Pepe Unchained IPO Crosses $9M Mark Amid Growing PEPE Mania, Layer 2 Solution Activity

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Cryptonews News Pepe Unchained IPO Surpasses $9 Million Amid Growing PEPE Mania and Layer 2 Solution Activity
Pepe Unchained IPO Surpasses $9 Million Amid Growing PEPE Mania and Layer 2 Solution Activity
Gary McFarlane
Gary McFarlane
August 19, 2024 at 18:15 GMT+3 | 4 min read
Week after week, investors continue to flock to a new Pepe-themed coin with its own Layer 2 solution on the Ethereum blockchain.

Pepe Unchained homepage featuring the IPO dashboard

The successful Pepe Unchained (PEPU) IPO has crossed the $9 million mark just 6 days after raising $8 million. Week after week, investors continue to flock to buy a new Pepe-branded coin with its own Layer 2 solution on the Ethereum blockchain; between the $8 million and $9 million IPO, an anonymous whale (large investor) invested $3.13 million in Pepe-PEPE in two purchases to take advantage of its low price.

In another development this week, layer 2 activity on the Ethereum blockchain has increased, with Coinbase’s Base blockchain registering 3.6 million transactions on Monday, while all Ethereum layer 2 protocols completed 12.44 million transactions on Tuesday, reflecting the growing use of these scaling solutions.

The growing enthusiasm around PEPE and the rise of layer 2 solutions has also prompted several Web3 influencers to buy and promote PEPU, including YouTuber Austin Hilton, who has 273,000 subscribers.