Ethereum Price Surges 12% As Justin Sun Buys 14,884 ETH And This Ethereum Layer 2 Meme Coin Explodes In Presale

The
Ethereum
price
jumped
12%
in
the
last
24
hours


to
trade
at
$2,505

as
of
03:18
a.m.
EST
on
trading
volume
that
dropped
30%
to
$39
billion.

This
development
follows
Tron
founder
Justin
Sun’s
decision
to
buy
the
dip,
purchasing
14,884
ETH
worth
approximately
$36
million
from
the
leading
cryptocurrency
exchange
Binance,
according
to
data
from
blockchain
analytics
platform
Spot
On
Chain. 

Justin
Sun
(@justinsuntron)
withdrew
14,884

$ETH
($35.97M)
from

#Binance
10
hours
ago!

This
brought
the
total
amount
of

$ETH
he
accumulated
since
Feb
to
392,474

$ETH
(est.
cost:
$1.19B,
now
worth:
$995M).

Note
that
Justin
Sun
also
deposited
a
net
amount
of
49M

$USDT
to

#HTX
in…

pic.twitter.com/43dHfK4U74

—
Spot
On
Chain
(@spotonchain)

August
6,
2024

Rumors
had
initially
circulated
that
Sun
had
liquidated
his
positions
after
the
Bitcoin
price
dipped
to
$49,781,
but
Sun
confirmed
that
such
rumors
were
false.

The
rumors
about
our
positions
being
liquidated
are
false.
We
rarely
engage
in
leveraged
trading
strategies
because
we
believe
such
trades
do
not
significantly
benefit
the
industry.
Instead,
we
prefer
to
engage
in
activities
that
provide
greater
support
to
the
industry
and…

—
H.E.
Justin
Sun
孙宇晨
(@justinsuntron)

August
5,
2024

Ethereum
Price
Set
For
A
Continued
Rally

The
Ethereum
price
is
recovering
well
below
the
falling
channel
pattern
after
hitting
the
$2,200
support
level
yesterday,
according
to
data
from


GeckoTerminal.

The
ETH
bulls
aim
to
push
the
token’s
price
above
the
channel’s
upper
boundary
as
the
Relative
Strength
Index
(RSI)
rebounds
from
below
the
30-oversold
level
to
currently
trade
at
52.
With
the
RSI
soaring,
it
is
evident
that
buyers
now
have
the
upper
hand,
which
could
push
the
price
of
Ethereum
higher.

Moreover,
the
Moving
Average
Convergence
Divergence
(MACD)
is
also
rebounding
toward
the
neutral
line
and
still
soaring,
which
could
signal
a
rising
momentum.
The
blue
MACD
line
also
crosses
above
the
orange
signal
line,
forming
a
bullish
crossover,
affirming
the
continued
bullish
stance.

The
Ethereum
price
analysis
on
the
1-hour
chart
indicates
a
sustained
bullish
reversal,
as
the
bulls
aim
to
push
the
Ethereum
price
further
above
the
falling
channel
pattern.
If
investors
take
advantage
of
the
recent
surge,
the
price
of
Ethereum
could
rally
above
the
channel
as
the
bulls
target
$3,350.

However,
in
an
inverse
scenario,
if
the
bears
take
control
of
the
price
here,
ETH
could
correct
back
to
the
$2,200
support
zone.

As
the
Ethereum
price
recovers,
meme
coin
lovers
are
diversifying
their
portfolios
with
a
new
PEPE
derivative
called


Pepe
Unchained
(PEPU),
which
has
garnered
over
$7.4
million
in
its
ongoing
presale.

The
YouTube
channel
99Bitcoins,
with
more
than
706k
subscribers,
says
PEPU
offers
”insane
rewards”
and
urges
investors
not
to
”miss
out.”

Pepe
Unchained
Raises
Over
$7.4
Million
–
Best
Meme
Coin
To
Buy
Now?

Pepe
Unchained
aims
to
follow
the
success
seen
by
its
predecessor,
PEPE,
which
has
delivered
mind-blowing
returns
to
early
investors.

As
its
name
suggests,
Pepe
Unchained
aims
to
free
Pepe
from
his
old,
clunky,
Layer-1
server
room.
The
project
will
thus
run
on
its
own
proprietary
Ethereum
Layer
2
blockchain. 

Who
needs
some
Brain
Powder?

Pepe
is
gearing
up
for
the
official
launch
of
his
very
own
blockchain!
????

pic.twitter.com/kZC72UmxFy

—
Pepe
Unchained
(@pepe_unchained)

June
20,
2024

Pepe
Unchained
aims
to
tackle
the
scalability,
speed,
and
efficiency
issues
that
often
plague
meme
coins
built
on
the
Ethereum
Layer-1
blockchain. 

Token
holders
can
also
earn
passively
through


the
platform’s
staking
system,
which
offers
an
annual
percentage
yield
(APY)
of
263%.

You
can
buy
$PEPU
tokens
for
$0.0089105
each.
With
a
price
hike
coming
in
about
a
day,
buy
soon
to
lock
in
the
best
deal.

To
join
the
presale,


buy
$PEPU
from
the
official
website
here

using
ETH,
USDT,
or
a
bank
card.

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