Axie Infinity will be unlocking more tokens today. Will AXS price fall? Pepe Unchained presale is approaching $20 million
Crypto prices are steady at press time but within a bearish formation. Although Bitcoin is inching closer to $66,000, not much can be said of Axie Infinity (AXS) and other altcoins.
AXS prices
Price Trading volume in 24h Last 7d price movement are flat and struggling for momentum.
AXS Price Is Under Pressure As Axie Infinity Plans To Release More Tokens
While there is clear support at around $4, the coin is down by over 65% from March 2024 highs. Moreover, there is a double top at $5.5, capping gains in the past few days.
If sellers dominate, the probability of AXS dumping below $4 is high.
( AXSUSDT )
And this will be highly likely now that Axie Infinity will be unlocking more AXS tokens today.
According to Token Unlocks , Axie Infinity will release 9.25 million AXS worth $45 million in a cliff unlock, representing 6.08% of the circulating supply.
The good news is that 89% of all AXS–that is, 240.40 million tokens, have been released. Only 29.60 million AXS remain unlocked.
( Source )
On September 14, 815,630 AXS were released.
With more AXS hitting the market, prices might drop, and $4 remains a key support level to monitor closely.
Bearish as this may be, it is worth noting that only 11% of all AXS are locked—a massive development for the gaming project.
Considering that AXS’ inflation is dropping and Axie Infinity is popular, a contrarian move might print out, lifting demand and, thus, prices above the local resistances.
Bullish as it is, time will tell.
The bad news is that not everyone is patient. Already, some investors are exploring alternatives.
Pepe Unchained Closing On $20 Million: Biggest Presale of 2024?
Top of the list is the Pepe Unchained presale , closing in on raising nearly $20 million.
Pepe Unchained is building a layer-2 platform on Ethereum dedicated to meme coins.
And already, the demand is high.
Last week, whales were buying, scooping a $50,000 buy in one swoop.
( Source )
PEPU, the native token, currently trades for $0.00998 but will increase to $0.00998 in the next presale stage.
What’s attractive about Pepe Unchained is its focus on meme coins and its ambition of making launches and trading as cheap and convenient as possible.
Part of their goal is to bridge Ethereum and the Pepe Chain instantaneously while offering extremely low fees. Analysts say Pepe Unchained will be 100X faster than the main net.
Additionally, a developer grant, “ Frens with Benefits ,” will be initiated to attract fresh talent to spur activity.
PEPU holders can stake and receive a 113% yield ahead of the token listing, where analysts on YouTube think it will fly, even rallying 100X.
VISIT PEPE UNCHAINED HERE
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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.
