It’s been a tough few days for Pepe and Dogecoin holders.
Both coins have dipped into the red this week as market conditions take a turn for the worse.
Yet while these established meme coins struggle, presale project Pepe Unchained is continuing to impress – passing the $50 million mark ahead of its first exchange listing.
Meme Coin Giants Take a Beating as PEPE & DOGE Lead Market Slide
Pepe and Dogecoin have taken a serious hit this week.
PEPE dropped 14% in just the last 24 hours, now trading around the $0.0000174 level.
DOGE hasn’t fared much better, sliding 13% to $0.36 and seeing its market cap shrink to $54.2 billion.
But it’s not just these two coins that are seeing a sell-off.
It’s a sea of red in the meme coin space, with MOG being hit the hardest, losing 20% of its value in a single day.
Overall, the meme coin market’s value has pulled back to $106 billion, signaling that the recent hype around these coins might be cooling a bit.
Spot trading volumes remain high – but that suggests traders are cashing out their earlier gains.
And the drop in open interest for PEPE and DOGE backs up this shift in sentiment.
So, after weeks of explosive growth, the meme coin sector seems to be finally taking a breather.
Crypto Market Turns Red as Bitcoin ETFs See Largest Outflow Since Election
The meme coin slump isn’t happening in isolation – it’s part of a broader cooldown in the crypto market.
Bitcoin has slipped 6% to $91,600, and other top altcoins, such as ETH, SOL, BNB, and XRP, are all deep in the red.
In the past day, the total crypto market cap is down 7%.
What really stands out, though, is the massive outflow from spot Bitcoin ETFs.
They just recorded their largest single-day withdrawal since Trump’s election win, with $438 million pulled out.
BREAKING: Yesterday the Spot #Bitcoin ETF saw $438.38 MILLION OUTFLOW! pic.twitter.com/r0HvW4c6OD
— Crypto Rover (@rovercrc) November 26, 2024
That’s a massive turnaround from a few days ago when the market was hyped over record-breaking inflows of $1 billion.
Still, not everyone is hitting the panic button.
Many analysts see this pullback as nothing more than healthy profit-taking after Bitcoin’s climb towards $100,000.
And while the ETF outflows might look unsettling, the bigger picture tells a different story: total net inflows still sit at $30.4 billion.
This shows that institutional interest in crypto hasn’t really wavered.
Pepe Unchained Defies Market Downturn & Shatters $50M Milestone Ahead of Upcoming Exchange Debut
While the rest of the crypto market is bearish, Pepe Unchained is breaking the mold.
The project has now raised over $52 million in presale, cementing its spot as one of the biggest meme coin launches ever.
With just 17 days left until exchange listings and PEPU tokens available for $0.01295 each, it’s got everyone – from retail investors to industry pros – paying attention.
However, it’s not just the presale numbers that make Pepe Unchained stand out.
Pepe Unchained L2 Sneak Peek!
What we’re building is not just a new chain, but an entire ecosystem.
Pepe Unchained L2
Block Explorer
DEX
Bridge
Advanced Analytics
Builder Grants
Pepe Unchained is coming. And it’s going to shake up the crypto space. pic.twitter.com/ZVnvgO6MGF
— Pepe Unchained (@pepe_unchained) September 26, 2024
It’s also the team’s bold vision: bring meme coin innovation back to Ethereum.
They have set their sights on disrupting Solana’s hold over the meme coin space by developing a new Layer-2 network called Pepe Chain.
The goal is to enable fast, low-cost meme coin trading while tapping into Ethereum’s security and liquidity.
A critical feature of this Layer-2 network is the Pump Pad.
This feature is designed to make meme coin creation accessible to everyone and is inspired by Solana’s popular Pump.fun platform.
Several top crypto experts have praised Pepe Unchained’s setup.
For example, ClayBro released a video yesterday in which he claimed that the PEPU token could “make millionaires” once it was released.
Clearly, the hype is building around this new meme coin project.
And despite the uncertainty in the broader crypto market, Pepe Unchained continues to go from strength to strength.
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