The past 24 hours have been brutal for meme coins. Dogecoin (DOGE) dropped 4%, while Pepe (PEPE) slipped 8%. However, a fresh contender, Pepe Unchained (PEPU), has defied the bearish trend, surging 86% after its Uniswap debut and capturing market attention.
DOGE Price Under Pressure, Breaks Key Support
Dogecoin fell to $0.39, a level not seen since November. Since Saturday's local high, DOGE has lost 19% of its value. The decline accelerated on Monday when the price broke a crucial trendline on the 4-hour chart. Spot trading volume dropped 27% in 24 hours, and leveraged long positions saw over $20 million in liquidations. Analyst Trader Tardigrade remains bullish, viewing the dip as a temporary setback, while some traders eye $0.37 as a potential bottom. If DOGE closes in the red today, it will mark its longest losing streak since September – three consecutive days of decline.
PEPE Retreats from All-Time High Despite Musk’s Meme Campaign
Pepe retreated to $0.000022 after hitting an all-time high of $0.0000282 just days ago, losing about 20% of its value. Despite the decline, the coin maintains an upward-sloping trendline that has been in place since late November, and 24-hour spot volume remains above $6.8 billion. Notably, Elon Musk continues to flood his X (formerly Twitter) feed with AI-generated Pepe memes from his Grok chatbot. The official PEPE account has been retweeting these posts, hoping to leverage Musk's influence, but the price has yet to benefit.
PEPU Launches with a Bang: 86% Surge, $170M Market Cap, 39,000 Holders
While DOGE and PEPE suffer, Pepe Unchained (PEPU) has become the star of the day. Following one of the largest meme coin presales ever, which raised over $70 million, PEPU debuted on Uniswap yesterday. The price shot up 86% within the first hour and, even after cooling, remains 53% above its starting price. In just 24 hours, PEPU generated over $25 million in trading volume, attracted 39,000 holders, and pushed its market cap above $170 million. The team has also locked nearly $4 million in liquidity, signaling long-term commitment. Rumors circulating in the project's Telegram channel suggest that major centralized exchanges (CEXs) may soon list PEPU, potentially driving trading volumes even higher. Popular crypto influencer Austin Hilton, who had been discussing Pepe Unchained on YouTube for weeks, tweeted “I told you” in celebration of the launch.
Capital rotation from established meme coins to new projects like PEPU is becoming evident. While the broader market faces headwinds, PEPU’s strong debut demonstrates that investor appetite for innovative, community-driven meme coins remains robust.