Scroll Price Dips 17% as PEPE 2.0 Presale Hits $22 Million[embed]https://www.youtube.com/watch?v=dl–AJ_OLYY[/embed]

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</div></div></div><p>The Scroll price has dropped 17% in the past 24 hours <a href="https://www.coingecko.com/en/coins/scroll">to $1.04</a> as of 7:12 a.m. EST, with trading volume surging 76% to reach $358 million.</p>
<p>This decline came after Scroll announced its first airdrop and the listing of the SCR token on exchanges today, including <a href="https://cryptocodes.care/b_Binance_65777">Binance</a>, <a href="https://cryptocodes.care/b_bybit_65869">Bybit</a>, Bitget, and <a href="https://cryptocodes.care/b_kucoin_66064">KuCoin</a>.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true" wp_automatic_readability="15.75">
<p lang="en" dir="ltr">The wait is finally over.</p>
<p>Today, we're thrilled to announce Scroll's First Airdrop 🪂</p>
<p>This airdrop celebrates the collective efforts and contributions that have driven Scroll’s success thus far.</p>
<p>Check out the full announcement for all the details!</p>
<p>🔗:… <a href="https://t.co/xGD6x8zWDD">pic.twitter.com/xGD6x8zWDD</a></p>
<p>— Scroll (@Scroll_ZKP) <a href="https://twitter.com/Scroll_ZKP/status/1848354691605782731?ref_src=twsrc%5Etfw">October 21, 2024</a></p></blockquote>

<p>As noted by Anon Vee on X, the Scroll community is becoming increasingly frustrated with the project’s token distribution approach. Many users consider the SCR token allocation to be inequitable, with particular criticism aimed at the team for reserving 23% of the tokens for themselves.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true" wp_automatic_readability="11.72972972973">
<p lang="en" dir="ltr">Scroll team is indeed very greedy!</p>
<p>After taking %23 for themselves, they chose to sybil the airdrop by assigning team addresses over 1m marks each</p>
<p>Note: the average marks per user hover around 300. <a href="https://t.co/xhAHbcxqqz">pic.twitter.com/xhAHbcxqqz</a></p>
<p>— Anon Vee (@AnonVee_) <a href="https://twitter.com/AnonVee_/status/1847095145877197265?ref_src=twsrc%5Etfw">October 18, 2024</a></p></blockquote>

<p>Moreover, there are accusations that the Scroll team has engaged in Sybil-like activities, which have diminished rewards for typical users.</p>
<h2>Scroll Price Indicates a Rebound Within the Bearish Channel</h2>
<p>The SCR/USD chart clearly illustrates a downward trend within a bearish channel, with the price currently at $1.03417. It is nearing a crucial support level around $1.00, which could provide a base for a possible recovery. The 50 SMA at 1.1186 acts as a resistance point, suggesting that the bearish trend may persist unless the price surpasses it.</p>
<p>The MACD shows a minor bullish crossover, as the MACD line is situated just above the signal line, indicating potential alleviation of bearish momentum. Nonetheless, the crossover remains feeble, with the MACD histogram still in negative territory at -0.03365739.</p>
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<img decoding="async" 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"/>
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<p style="text-align: center;">SCRUSD Analysis Source: Dextools.io</p>
<p>Currently, the RSI is measured at 36.56, nearing the oversold region, suggesting that selling pressure might be easing. This array of indicators implies a potential short-term recovery, although confirmation is still pending.</p>
<p>Volume has surged around the support zone, indicating heightened market activity, which may suggest accumulation as traders look forward to a rebound. Should the Scroll price maintain the $1.00 support level and the RSI ascend further, it may trigger a reversal.</p>
<p>Conversely, failing to surpass the 50 SMA could suggest that the bearish trend would continue, with a possibility of dropping below $1.00 if the support weakens.</p>
<p>The prevailing trend remains bearish, but there are initial signals of a potential recovery if critical levels hold. Keeping an eye on price movements at the $1.00 support and awaiting confirmation from the MACD and RSI will offer clearer insights into the upcoming direction.</p>
<h2>PEPE 2.0 Presale Reaches $22 Million: The Prime Meme Coin to Consider?</h2>
<p>While the Scroll price collapses, investors continue to invest in the new PEPE derivative, Pepe Unchained (PEPU), which has surpassed $21.9 million in its presale.</p>
<p>Whales have frequently purchased the token in the last month, including a significant transaction on Oct. 21, when one exchanged $53,563 worth of ETH for 4.6 million $PEPU tokens.</p>
<p>An analyst from the well-known 99Bitcoins YouTube channel, boasting over 706k subscribers, believes that PEPU could potentially skyrocket by 100X upon its official launch.</p>
<noscript></noscript>
<p>PEPU features its own Layer 2 blockchain aimed at freeing the original PEPE meme coin from the slow and costly Ethereum network. This new platform enables transactions that are up to 100 times quicker than Ethereum, along with significantly reduced gas fees.</p>
<p>Additionally, PEPU is fully compatible with Ethereum’s decentralized applications (dApps), enabling users to benefit from faster transactions without losing access to the larger Ethereum ecosystem.</p>
<p>Beyond its speed and cost-efficient advantages, PEPU seeks to create a niche in the meme coin sector, presenting a new, scalable platform for inventive and entertaining crypto projects.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true" wp_automatic_readability="7.0422535211268">
<p lang="en" dir="ltr">This is how hyped we are for the L2</p>
<p>We know you are too 🐸 <a href="https://t.co/T7yJ4RCA84">pic.twitter.com/T7yJ4RCA84</a></p>
<p>— Pepe Unchained (@pepe_unchained) <a href="https://twitter.com/pepe_unchained/status/1848830738319147190?ref_src=twsrc%5Etfw">October 22, 2024</a></p></blockquote>

<p>In support of this vision, the developer grant program, aptly titled “Frens with Benefits,” is currently accepting applications from talented developers eager to build on the Pepe Chain ecosystem.</p>
<p>Token holders can also stake their PEPU for an impressive annual return of 103%.</p>
<p>Currently trading at $0.01176, PEPU can be purchased using ETH, USDT, BNB, or even via bank card. With a price hike expected in less than 22 hours, act quickly to secure the best deal.</p>
<p>Purchase PEPU tokens on the official website here.</p>
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