s future prospects. The main issue lies in the fact that Pepe may be considered a victim of its own success, having achieved a high market cap of $4,374,740,779. While this might seem positive at first glance, a high market cap can limit future growth potential, making it challenging for Pepe to deliver significant returns to investors.
To illustrate this point, if Pepe were to achieve a modest 2x return, it would need to reach a market cap of $8,749,481,558, requiring an additional influx of $4.35 billion in capital. Comparatively, a coin with a $1 million market cap would need a much smaller investment to achieve the same 2x return. Therefore, it is unlikely that Pepe will be able to generate substantial gains such as 5x or 3x returns for investors in 2024, given its current market cap and potential for growth.
However, investors have the option to explore alternatives to Pepe, such as Pepe Unchained (PEPU), which is gaining traction in the market. With an $18 million market cap, PEPU is seen as a promising investment opportunity, potentially offering a 50x return compared to Pepe. The project is more than just a meme coin, as the team is developing a new Layer-2 network on top of Ethereum to create an ecosystem for meme coins. This network promises the security and efficiency of Ethereum combined with fast transactions and low fees, attracting smart money investors looking for the next big meme coin play.
To support the growth of the PEPU network, the team has introduced a grant initiative called ‘Frens With Benefits,’ allowing developers to apply for funding to build on the network. The grants can be used for the development of DeFi protocols, NFTs, GameFi products, and more, ensuring a thriving ecosystem for meme coin deployment. Additionally, the Pepe Unchained presale offers a staking mechanism for participants, providing a 122% APY return on staked tokens. By engaging with the Pepe Unchained community on platforms such as X and Telegram, investors can stay informed about the project’s progress and potential opportunities.
