Polygon Price Dives 17% In A Week Amid POL Migration As Layer-2 Rival Pepe Unchained Surpasses $11 Million

The Polygon worth dived extra 17% within the final week following a 4% 24-hour loss to commerce at $0.4415 as of 11:38 p.m. EST as merchants hold exerting promote stress on the token.

🧵 POL Improve | The whole lot to Know 🧵

Customers w/ MATIC on Ethereum can improve immediately by way of Polygon Portal Interface: https://t.co/Ibs1ONels1

There is no such thing as a deadline for customers to improve. All MATIC on Polygon PoS & staked MATIC on Ethereum will improve mechanically on Sept 4. pic.twitter.com/qKnyYFrlqH

— Polygon | Aggregated (@0xPolygon) August 27, 2024

The drop within the MATIC worth comes as Polygon converts its native token to the brand new POL token. MATIC holders on Ethereum are already capable of swap their tokens for POL by means of the Polygon Portal. No motion must be taken by MATIC holders on the Polygon chain or holders of staked MATIC, as their tokens shall be mechanically swapped on Sept. 4.

The Polygon Value Resting On A Essential Assist Degree

4-hour chart for MATIC/USDT (Supply: TradingView)

The Polygon worth has been buying and selling in a descending channel following a collection of decrease lows and decrease highs over the previous few days. Now, the altcoin is resting on the important thing assist stage at $0.4230. Ought to it drop under this technical security web inside the subsequent 24 hours, the crypto might stand the chance of plunging to the next mark at $0.3875.

Nonetheless, MATIC sustaining a place above the $0.4230 assist stage for the subsequent 24 hours might invalidate the bearish thesis. On this different situation, the Polygon worth would possibly try to flee the bearish channel it’s at present trapped in.

Technicals Recommend Bulls Are Combating For Management Of The Polygon Value

From a technical perspective, indicators on MATIC’s 4-hour chart recommend the altcoin might rise by means of the course of the subsequent buying and selling day. Extra particularly, the Shifting Common Convergence Divergence (MACD) and the Relative Power Index (RSI) indicators recommend the bearish momentum is weakening. 

RSI readings have risen all through the previous 24 hours, which merchants normally see as a sign of sellers dropping energy in opposition to patrons. What’s extra, the RSI is closing in on its Easy Shifting Common (SMA) on the 4-hour chart. An intersection between these two traces quickly might sign that bulls have gained management of the Polygon worth.

In the meantime, the MACD line has began to stage off under the MACD Sign line. The prior can be rising in the direction of the latter, which suggests MATIC’s destructive pattern could be coming to an finish.

As MATIC makes an attempt to exit its bearish channel, layer-2 meme coin Pepe Unchained (PEPU) continues to tug buyers in as its presale raises over $11 million.

Unlocking A Turbocharged PEPE

Pepe Unchained (PEPU) is on a mission to raise the favored PEPE meme coin to the subsequent stage. Though PEPE has managed to climb the crypto ranks to change into one of many largest meme cash by market cap, its potential is being restricted by the congested Ethereum blockchain. PEPE holders are at present pressured to cope with excessive transaction charges and sluggish occasions.

Via its layer-2 community, Pepe Unchained will break PEPE’s Ethereum shackles and provides the meme coin its personal chain that can allow it to thrive. Not solely will the brand new and improved PEPE be 100 occasions sooner than its predecessor, transaction charges may also be slashed to a fraction of what they’re now.

Traders will have the ability to take pleasure in an enhanced transactional expertise by means of Pepe Unchained’s native PEPU token. Nonetheless, they are going to nonetheless have the ability to seamlessly bridge their property between the safe Ethereum and lightning-fast Pepe Unchained blockchains.

Pepe Unchained’s meme coin attraction and its layer-2 capabilities are precisely why the favored crypto YouTube channel 99Bitcoins named the crypto as a high venture to purchase into now.

Traders Guess Massive On PEPU’s Future

Pepe Unchained has managed to lift over $11 million by means of its ongoing ICO as an investor frenzy erupts across the meme coin. Past its layer-2 capabilities and the quite a few analysts which might be bullish on the venture, a possible motive for the heightened investor curiosity might be the 182% APY being supplied at this early stage.

Pepe is getting ready to launch his personal Layer 2 blockchain resolution quickly:

🧠 On the spot bridging between ETH and Pepe Chain
🧠 Lowest transaction charges
🧠 100x sooner transaction speeds in comparison with ETH
🧠 Devoted Block Explorer

Prepare to hitch the long run with Pepe Unchained! ⛓️🐸 pic.twitter.com/9gxNnddMyq

— Pepe Unchained (@pepe_unchained) July 18, 2024

To unlock these rewards, all buyers have to do is buy and stake PEPU whereas the venture continues to be in its presale section. Promoting for $0.0093477, the meme coin could be acquired utilizing the straightforward purchase widget embedded on the venture’s web site. ETH, USDT, BNB or financial institution card can be found cost choices. 

As soon as bought, the PEPU tokens could be locked up by means of the staking web page on the location to achieve entry to the 182% APY. Traders trying to seize this chance will wish to act quick in the event that they wish to lock in the perfect price, as a result of the token’s worth is scheduled to extend through the subsequent levels of its ICO.

Buy and stake PEPU right here for the 182% APY earlier than its worth will increase.

Associated Articles: