Exploring the Surge of meme coin Prices
meme coin prices are on the rise as retail investors continue to show a strong appetite for new meme coins. The question that arises now is: Could analyst pepe Unchained be the next catalyst for this surge?
Delving into the latest trends in meme coin prices, it's worth investigating whether $PEPU could potentially offer the most lucrative investment opportunity in the meme coin market for the third quarter.
Upon glancing at the leading meme coins, the initial impression might seem bleak for this sector. However, beneath the surface lies a different story. The total meme coin market cap has witnessed a $1 billion spike in growth over the past 24 hours, driven by an influx of nearly $750 million in additional trading volume.
Is Justin Sun’s TRON Fueling meme coin Growth?
A significant portion of the recent growth in the meme coin space can be attributed to a surprising 'TRON narrative.' This narrative gained momentum following the launch of 'SunPump' by Justin Sun, which is essentially a Pump.Fun clone allowing users to create 'shitcoins' for free, without the need to add liquidity.
Within the first 24 hours of SunPump's launch, an astonishing 4,844 meme coins were introduced to the market. This number has since escalated, with TRON's sector dominance hitting 7.46% of total cryptocurrency volumes in the last 24 hours.
Amid this 'Tron Narrative,' yesterday witnessed a remarkable milestone with 6,005 new meme coins minted through SunPump, generating a staggering $2.7 million in daily revenue for the network.
As of today, August 21, a further 2,362 meme coins have already debuted. It remains to be seen whether this volume surpasses the previous all-time high, or if the TRON narrative is starting to lose momentum.
One potential vulnerability in this narrative is TRON's relatively high transaction fees, nearing $2 per transaction, compared to ethereum's current record-low gas fees.
ethereum meme coins and the Impact of Low Gas Fees
As ethereum's gas fees plummet, there is growing anticipation that this could lead to a resurgence in trading activity on the second-largest blockchain, attracting retail investors.
One standout project in the realm of meme coins is pepe Unchained ($PEPU), which has garnered viral attention due to its potential to spark a 'frog coin' rally.
Central to this concept is pepe Unchained's primary initiative—a layer-2 blockchain for Pepecoin, transitioning it from the cumbersome ERC-20 layer-1. This development mirrors Shibarium's launch by shiba Inu in 2023, reigniting interest in SHIB.
With the launch of a dedicated frog coin layer-2 network, the $PEPU presale has already amassed an impressive $9.75 million in funding.
Don't miss out on this opportunity to explore and potentially invest in pepe Unchained amidst this exciting market movement.
