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While Dogecoin has lost around 13 percent of its value in the last seven days, making it one of the weakest top 10 cryptos, the fundamental starting position appears constructive. On-chain data reveals a return of crypto whales. With the current price of 0.11 US dollars, a technically promising setup could beckon.
Meanwhile, Pepe Unchained has recently shown relative strength. The presale of Pepe Unchained has reached a total of over 17.75 million US dollars, making it one of the largest presales of the year. Regardless of the current market situation, PEPU attracts capital here. The idea of your own meme layer 2 is creating a lot of imagination in the community.
Dogecoin shows strength: whales are betting on a rally
The Number of Large Transactions metric refers to the number of transactions on the network that involve a significant amount of a cryptocurrency. This metric indicates interest from major investors. An increase in large transactions often signals impending price movements as large investors potentially build positions in a cryptocurrency.
According to leading crypto analyst Ali Martinez, the increase in large Dogecoin transactions indicates activity from institutional players and whales preparing for a possible upward move. These transactions may be a signal that larger investors have confidence in future price increases. When institutional money flows into the market, a larger price movement often follows. The changed activity could therefore encourage a price rally.
The number of large #Dogecoin transactions on the network continues rising, which suggests institutional players and $DOGE whales are positioning themselves for a potential upside move. pic.twitter.com/aTL6AXK9Hw
— Ali (@ali_charts) October 5, 2024
According to another post on X, Dogecoin is on the verge of a potential price move. A crucial price level could determine the future trend. Analyzing the “In/Out of the Money” metric provides insight into at which price ranges investors realize profits or losses. This data helps identify support and resistance zones.
According to analysis by crypto expert Ali Martinez, about 60,210 addresses purchased Dogecoin worth 36.4 billion DOGE at a price of around $0.11. If Dogecoin fails to regain this price level, sales could occur. Then investors would limit their losses. This could trigger a larger price drop. A successful breakout above this price level would be a crucial signal of a possible trend reversal to the upside.
Currently, Dogecoin is in a critical phase as the price is close to this important level of $0.11. A technical decision could be made soon. If the price climbs above this level and trading volume increases, this could promote a strong bullish scenario. Such a setup, where hedging strategies are also easy to implement, would offer investors the opportunity to benefit from further upward movement.
60,210 addresses bought 36.40 billion $DOGE at $0.11! #Dogecoin must reclaim this level soon to sustain a bullish outlook. Otherwise, a failure to do so could lead to a sell-off as investors may seek to minimize losses. pic.twitter.com/BABwVfPGem
— Ali (@ali_charts) October 3, 2024
Pepe Unchained over $17.75 million – what’s behind the hype?
Meanwhile, Pepe Unchained is a new project in the crypto space that combines two important trends in 2024: the development of Layer 2 solutions and the ongoing hype around meme coins. The project has already raised almost $18 million in presale. By leveraging Ethereum-based Layer 2 technology, Pepe Unchained provides a solution to one of the Ethereum network’s biggest problems: high transaction fees and slow settlements. Fast and cost-effective transactions are a decisive advantage, especially with meme coins, which are often traded with high frequency.
In addition, Pepe Unchained has launched a funding program to promote the development of applications on its Layer 2 blockchain. The “Pepe Frens with Benefits” grants program supports developers who want to realize innovative projects in the areas of dApps, NFTs and DeFi on the platform. This approach not only contributes to the further development of the ecosystem, but also increases the demand for the native token PEPU. Every new application increases the attractiveness of the platform.
While many meme coins rely solely on short-term hype, Pepe Unchained takes a more long-term approach. By integrating advanced blockchain technology into the meme coin ecosystem, the project creates a sustainable foundation for success. This is also reflected in the vision to develop a comprehensive ecosystem that includes a decentralized exchange (DEX) and a blockchain explorer. Through the DEX, users can trade PEPU and exchange it for other cryptocurrencies, while the explorer ensures transparency of transactions.
Pepe Unchained therefore combines the entertainment value of meme coins with the technological advantages of a scalable blockchain. With a targeted developer program and a powerful infrastructure, the aim is to build an ecosystem for meme coins.
If you are interested in PEPU, visit the website and find all the information there. To purchase, investors connect the wallet and then exchange ETH/USDT/BNB for PEPU.
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