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Mid-cap memecoins surge despite a flat crypto market, led by Pepe Unchained, raising $18M for its Ethereum layer 2.
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The crypto market is treading water this week – but mid-cap memecoins don’t care – they’re going parabolic.
Amid this hype lies Pepe Unchained (PEPU), a trending presale token that has raised $18 million in funding.
Pepe Unchained is developing the world’s first Pepe-themed Ethereum layer 2 blockchain.
The mass rotation: Traders sell large-cap memecoins for mid-caps like Pepe Unchained
The crypto market has experienced an unusual reshuffling as memecoin majors dip while mid-caps see unparalleled inflows.
This comes just one day after chatter about Goldman Sachs’ risk-adjusted return analysis, which compared the returns-to-volatility of assets like Bitcoin, Ethereum, gold, indices, and oil.
The report found that Bitcoin was beaten by gold on risk-adjusted returns, causing investors to rethink Bitcoin’s financial “safe haven” narrative.
However, investors have seemingly applied this risk-adjusted returns thesis to the joke token sector.
It’s no secret that lower market cap projects can grow faster due to the lesser liquidity needed to pump their prices. At the same time, even large-cap memecoins are highly volatile and, therefore, risky investments.
As such, traders are taking bets on mid-caps, which also carry high risk but have much more room for growth.
Every top 10 memecoin is in the red today, yet spades of mid-caps are up double-digits.
Some mid-caps are even on a vertical ascent – SPX6900, for example.
The project has risen by an eye-watering 6,000% in the past month, which Lookonchain reports has already made some savvy traders millions of dollars.
Other mid-cap memecoins, such as GigaChad, HarryPotterObamaSonic10Inu (ERC-20), and MAGA, are all up over 80% this week.
Meanwhile, First Neiro On Ethereum has risen 3,400% this month, and Moo Deng (SOL) is up 350%.
Yet, amid this mid-cap memecoin awakening, Pepe Unchained is causing an unparalleled buzz.
The project’s ICO has raised $18 million, and the team is building an Ethereum layer 2 blockchain for memecoins.
This concept will see memecoins have a dedicated home on Ethereum for the first time – and it will be 100x faster and much cheaper than the Ethereum main network.
And it’s not just investors who support the new project. Top crypto traders are backing it for significant returns, too.
Analysts say that Pepe Unchained will see “major gains” and possibly 100x
With over $18 million of capital inflows to its presale, Pepe Unchained is generating a lot of attention.
Leading media outlets like CryptoPotato, Cointelegraph, and Watcherguru have reported on it, and leading traders have also picked it up.
In a recent video, Claybro told his 130K YouTube subscribers to prepare for major gains.
He highlighted that deep-pocketed whales are participating in the presale, spotlighting one 23 ETH purchase worth a staggering $57K.
Indeed, smart money would not be willing to bet so much money if the project didn’t have huge potential.
How much potential? Given its early stage, that’s hard to say. However, 100x gains should not be ruled out.
That’s the target of Umar Khan, a well-known figure who regularly appears on the 99Bitcoins YouTube channel.
On the flip side, some analysts are a lot more conservative, with Cilinix Crypto recently speculating it has 5x potential.
Pepe Unchained to launch developer grants program in Q4
Pepe Unchained is far more than your average mid-cap memecoin.
Separating itself from the likes of SPX6900, First Neiro On Ethereum, and Moo Deng, Pepe Unchained has innovative and game-changing utility.
While tapping into Pepe’s viral allure, the project’s layer 2 blockchain could change how users interact with meme coins.
The team is doubling down on this with a developer grant program, which will launch in Q4.
They’re calling it “Pepe Friends With Benefits,” and it will pay developers to build within its ecosystem.
A fast-growing ecosystem will likely attract more users and liquidity, thereby bolstering the PEPU price.
Nestled between meme coin and utility coin, Pepe Unchained is unlike anything else on the market.
And at a time when mid-cap memecoins are thriving, the Pepe Unchained exchange debut could be a huge event.
Currently, investors can buy PEPU for $0.00994, but this price is expected to rise throughout the presale.
For more information, visit the Pepe Unchained presale website or join the community X on and Telegram for the latest updates.
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This article first appeared at crypto.news
