CatSlap +20%, Pepe +7% as ETH Outperforms Bitcoin
As ETH begins to significantly outperform BTC, traders are shifting liquidity to the Ethereum meme coin.
Today, new meme coin CatSlap and ecosystem superstar Pepe are up 20% and 8% respectively.
ETH breaks out against BTC
Today, the Ethereum ecosystem is on fire, and Ethereum’s strong performance relative to Bitcoin has injected vitality into its memecoin space.
Ethereum is long overdue for a rebound after recently hitting its lowest valuation against BTC since 2021.
However, this appears to be a macro bottom for ETH, with analyst Pentoshi stating that it will continue to appreciate (both against the USD and Bitcoin) in the coming weeks.
Currently, ETH is trading at $3,600, up 16% this week, while Bitcoin is at breakeven.
However, traders who have noticed ETH’s surge are taking advantage of it by investing in its ecosystem meme coins.
If ETH continues to accumulate value, we can expect liquidity to flow into the ecosystem, and the high volatility of meme coins makes it an attractive asset class during bullish times.
Ethereum ecosystem tokens such as the Ethereum Name Service, Ethena, Uniswap, and Aave have all made significant gains in the past 24 hours.
However, as is often the case, the lion’s share of trading volume comes not from these tokens, but from memecoins. Pepe handles more than $3 billion in transaction volume in 24 hours — more than Ethena, Uniswap, and Aave combined.
CatSlap braces for 418% rally
New Ethereum Meme Coin cat paw It is about 20% higher than the recent support area and is now approaching a rebound with a price target of $0.012, which is 418% higher than the current price.
The project is a new cat-themed meme coin on the Ethereum blockchain, rumored to be launched by the team behind Dogwifhat.
This has not been confirmed yet, but the team has solid skills and understanding of the market.
Not only did they launch a meme coin, CatSlap also offers a gamified experience called CatSlap Slapometer, as well as a staking mechanism that offers 40% APY.
Maobiyuan is underrepresented in the cryptocurrency space, with a market capitalization of $5.3 billion. By comparison, the Dogecoin market is worth $90 billion. There’s no doubt that CatSlap is hoping to achieve some big results and close the gap.
With a market cap of $19 million, there’s plenty of room for upside.
Investors can buy cat paw Use the DEX widget on their website or use best wallet App features upcoming tokens.
Pepe leads the way in memes
Pepe is stealing the spotlight today as the leading large-cap meme token, up 7.9% today.
This was followed by Ethereum-based meme coin Mog Coin, which rose 5.5%.
As mentioned before, Pepe is also seeing heavy trading volume today, which usually indicates that the price will rise. This shows that there are many willing buyers in the market, and once sellers are exhausted, they tend to keep flooding in.
Pepe is the most traded meme coin today besides Dogecoin.
Meme coins’ new home on Ethereum
CatSlap and Pepe have shown strong demand, but soon – most meme coins will not be released directly on the Ethereum main network – they will be released on a new Ethereum layer 2 called “Ethereum Layer 2” Pepe is liberated.
Pepe Unchained, which will launch within two weeks of the start of the token pre-sale, will cut costs and enable transaction speeds 100 times faster than the main Ethereum network.
The Pepe chain will be accessible through Ethereum wallets, so users can easily transfer funds and start trading Meme coins.
It will also come with Pepe Pump Pad, a meme coin generator that allows users to create meme coins in just two clicks. This is expected to boost ecosystem activity and solidify Pepe Unchained’s status as an Ethereum meme hotbed.
this Pepe Unchained pre-sale It’s ongoing, so investors can join now and take advantage. The pre-sale raised $52 million, nearly three times the amount raised by Ethereum’s 2014 ICO.
