Scroll

PEPE

Pepe Chain

The Scroll price has plummeted 17% in the last 24 hours <a href="https://www.coingecko.com/en/coins/scroll" rel="noopener noreferrer nofollow">to trade at $1.04</a> as of 7:12 a.m. EST on a 76% surge in trading volume to $358 million.
The price drop followed Scroll’s announcement on X of its first airdrop and the SCR token’s listing on exchanges today, including <a href="https://cryptocodes.care/b_Binance_65777" rel="noopener noreferrer nofollow">Binance</a>, <a href="https://cryptocodes.care/b_bybit_65869" rel="noopener noreferrer nofollow">Bybit</a>, Bitget, and <a href="https://cryptocodes.care/b_kucoin_66064" rel="noopener noreferrer nofollow">KuCoin</a>.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The wait is finally over.
 Today, we're excited to introduce Scroll's First Airdrop 🪂
 This airdrop is a celebration of the collective efforts and contributions that have driven Scroll’s success so far.
 Read the full announcement to dive into the details!
 🔗:… <a href="https://t.co/xGD6x8zWDD" rel="noopener noreferrer nofollow">pic.twitter.com/xGD6x8zWDD</a>
 — Scroll (@Scroll_ZKP) <a href="https://twitter.com/Scroll_ZKP/status/1848354691605782731?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 21, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
As Anon Vee highlighted on X, the Scroll community is increasingly dissatisfied with the project’s token allocation strategy. Many users feel the SCR token distribution is unfair, particularly criticizing the team for allocating 23% of the tokens to themselves.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Scroll team is so greedy!
 After allocating %23 to themselves, they also chose to sybil the airdrop by allocating team addresses 1m+ marks each
 Note: the average marks per user is around 300. <a href="https://t.co/xhAHbcxqqz" rel="noopener noreferrer nofollow">pic.twitter.com/xhAHbcxqqz</a>
 — Anon Vee (@AnonVee_) <a href="https://twitter.com/AnonVee_/status/1847095145877197265?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 18, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
There are also allegations that the Scroll team engaged in Sybil-like behavior, which has diluted the rewards for regular users.
<h2 id="scroll-price-signals-a-rebound-within-the-bearish-channel">Scroll Price Signals A Rebound Within The Bearish Channel</h2>
The SCR/USD chart shows a clear downtrend within a bearish channel, with the price currently at $1.03417. It is approaching a key support level near $1.00, which could act as a floor for a potential rebound. The 50 SMA at 1.1186 serves as a resistance level, indicating that the bearish trend may continue unless the price breaks above it.
The MACD shows a slight bullish crossover, with the MACD line just above the signal line, suggesting a possible weakening of bearish momentum. However, the crossover remains weak, as the MACD histogram value is still negative at -0.03365739.
<img decoding="async" class="aligncenter wp-image-590625 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/10/DEXTools.io_SCR_USD-NUR_2024-10-23_15-25-38.png" alt="Scroll Price" width="1319" height="571" srcset="https://insidebitcoins.com/wp-content/uploads/2024/10/DEXTools.io_SCR_USD-NUR_2024-10-23_15-25-38.png 1319w, https://insidebitcoins.com/wp-content/uploads/2024/10/DEXTools.io_SCR_USD-NUR_2024-10-23_15-25-38-300x130.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/10/DEXTools.io_SCR_USD-NUR_2024-10-23_15-25-38-1024x443.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/10/DEXTools.io_SCR_USD-NUR_2024-10-23_15-25-38-768x332.png 768w" sizes="(max-width: 1319px) 100vw, 1319px">
SCRUSD Analysis Source: Dextools.io
Meanwhile, the RSI is currently at 36.56, close to the oversold territory, implying that selling pressure may be diminishing. This combination of indicators hints at a possible short-term rebound, though it is not fully confirmed yet.
Volume has spiked near the support zone, indicating increased market activity, which could be a sign of accumulation as traders anticipate a bounce. If the Scroll price holds the $1.00 support level and the RSI recovers further, it may lead to a reversal.
On the other hand, a failure to break above the 50 SMA could mean that the bearish trend will persist, with a potential drop below $1.00 if support weakens.
The trend is still bearish, but there are early signs of a potential rebound if key levels hold. Monitoring price action at the 1.00 support and looking for confirmation from the MACD and RSI will provide clearer insight into the next move.
<h2 id="pepe-2-0-presale-closes-on-22-million-best-meme-coin-to-buy-now">PEPE 2.0 Presale Closes On $22 Million: Best Meme Coin To Buy Now?</h2>
As the Scroll price dumps, investors continue to pump cash into the new PEPE derivative <a href="https://insidebitcoins.com/visit/pepeunchained" target="_blank" rel="noopener noreferrer nofollow">Pepe Unchained (PEPU)</a>, which has crashed past $21.9 million in funds raised in its presale.
Whales have often bought the token this past month, with the most recent big buy coming on Oct. 21, when one exchanged $53,563 worth of ETH for 4.6 million $PEPU tokens.
According to an analyst from the 99Bitcoins YouTube channel, which has a huge following of over 706k subscribers, PEPU could potentially surge by 100X once it officially launches.
<iframe title="This New Meme Coin Will 100X!!! Pepe Coin Holders Alert!!! Pepe Unchained will 100X!!!" width="640" height="360" src="https://www.youtube.com/embed/dl--AJ_OLYY?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
PEPU comes with its own Layer 2 blockchain, designed to liberate the OG PEPE meme coin from the slow and costly Ethereum network. This new platform offers transactions that are up to 100 times faster than those on Ethereum, as well as significantly lower gas fees.
What’s more, PEPU is fully compatible with Ethereum’s decentralized applications (dApps), allowing users to enjoy increased speed while still benefiting from the broader Ethereum ecosystem.
In addition to its speed and cost advantages, PEPU aims to open its network to the meme coin space, creating a new, scalable platform for innovative and entertaining crypto projects.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 This is how jacked we are for the L2
 We know you are too 🐸 <a href="https://t.co/T7yJ4RCA84" rel="noopener noreferrer nofollow">pic.twitter.com/T7yJ4RCA84</a>
 — Pepe Unchained (@pepe_unchained) <a href="https://twitter.com/pepe_unchained/status/1848830738319147190?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 22, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
To support this vision, the developer grant program, aptly named “Frens with Benefits,” is currently open, inviting talented developers to build on the Pepe Chain ecosystem.
Holders of PEPU tokens can also stake them for a huge annual return of 103%.
Currently priced at $0.01176, PEPU can be purchased using ETH, USDT, BNB, or even a bank card. With a price increase in less than 22 hours, buy soon to secure the best deal.
<a href="https://insidebitcoins.com/visit/pepeunchained" rel="noopener noreferrer nofollow">Buy PEPU tokens on the official website here.</a>
<h2 id="related-articles">Related Articles</h2>
<ul>
 <li><a href="https://insidebitcoins.com/news/trump-mcdonalds-stunt-boosts-magatron-over-kamacop-in-freedum-fighters-race-as-presale-blasts-past-200k-in-4-days" rel="noopener noreferrer nofollow">Trump McDonald’s Stunt Boosts MAGATRON Over Kamacop In FreeDum Fighters Race As Presale Blasts Past $200K In 4 Days</a></li>
 <li><a href="https://insidebitcoins.com/news/5-best-altcoins-to-buy-now-october-22-raydium-uniswap-jupiter-tron" rel="noopener noreferrer nofollow">5 Best Altcoins to Buy Now October 22 – Raydium, Uniswap, Jupiter, TRON</a></li>
 <li><a href="https://insidebitcoins.com/news/moo-deng-price-prediction-moodeng-soars-37-as-whale-fomo-powers-pepe-unchained-towards-30-million" rel="noopener noreferrer nofollow">Moo Deng Price Prediction: MOODENG Soars 37% As Whale FOMO Powers Pepe Unchained Towards $30 Million</a></li>
</ul>

Scroll Price Prediction: SCR Slumps 17% As This PEPE 2.0 Presale Goes Ballistic

Table of Contents

Inside Bitcoins

Other articles published on Oct 23, 2024

Gen Z dan Generasi Milenial Dominasi Investor Saham AS di Reku

Metamask Brings XRP Ledger Access To Users, XRP Price To Rally?

SOL, TAO, FOXY, and DOGE Flash Bullish Cup & Handle Signals While Ethereum Mirrors Bitcoin’s 2020...

IMF Predicts Global Inflation Drop to 3.5% by 2025 Amidst Ongoing Risks

Ripple CEO endorses crypto lawyer in race against Sen. Warren

World Liberty Fi Website Crashes Amid $6.5M Raise

Join our free newsletter for daily crypto updates!