Key Takeaways
New Ethereum-based token Pepeto has raised over $8.8 million in its presale, capitalizing on strengthening market sentiment as analysts project Ethereum’s price could climb toward $9,000. The rapid fundraise signals strong conviction from investors backing the project’s utility and meme coin characteristics.
The project’s founder, who previously built platforms at Binance, said the goal is to solve for high transaction costs on Ethereum. “We built PepetoSwap to kill the fees that eat every portfolio, zero cost on every swap while Uniswap and PancakeSwap take 0.3% per trade,” he said. The interest from large Ethereum holders mirrors strategies seen in the network’s early days, with on-chain data from Lookonchain showing a single investor turned a $6,200 presale investment in Ethereum in 2014 into a holding worth over $80 million.
The fundraise comes as the crypto market shows renewed strength. Ethereum’s price jumped six percent after a reported US-Iran ceasefire, reaching its highest level since March 18, per Bloomberg data. Tom Lee of Fundstrat has forecast an Ethereum price between $7,000 and $9,000 in the near term, according to Yahoo Finance. A rising Ethereum price tends to lift values for projects built on its network.
For investors, Pepeto presents a dual opportunity, combining the viral potential of a meme coin with the tangible utility of a zero-fee exchange and bridge. This combination is rare in the presale market and is attracting capital that seeks higher returns than those available from large-cap cryptocurrencies. With the presale window closing, investors are facing a limited time to enter a position before the token’s public launch.
This article is for informational purposes only and does not constitute investment advice.
