Altcoin
Ethereum Price Slumps 5.5% Sending Shockwaves Throughout Crypto Sphere, Mpeppe Becomes Investor Lifeboat After 150% Rally
The cryptocurrency market has once again found itself in turbulent waters, with Ethereum (ETH) leading the way in a recent downturn. The price of Ethereum slumped by 5.5%, sending shockwaves throughout the crypto sphere and leaving investors scrambling to find a safe haven. Amidst this chaos, Mpeppe (MPEPE), the rising star of the meme coin universe, has emerged as a lifeboat for investors, rallying an impressive 150% and capturing the attention of those looking to mitigate losses.
Choppy Waters: Ethereum’s Recent Struggles
Ethereum (ETH), long considered the backbone of the decentralized finance (DeFi) sector and smart contract ecosystem, has faced significant challenges in recent weeks. Despite the buzz surrounding BlackRock’s Ethereum ETF, which recently surpassed the $1 billion mark in net inflows, Ethereum’s price has been under pressure. The ETF’s success indicates a growing institutional interest in Ethereum-based products, yet this hasn’t been enough to stave off a broader market decline.
As Ethereum’s price dropped by 5.5%, concerns about the short-term future of the cryptocurrency grew. The downturn has been attributed to a mix of market sentiment, macroeconomic factors, and the broader performance of the crypto market which Meme coin like Mpeppe have been able to navigate through. This decline comes despite the significant milestone achieved by BlackRock, where their Ethereum ETF has been a major player in driving institutional interest, highlighting the complexity of the market dynamics at play.
Mpeppe (MPEPE): The Investors Lifeboat
While Ethereum (ETH) struggles to maintain its footing, Mpeppe (MPEPE) has proven to be a beacon of hope for investors. The meme coin, which has been making headlines for its rapid ascent, has now rallied by 150%, offering a lifeline to those who were hit by the recent Ethereum slump.
Mpeppe’s rise is not just a flash in the pan. The meme coin has been gaining significant traction due to its strong community support, viral marketing strategies, and unique DeFi casino offerings. Mpeppe (MPEPE) recently entered Stage 4 of its presale, having raised over $1.84 million and sold more than 1.5 billion tokens. The current price of Mpeppe stands at $0.0021 USDT, and the momentum shows no signs of slowing down.
Investors who were previously focused on Ethereum are now turning to Mpeppe as a way to recoup their losses and capitalize on the meme coin’s explosive growth. The contrast between Ethereum’s recent struggles and Mpeppe’s surge highlights the unpredictable nature of the cryptocurrency market and the growing appeal of meme coins as viable investment opportunities.
The Impact of BlackRock’s Ethereum ETF
Despite the recent dip in Ethereum’s price, BlackRock’s Ethereum ETF has achieved a significant milestone, surpassing $1 billion in net inflows. This achievement is a clear indicator of the increasing interest from institutional investors in Ethereum and its potential for long-term growth. BlackRock’s success with both its Ethereum and Bitcoin ETFs showcases the firm’s dominance in the crypto investment space which has also excelled layer 2 crypto’s like Mpeppe and many more.
However, the broader market downturn suggests that even strong institutional support may not be enough to shield Ethereum from short-term volatility. The success of BlackRock’s ETF, while impressive, contrasts with the immediate concerns facing retail investors who are looking for quicker returns amidst market fluctuations.
MPEPE & ETH: Similarities & Contrasts
The recent developments in the crypto market tell a story of two contrasting assets. On one hand, Ethereum (ETH), a cornerstone of the cryptocurrency ecosystem, has experienced a significant price drop, causing concern among investors despite the success of BlackRock’s Ethereum ETF. On the other hand, Mpeppe (MPEPE), a meme coin that started as a fun and community-driven project, has turned into a serious contender, offering investors a lifeline with its impressive 150% rally.
As the market continues to evolve, investors will need to stay agile, ready to pivot from traditional assets like Ethereum to emerging opportunities like Mpeppe. The rise of Mpeppe (MPEPE) serves as a reminder that in the world of cryptocurrency, adaptability and a keen eye for emerging trends can make all the difference.
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Crypto expert Egrag Crypto has again predicted that the XRP price could rally to as high as $27. The analyst has also revealed the exact timeline for when the altcoin could record this massive price surge.
Expert Reveals Time For XRP Price To Hit $27
In an X post, Egrag Crypto asserted that the XRP price can hit $27 in 60 days. The expert remarked that historical patterns indicate that the altcoin can reach this target within this timeframe.
Based on this price prediction, XRP could reach this $27 target by June, marking a 1,250% gain for Ripple’s native crypto. The expert’s accompanying chart showed that he was alluding to the 2017 bull run as to why the altcoin could record such a parabolic rally.
In 2017, XRP recorded a historic gain of over 60,000% as it rallied to its current all-time high (ATH) of $3.8 the following year. As such, based on history, a 1,250% increase is nothing for the altcoin.
In the meantime, the XRP price still boasts a bearish outlook thanks to the sentiment in the broader crypto market. As CoinGape reported, Ripple’s coin could drop to the next major support levels at $1.79 and $1.56 if it fails to hold above $2.03.
Decision Time For The Altcoin
In an X post, crypto analyst CasiTrades stated that it is decision time for the XRP price. She noted that the altcoin is showing strength with a bounce right back to the first key test at $2.17. She added that this is the resistance level she wants to see flip into support, as it might be the “most important price of the week.”
The analyst stated that XRP must reclaim this level to build momentum. She added that the $2 level remains a valid target if the $2.17 level rejects. Meanwhile, CasiTrades revealed that $2.70, $3.05, and $3.80 are the major resistance zones once the upward trend is confirmed.
The analyst also mentioned that the XRP price is now fully inside the Fibonacci Time Zone 3, which spans most of April. She affirmed that this is the breakout window market participants have been preparing for and that all signs point to a macro wave.
CasiTrades affirmed that the structure is clean. The RSI divergence has confirmed the bottom, while the subwaves are aligning well with the larger targets. If the next leg pushes XRP back above $2.17 with momentum, she claimed that market participants may finally see obvious signs of Wave 3. Interestingly, the analyst added that if the altcoin clears $2.70 this week, it may break the $1,000 price extension.
For now, investors may remain cautious, especially seeing how XRP fell after the PMI and JOLTS data release earlier today. Donald Trump is also set to announce reciprocal tariffs tomorrow, which could spark a massive price crash.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
A recent Binance update has triggered massive liquidations while sending Solana memecoin ACT into a steep correction. At first, pundits blamed market maker Wintermute for the jarring declines but Binance’s update to leverage and margin tiers appears to be the culprit.
Several Altcoins on Binance Suffer Massive Corrections
According to an X post, several altcoins listed on Binance took a major hit, dropping by double-digit percentages. The hardest hit of the lot was Solana memecoin ACT, experiencing a sudden drop of over 50% in 30 minutes.
Other altcoins including DEXE and DF equally recorded steep declines of 23% and 16% respectively in the same window. The price slump left traders scratching their heads but a consensus formed that sizable sell orders were behind the declines.
“The sudden dips were triggered by large sell orders executed in a short time frame, leading to a significant surge in spot trading volume,” said one pundit.
Others turned to market maker Wintermute as the trigger for the selloff. However, Wintermute CEO Evgeny Gaevoy denied responsibility while noting that the market maker reacted “post move.”
The decline comes amid a broader market recovery with several cryptocurrencies including Compound (COMP) gaining 70%.
What Triggered The 50% Decline For Solana Meme Coin
A Binance update on leverage and margin tiers on specific tokens like ACT triggered the massive declines. According to an April 1 announcement, the top exchange has updated the margin tiers of several perpetual contracts, noting that existing positions will be affected.
Following the move, one ACT whale got liquidated for $3.79 million at $0.1877, triggering a broad selloff. Former FTX community manager Benson Sun noted that traders had less than 3 hours to respond to the change, criticizing Binance for the move.
“Before changing the rules, Binance should have evaluated how many positions would be closed,” said Sun. “If there are market makers with large positions, they should have notified them in advance.”
Within hours of MUBARAK’s listing, the memecoin tumbled by 40% with Binance CEO Changpeng Zhao downplaying the impact of a listing on prices. Binance has drawn criticism in recent days following its exclusion of Pi Network from its Vote To List initiative.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
A crypto market crash looks imminent, with Bitcoin, Ethereum, XRP, and Dogecoin witnessing notable declines. This price crash happened following the release of weak manufacturing PMI and JOLTS data, which provides a bearish outlook for the market.
Crypto Market Crash: BTC, ETH, XRP, & DOGE Decline
CoinMarketCap data shows that a crypto market crash could be on the horizon, with the Bitcoin price sharply dropping below $83,000 from a daily high of around $84,400. Altcoins such as Ethereum, XRP, and DOGE also witnessed sharp declines.
This market crash occurred following the release of weak ISM manufacturing PMI and JOLTS data. The March PMI data dropped to 49, below expectations of 49.5 and lower than the 50 recorded in February.
The US JOLTS job openings for February came in at 7.568 million, below the expected 7.690 million and lower than the 7.762 million recorded in January. These data add to several macro fundamentals that paint a bearish outlook for the market.
This crypto market crash could persist, with China, Japan, and South Korea agreeing to respond to Donald Trump’s proposed tariffs. Trump is set to announce a number of reciprocal tariffs tomorrow, which could significantly harm the market as it sets off a trade war between the US and other nations.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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