Explore the latest ENS Price Analysis and discover why top performer Ethereum Name Service could see its 3-month rally muted by an impending token unlock.. Also, discover the viral PEPU presale.
Crypto prices remain volatile at press time. Last week’s bears still have an influence, but buyers have been flowing in.
In the case of ENS, prices are stable at press time, changing hands at $24.75.
I 5x-ed my initial $ENS position size during the dip
I'd recommend seeing if it breaks above $26, and if it does, look for the retest of that area for a confirmed entry.
Target 2x-3x from current price. pic.twitter.com/D7FDfsp5t2
— Suen (The Art of Crypto) (@_theartofcrypto) July 8, 2024
ENS Price Analysis: What’s Next for ENS Crypto?
Despite Ethereum crashing over the past few weeks, ENS remains one of the top performers.
Here’s why: After the drop to April lows, ENS is up 100% in three months. By early July, the token was changing hands at multi-month highs, soaring above $34 to register fresh 2024 highs.
The uptrend remains at spot rates, especially after the sharp reverse of July 5’s losses over the weekend.
(ENSUSDT)
For now, the primary support is at $18. If buyers sustain prices above this line, then the uptrend of the last three months will remain.
In that event, the long lower wick of July 5 may serve as the catalyst that lifts prices to new 2024 highs. Before then, there are concerns.
The ENS Foundation will release 937,500 ENS tokens worth over $21 million at current spot rates.
As with all token unlocks, this release will profoundly impact ENS’ market dynamics, increasing circulating supply and likely slowing down the uptrend momentum.
Only time will tell whether ENS prices will drop, consolidate, or surprise everybody by rallying.
Some traders are not waiting and are actively considering top-performing alternatives like PEPU, the meme coin by Pepe Unchained.
Pepe Unchained: A Blue-Chip Meme Coin
Analysts are convinced, Pepe Unchained is special. While drawing lessons from Pepe, a leading Ethereum meme coin, they are taking a new route.
They plan to launch a meme coin-centric layer-2 platform on Ethereum.
As expected, layer 2 will offer fast transactions, translating to low fees and therefore incentivizing users and developers to trade and deploy, taking advantage of Ethereum’s security.
According to estimates, this layer-2 will be at least 100X faster than the mainnet.
They are not leaving anything to chance. So far, Coinsult and SolidProof have audited and confirmed that Pepe Unchained’s smart contracts are secure and transparent.
Investors are pouring in.
In the ongoing Pepe Unchained presale, over $2.7 million has been raised.
Moreover, PEPU is trading at a massive discount that everyone cannot miss.
Users can buy PEPU using USDT, ETH, and their debit/credit card for just $0.0083258.
PEPU investors can also stake, receiving a 690% APY, which is way higher than the market mean.
Considering the offer, over 231 million PEPU have been staked as of July 8.
Once PEPU launches in top exchanges, experts predict the meme coin will outshine the relatively more liquid PEPE, and ENS will lag far behind.
Pepe Unchained is gradually building its community in the ongoing viral presale.
There are over 4,700 followers on X and nearly 5,000 Telegram members.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
