Why is Ethereum dropping? Whales have taken pump positions for these two coins as an alternative to ETH.

The Ethereum (ETH) price has experienced a significant price drop recently, along with the broader cryptocurrency market. There is a concern among investors about whether this downward trend will continue.

The question of why Ethereum is falling is also being widely wondered. One of the biggest reasons is the SEC's decision.

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the exchange-traded fund (ETF) proposed by crypto asset management firm Hashdex, which would directly hold spot Bitcoin and Ethereum. According to a filing released on Friday, the agency said it would extend the deadline to make a decision on approval, disapproval, or initiation of proceedings until September 30, 2024.

It was reported that this decision had an impact on Ethereum falling below $2,600. With the drop in ETH, whales began to turn to two alternative coins.

Pepe's Own Layer 2 Blockchain Creating Pepe Unchained Exceeds 8 Million Dollars

Pepe Unchained (PEPU) is a unique example of an Ethereum meme coin that runs the popular Pepe meme on its own Layer 2 network. The fact that the fund of those who buy Pepe Unchained tokens reached 8.2 million dollars is also a great success.

With the use of Layer 2 technology, PEPU is trying to optimize blockchain efficiency and transaction capacity. This positions itself as a cryptocurrency ready for significant growth in the market.

Pepe Unchained meme coin, whose stock listings are eagerly awaited, has gained significant popularity as a token inspired by Pepe, positioning itself as a significant competitor in the meme coin market.

The project provides staking opportunities for those who buy Pepe Unchained tokens. It uses Layer 2 technology to provide significant advantages such as generous staking rewards with over 230% APY and low transaction fees.

With a significant portion of the token supply allocated to stake rewards and the additional advantage of lower transaction costs on the mainnet, PEPU exhibits promising potential for price increase. Among the various Pepe-based tokens currently available, it is worth noting that Pepe Unchained stands out due to its unique blockchain.

Developers have created a Layer 2 chain on the Ethereum network to free tokens from the restrictions applied to other cryptocurrencies launched in the Ethereum ecosystem. Even if Ethereum 2.0 is upgraded soon, the network is still considered slow and transaction fees remain significantly higher than those of other advanced blockchains. This is where Pepe Unchained comes in.

In addition, Pepe Unchained's Layer 2 chain is also serving as a new ecosystem for emerging tokens, along with a dedicated blockchain explorer to track transactions.

As can be understood from the impressive fund raised in just a few weeks since the start of the presale, investors are very excited about this project.

The price of the PEPU token, which can be purchased for only 0.0090178, is increasing in stages. Therefore, it is recommended that interested investors take their place in the pre-sale before the price increase.

Rapidly Expanding Olympic-Themed Meme Coin The Meme Games on Whales' Radar

Those who buy Meme Games token are seen as the best choice for those who want to join the GameFi trend. It focuses on the 2024 Summer Olympics and offers a special way to reward early investors who participate in the presale.

The project has a roster of five iconic meme coin characters: Pepe, Doge, Brett, Turbo, and Dogwifhat. When investors purchase tokens in the presale, they can predict which one will win a '169-meter race'. If the investor predicts correctly, they will earn an additional 25% bonus on their purchases during the presale event.

Each meme character has a 20 percent chance of winning. This ensures fairness and makes the game more about fun and luck than skill. There is no requirement for a minimum purchase. Therefore, investors can play the game by dividing their investments into smaller purchases during the presale process. This benefits investors because it averages their chances of selecting the winner.

So far, The Meme Games (MGMES) has generated revenue of over 356,000 dollars in pre-sales, indicating increased investor interest. The MGMES token is currently trading at a price of $0.0092 per token, but this price will increase tomorrow. Early investors have the opportunity to purchase the token directly through the official pre-sale website.

In addition, investors also have the opportunity to earn an annual yield rate (APY) of over 580% by staking tokens during the presale. Currently, the amount of MGMES in the token pool has exceeded 17.3 million. However, it is important to be aware that the stake APY will decrease over time. As the token pool expands, the APY amount will also decrease.

Analysts' expectations for the MGMES token are increasing due to the platform's other features.

The pre-sale will continue until September, coinciding with the end of the 2024 Paralympic Games, and MGMES will make its first debut on DEX on September 10, 2024.

Disclaimer: This is a sponsored content and press release, and what is written here does not reflect the views of Kriptokoin.com team. High loss risks must be taken into account in leveraged trading and cryptocurrency investments, and comprehensive research should be conducted before investing in any platform.

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