Ethereum

Pepe

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PeiPei, a Pepe derivative meme coin on the Ethereum blockchain, has exploded in price recently, rising by more than 45% in the last 24 hours.&nbsp;
Is this surge a sign of the token’s potential, or is this another hype-fueled pump that will disappear within a few days?&nbsp;
This article analyzes this project, highlighting its potential and whether it can become the next Pepe.&nbsp;
<h2 dir="ltr" id="span-what-is-peipei-span">What is PeiPei?</h2>
PeiPei's official website describes it as a frog with a twist on the existing Pepe token. Deep red in color and donning a straw hat, this project is influenced by Pepe and Chinese culture.&nbsp;
PeiPei boasts no utility and is not associated with Pepe the Frog. It simply says it pays homage to Matt Furies and his creation, Pepe the Frog.&nbsp;
Furthermore, the project has a 0% buy-and-sell tax, which indicates its community-centric nature.
<h2 dir="ltr" id="span-peipei-goes-trending-on-coinmarketcap-span">PeiPei Goes Trending on CoinMarketCap</h2>
Due to the recent increase in the PeiPei price, the token has made it to the top 5 most trending cryptocurrencies on CoinMarketCap.&nbsp;
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Launching in early June of this year, PeiPei’s initial entry into the market was quite volatile. After reaching $0.00000014, it dropped and bounced repeatedly. In late June, when the token bottomed at $0.000000052, it surged again to reach $0.00000027.&nbsp;
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The token trended sideways until today, when it experienced an increase of more than 45%. At the time of writing, PeiPei is trading above the $0.00000033 mark and has a market capitalization of more than $134 million.&nbsp;
<h2 dir="ltr" id="span-peipei-roadmap-span">PeiPei Roadmap</h2>
Because PeiPei is a no-utility token designed to only capitalize on (and pay homage to) Pepe, it has created a simple roadmap with three phases.&nbsp;
Phase 1 was concerned with the token’s launch, accumulating more than 690 holders and listing PeiPei on CoinGecko and CoinMarketCap.&nbsp;
The second phase is ongoing, and PeiPei is currently striving to partner with other meme coin projects and influencers. It is also pushing for exclusive holders' content and community hang-out events.&nbsp;
CEX listing is part of this phase, which has already happened as PeiPei is live on MEXC, BitMart, Poloniex, LBank, and Gate.io. DEX users can use Uniswap to buy PeiPei.&nbsp;
<h2 dir="ltr" id="span-peipei-price-analysis-span">PeiPei Price Analysis</h2>
PeiPei is a community-centric meme coin, allowing it to ride the community-driven hype and move up on the price charts.&nbsp;&nbsp;
At the time of writing, PeiPei is up 1728% from its launch price. Its RSI stands at 67.6, which is dangerously close to the overbought zone, and that indicates a drop will be coming soon.&nbsp;
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However, putting these technical aspects aside, PeiPei has shown potential as a short-term asset. Popular crypto YouTuber <a href="https://www.youtube.com/@Perry8k" target="_blank" rel="noopener noreferrer nofollow">Matthew Perry</a> made a video about it four weeks ago, in which he detailed the reason investors shouldn’t “sleep on this Chinese Pepe.”&nbsp;
<iframe width="1200" height="675" src="https://www.youtube.com/embed/ccYGO5mxvQk" title="WOW!!! #PEIPEI Coin Could Honestly Be The Next #PEPE Coin!!!" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
The YouTuber, with over 224k subscribers, highlighted that the volume-to-market cap ratio, which was $77 million at that time, was around 20%.&nbsp;
“It shows the level of popularity of this token,” the YouTuber said.&nbsp;
<h2 dir="ltr" id="span-peipei-price-prediction-span">PeiPei Price Prediction&nbsp;</h2>
Given that PeiPei is a no-utility meme coin, here are the short-term and long-term predictions for the project.&nbsp;
<h3 dir="ltr" id="span-short-term-price-prediction-span">Short-Term Price Prediction</h3>
We are more than halfway through 2024. For the remainder of the year, the PeiPei price will depend on how much engagement it can generate within the crypto community. With over 15.5k followers on Twitter, it could maintain its momentum with a healthy amount of posts and interactions with the community.
However, the token is already showing a surge, and given that it is close to crossing the overbought point of 70, it will likely drop in price. If the community is strong enough, they might be able to keep PeiPei afloat around the same level it is now.&nbsp;
That said, some crypto influencers have made more bullish predictions about PeiPei. Thunder tweeted recently that PeiPei’s price has entered discovery mode, stating that PeiPei’s market capitalization can potentially reach anywhere between $200 million and $300 million.&nbsp;
<blockquote class="twitter-tweet">
 <a href="https://twitter.com/search?q=%24peipei&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$peipei</a> entered price discovery mode clear skies above, send it <a href="https://t.co/a1SCU7Xr6h" target="_blank" rel="noopener noreferrer nofollow">https://t.co/a1SCU7Xr6h</a> <a href="https://t.co/dIdGUGXRhL" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/dIdGUGXRhL</a> — thundr (@thunderdegen) <a href="https://twitter.com/thunderdegen/status/1810987496249119224?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 10, 2024</a>
</blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h3 dir="ltr" id="span-long-term-price-prediction-span">Long-Term Price Prediction</h3>
The long-term price action for PeiPei will depend on how sturdily it maintains its position as a Pepe derivative. Even though it is banking on Pepe’s popularity to gain traction, in the long term, paying homage to the old frog token won’t be enough.&nbsp;
Much like Shiba Inu carved its own niche after staying under Dogecoin’s shadow as a derivative, PeiPei must also create its own community. This may only be possible if this Pepe derivative introduces its own use cases, offering long-term value.
If that becomes a reality and the community continues to remain engaged, PeiPei could experience an exponential increase in the long term.&nbsp;
<h2 dir="ltr" id="span-peipei-is-good-but-pepe-unchained-is-better-span">PeiPei is Good, but Pepe Unchained is Better</h2>
PeiPei's “homage” to Pepe is limited to painting the entire frog red and drawing a straw hat on its head. With no additional utility or USP, this meme coin feels more like a copy of Pepe rather than an homage.&nbsp;
However, there is another crypto, like PeiPei, that wants to overtake Pepe but does so by providing a utility-driven ecosystem.
<img src="https://cdn.thebittimes.com/images/2024/07/10/bc78062d9643a3f7c01a633fd1755d14.webp" width="624" height="624" style="display: block; margin-left: auto; margin-right: auto;">
It is known as <a href="https://cryptofinance.care/b_pepeunchained-en_98064?referrer=new-pepe-derivative-peipei-explodes-in-price---next-pepe-potential" target="_blank" rel="noopener noreferrer nofollow">Pepe Unchained</a>, and it has created its own layer 2 blockchain to make it a reality.&nbsp;
This project leverages its layer 2 blockchain to “unchain” itself from the confines of Ethereum. The official whitepaper explains that it offers perks like faster transaction speeds, lower gas fees, and double staking rewards.&nbsp;
Double staking rewards are especially beneficial for presale investors who can buy and stake their tokens. At present, investors will not only be able to buy Pepe Unchained (PEPU) at a discounted price, but also stake their tokens and earn more than 600% APY.&nbsp;
Crypto influencer Matthew Perry has also commented on Pepe Unchained, citing <a href="https://www.youtube.com/watch?v=PWoUYztgB7I" target="_blank" rel="noopener noreferrer nofollow">the token's own blockchain</a> as the reason behind his bullishness for the project.&nbsp;
<a href="https://www.youtube.com/@99Bitcoins" target="_blank" rel="noopener noreferrer nofollow">99Bitcoins</a>, another leading crypto YouTuber with over 705k subscribers, has given an even more bullish stance. One of their latest videos discussed how Pepe Unchained can save the day now that Pepe is crashing.&nbsp;
<iframe width="1200" height="675" src="https://www.youtube.com/embed/KH6TEryad_0" title="PEPE IS CRASHING (100X GEM) BUT THIS MEME COIN WILL SAVE THE DAY - Buy Pepe Unchained" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
Those who want to invest in Pepe Unchained can visit the official website - <a href="https://cryptofinance.care/b_pepeunchained-en_98064?referrer=new-pepe-derivative-peipei-explodes-in-price---next-pepe-potential" target="_blank" rel="noopener noreferrer nofollow">pepeunchained.com</a>. To keep up with the project’s development and engage with its community, we advise following the project’s <a href="https://x.com/pepe_unchained" target="_blank" rel="noopener noreferrer nofollow">Twitter</a> and <a href="https://t.me/pepeunchained'" target="_blank" rel="noopener noreferrer nofollow">Telegram</a> accounts.&nbsp;
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/new-pepe-derivative-peipei-explodes-in-price-next-pepe-potential-tbt96325.html">https://thebittimes.com/new-pepe-derivative-peipei-explodes-in-price-next-pepe-potential-tbt96325.html</a>

New Pepe Derivative PeiPei Explodes In Price - Next Pepe Potential?

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TheBitTimes

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