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Mpeppe (MPEPE) Becomes Crypto Life Jacket As Toncoin (TON) Drops 12.6%, Sharks Swim To Warm Waters
As Toncoin (TON) faces a sharp decline of 12.6%, savvy investors are turning to Mpeppe (MPEPE) for refuge. The meme coin market continues to evolve, and Mpeppe (MPEPE) is rising as a new beacon of opportunity for those seeking to preserve and grow their wealth in turbulent crypto waters.
Here’s why investors are flocking to Mpeppe (MPEPE) and how it’s positioning itself as the crypto life jacket amid Toncoin (TON)’s decline.
Toncoin (TON)’s 12.6% Drop: What Went Wrong?
Toncoin (TON) has been struggling with a significant market downturn, shedding 12.6% of its value in recent days. Investors who once had faith in TON are now concerned about its long-term stability, prompting many to jump ship and seek alternative investments. The decline has been attributed to market volatility and a lack of tangible use cases to sustain its price growth.
Mpeppe (MPEPE): A Meme Coin with Real Utility
While Toncoin (TON) falters, Mpeppe (MPEPE) is gaining ground with its unique blend of meme culture, blockchain innovation, and sports fandom. Unlike many meme coins, Mpeppe (MPEPE) is building a robust ecosystem that merges entertainment, community engagement, and financial innovation. Its connection to global sports, particularly soccer, has made it a standout project that goes beyond the typical hype-driven nature of meme coins.
Sharks Swim to Mpeppe (MPEPE)’s Warm Waters
As Toncoin (TON) investors look for safer opportunities, Mpeppe (MPEPE) is becoming their go-to investment. The coin’s focus on combining the fun of meme culture with practical blockchain applications has made it a promising alternative. Investors, especially those known as “sharks” for their aggressive trading strategies, are now eyeing Mpeppe (MPEPE) as a chance to not only preserve their wealth but also position themselves for significant gains.
Fusion of Sports Passion and Blockchain Innovation
What sets Mpeppe (MPEPE) apart from other meme coins is its deep integration with sports culture. Inspired by the monumental success of Pepecoin and the global influence of soccer star Mbappé, Mpeppe (MPEPE) taps into the global sports fan base. By building a community where crypto enthusiasts and sports fans unite, Mpeppe (MPEPE) creates a fusion of passion and technology that appeals to a diverse and enthusiastic audience.
Conclusion: Mpeppe (MPEPE) Is the Crypto Life Jacket Amid Toncoin (TON)’s Decline
As Toncoin (TON) continues to face challenges, Mpeppe (MPEPE) emerges as the life jacket for investors seeking safety and growth. With its community-driven focus, innovative applications in DeFi and gaming, and strong ties to global sports, Mpeppe (MPEPE) is quickly becoming the meme coin to watch in 2024. As smart money flows out of Toncoin (TON), Mpeppe (MPEPE)’s warm waters are welcoming investors looking for a bright future in crypto.
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Shiba Inu meme coin has recently rattled the crypto market by following one of the latest trends in the sector. The crypto’s team shared an X post this Friday that read, “Shib is for everyone.” This post follows the recent “Base is for everyone” token buzz.
Notably, Coinbase Layer 2 network Base earlier posted a very similar comment on X. As an upshot, the crypto realm saw the unintended launch of a new coin, with its price skyrocketing momentarily before falling from grace.
Shiba Inu Team Shares “Shib Is For Everyone” Post After Base, Here’s The Scoop
Shiba Inu team’s account @Shibtoken shared an X post on April 18 that read, “Shib is for everyone.” Further, the team shared another post soon after that read “Coined it.” The latter post was linked to Zora, a platform that allows users to mint content as tokens.
As mentioned above, these posts mainly follow the Coinbase L2 network’s recent chronicle. It’s noteworthy that the Layer 2 network shared an X post that read “Base is for everyone, followed by another post that read, “Just coin it,” linking it to the platform Zora.
The upshot? A domino effect kicked in, and these posts by the Layer 2 network ignited the launch of a new token that wasn’t even officially verified. Notably, this new token soon hit a market cap of over $20 million before erasing over 40% in value and retracing to $11 million. In turn, crypto market traders and investors are left abuzz amid this token’s launch, whilst the Shiba Inu team is now following similar footsteps.
It’s notable that some crypto traders even turned a mere $4.5K investment into a whopping $666K with the new “Base is for everyone” token. This saga put a major spotlight on the crypto project, with some even tossing insider trading and rug-pull allegations.
Did SHIB Price React Similarly To “Base Is For Everyone” Token?
Meanwhile, the hourly SHIB price chart shows that the meme coin witnessed a 1% uptick after the post by @Shibtoken, reaching $0.0000118. Its price recovered after hitting a low of $0.00001164 intraday. Notably, market experts like IAmCryptoWolfy are wondering about the sudden jump in Shiba Inu price, highlighting the surge on X.
However, this upward trajectory is relatively diminished compared to what the new Base token witnessed before falling. Besides, CoinGape recently reported that SHIB’s daily volume has also hit remarkable levels. As a result, traders and investors remain optimistic about what lies next for the meme coin’s price as it taps into one of the latest market trends amid bullish dynamics.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
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.
Pi Network price is staring down the barrel of a gun as it faces the grim prospects of heightened price volatility. Cryptocurrency analyst Dr Altcoin warns that an avalanche of new accounts on Banxa with small Pi balances poses increased danger for the Pi Network price.
Dr Altcoin Warns Of Price Volatility From Banxa Account Activity
Pseudonymous cryptocurrency analyst Dr Altcoin has urged Pi Network investors to brace for the impact of incoming price volatility. Dr Altcoin revealed in an X post that a coordinated account activity on the cryptocurrency trading platform Banxa may affect Pi Network price stability.
He opines that Banxa is allowing the creation of multiple accounts, with a common denominator being their funding with small Pi Coin balances. The new accounts all have a balance of 0.98 Pi valued at around $0.61 in coordinated fashion.
“Banxa is creating many new accounts, each with a balance of 0.98 Pi,” said Dr Altcoin. “This could lead to price volatility.”
While the entity behind the synchronized account creation remains unknown, Dr Altcoin notes that extreme price volatility is on the horizon. Firstly, small wallets have seen action in wash trading scams to simulate fake market activity. Secondly, a concerted sale of Pi Coins in the wallets can create artificial sell pressure for Pi Network.
By keeping Pi balances under the 1 Pi mark, there is chatter that the entity is attempting to sidestep exchange rules and avoid detection.
In early April, Banxa rolled out support for Pi Network allowing users to buy, sell and hold Pi Coins on the platform. Since the integration, there have been over 1.2 million Pi Coin buys on Banxa,
Pi Network Records Significant Whale Activity
While Banxa accounts are buying miniscule amounts of Pi, whales are loading up their holdings with seismic purchases. The number of Pi Coins on exchanges dropped from 365 million to 359 million in under 48 hours. The decline of 6 million Pi Coins from exchanges is considered a clear sign of whales stacking up on the asset.
For now, it is unclear if the heightened whale activity is connected to the Banxa account activity. If connected, a classic pump and dump scheme may be in the offing for Pi Network price.
At the moment, Pi Network price is trading at $0.6 and shows no signs of wild price volatility. Pi Network’s momentum is surging to new levels, flashing indicators to reclaim the $1 dollar mark.
There is speculation that Pi Coin can reach highs of $30 if top banks start using Pi with a chain link integration driving up a short-term burst to $3,
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.
As the XRP price approaches key support levels, crypto analysts Casitrades forecast that the cryptocurrency is on the verge of a breakout. A potential surge in price could see XRP targeting levels as high as $6, with the conclusion of Wave 2 of its Elliott Wave pattern signalling a shift toward bullish momentum.
This technical analysis points to a possible market rally, especially if the XRP price maintains support above $1.90 or $1.55.
XRP’s Price Trend Points To Rally To $6
Currently, XRP’s price remains near the $2.08 level, consolidating between crucial support and resistance zones. According to Elliott Wave theory, XRP price appears to be finishing Wave 2, a corrective phase, with a possible reversal that could trigger a move higher. Crypto analysts Casitrade has spotted the $1.90 and $1.55 levels, where XRP has shown solid support in recent weeks.
For a sustained breakout, XRP needs to break and hold above the $2.24 resistance. This level is critical as it represents the 0.382 Fibonacci retracement. If XRP price can clear and hold above this price, analysts expect a sharp move toward the $6 target, $9.50 and $12, which aligns with the 1.618 Fibonacci extension.
A strong push above $2.24 would likely validate the breakout, allowing XRP to build on the current bullish momentum. Conversely, if the price struggles at this level and fails to maintain support, XRP could experience a brief pullback before making another attempt at higher targets.
Technical Indicators Point to Bullish Momentum
Early buy signals in the technical factors of XRP are pointing towards a bullish direction. The MACD histogram is green and the MACD line has recently crossed above the signal line, thus indicating a higher tendency for buying pressure. Concurrently, the Relative Strength Index (RSI) is still middle of the range, and that certainly provides some more room for price appreciation, if buying pressure persists.
Besides these, if XRP price is able to sustain above the $2.25 on the weekly chart, this will indicate a low at the $2.09 mark. According to analyst EGRAG CRYPTO, a full-bodied weekly candle above this price would confirm a bullish reversal, allowing XRP to target higher price zones such as $2.51 and $2.60.
However, short-term volatility has remained a concern despite such signals. Currently, there has been a remarkable increase in exchange inflows, with more than 55 million XRP moved to exchanges, which could put pressure on the sell-side in the market. However, analysts foresee a more positive, longer-term outlook for XRP due to the possibility of a Ripple ETF.
XRP ETF Approval Could Fuel Price Surge
Investor sentiment surrounding XRP is also being fueled by the growing excitement about a potential Ripple ETF. According to reports, analysts at JPMorgan are predicting that the approval of a Ripple spot ETF could bring in over $8 billion in institutional investments. This could trigger a surge in the price of XRP, potentially pushing it well above $6.
The approval of an XRP ETF is seen as a key development for the cryptocurrency, with analysts such as Zach Realtor suggesting that it could send the price toward $15. Such a move would also bring XRP closer to a $1.8 trillion market cap, making it one of the most valuable assets in the crypto space. The approval process for Ripple’s ETF is expected to unfold in the coming months, with the SEC set to make a decision on Grayscale’s XRP spot ETF filing by May 22.
In the meantime, Teucrium’s recently launched leveraged XRP ETF has already gained significant traction, attracting $27 million in assets. This growing interest in XRP-based products further strengthens the case for a potential ETF approval, which could provide the necessary catalyst for a significant price rally.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
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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