Altcoin
Pepe Coin Drops A further 11.54% Creating Scarcity Within Crypto Sphere, Analyst Point to Mpeppe to Balance Portfolio
Pepe Coin (PEPE) has been a significant player in the meme coin market since its explosive rise earlier in the year. However, recent performance suggests that PEPE is facing a challenging period as it drops a further 11.54%, creating scarcity within the crypto sphere. This drop has led analysts and investors alike to reconsider their portfolio strategies. Amidst the uncertainty surrounding PEPE, many are turning their attention to a rising star in the meme coin world: Mpeppe (MPEPE).
PEPE’s Price Decline and Market Sentiment
Pepe Coin (PEPE) surged to popularity in early 2024, reaching an all-time high of $0.00001718. The excitement around the token was palpable, with many investors hoping it would continue its upward trajectory. However, as is common in the highly volatile world of meme coins, PEPE’s price soon began to falter.
At the time of writing, PEPE is struggling to maintain momentum and has dropped by 11.54%. This latest decline has brought the token down to its current price level of $0.000007359. The token’s price stagnation over the last 30 days, with only a minimal increase of 1.29%, has frustrated many early investors who had hoped for a quick rebound.
Despite the current challenges, some analysts remain optimistic about PEPE’s future. The established support level at $0.000007359 is seen as critical. If the token manages to hold this support, it could potentially rally back to its $0.00001717 price mark. However, with the overall crypto market facing turbulence and uncertainty, the question remains whether PEPE can sustain any long-term growth.
Mpeppe (MPEPE): A Meme Coin to Watch
While PEPE’s performance has been underwhelming as of late, the rising meme coin Mpeppe (MPEPE) is drawing increasing attention. Investors seeking to balance their portfolios and hedge against PEPE’s potential risks are looking at Mpeppe as an exciting alternative.
Mpeppe (MPEPE) has gained significant traction, particularly due to its casino-focused ecosystem, which appeals to both meme coin enthusiasts and online gaming investors. Unlike many other meme coins that rely purely on hype, Mpeppe is building a utility-driven platform that merges entertainment with crypto investments. This combination of humor and function is proving to be a winning formula.
In its presale, Mpeppe has already raised $1.8 million, with 97% of tokens sold. The presale’s success demonstrates strong community support, and the token has surged by 150% in just a short period. As PEPE struggles to regain footing, Mpeppe’s rapid growth is creating waves in the market, with many anticipating even greater gains post-launch.
Why Mpeppe is Gaining Over PEPE
One of the primary reasons Mpeppe (MPEPE) is standing out is its ability to appeal to investors who are wary of purely speculative meme coins. The online casino industry is a massive market, and Mpeppe is leveraging this by offering users a chance to earn while they engage in entertainment. This practical utility gives Mpeppe a distinct edge over other meme coins like PEPE, which rely heavily on community-driven hype.
Moreover, Mpeppe’s (MPEPE) presale performance has been remarkable. Investors who got in early have already seen substantial returns, and as the presale moves into its final stages, excitement is building for what lies ahead. The Mpeppe community is growing rapidly, and with plans for listing on major exchanges, the token is poised for a potentially meteoric rise once it hits the open market.
Analyst Predictions: Balancing PEPE and Mpeppe
With PEPE showing signs of stagnation, analysts are advising investors to consider diversifying their meme coin holdings. PEPE’s established community and market presence make it a solid option for those who are willing to take on some risk in the hopes of a rebound. However, for those looking to balance their portfolios and reduce exposure to the volatility surrounding PEPE, Mpeppe is emerging as an ideal alternative.
The growing scarcity of PEPE, driven by the recent price drop, has made it more challenging for new investors to enter the market at attractive price points. On the other hand, Mpeppe’s current presale offers an opportunity for early adopters to get in before the token reaches the exchanges, potentially capitalizing on future gains.
With both tokens operating within the meme coin space, investors are weighing their options carefully. While PEPE may still have room for a rebound, the momentum behind Mpeppe (MPEPE) suggests that it could offer a more reliable path to growth in the short term.
Conclusion: Mpeppe Shines as PEPE Struggles
As Pepecoin (PEPE) faces an uncertain future following its 11.54% drop, investors are increasingly turning to Mpeppe (MPEPE) as a safer bet within the meme coin market. Mpeppe’s casino-focused platform, coupled with its strong presale performance, makes it an appealing choice for those looking to balance their portfolios amidst the volatility.
While PEPE has the potential to rebound, Mpeppe’s unique offering and rapid growth make it a standout in the meme coin space. As the presale continues to gain traction and Mpeppe prepares for its launch, it’s clear that this meme coin is one to watch closely in the coming months.
For more information on the Mpeppe (MPEPPE) Presale:
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Crypto analyst CasiTrades has provided a roadmap for the XRP price, revealing what could happen before the altcoin reaches a new all-time high (ATH). Based on her analysis, XRP could still witness a price decline before it potentially rallies past its current ATH of $3.4.
XRP Price Could Drop To $1.9 Before Rally To New Highs
In an X post, CasiTrades stated that in the event of a deeper flush, the XRP price could wick down to $1.90, suggesting that the altcoin could visit this low before it rallies to new highs. She believes XRP will ideally hold above this $1.90 and avoid dropping to new lows.
The crypto expert noted that the next move is critical. She claimed that if XRP gets that flush with bullish RSI divergence, it could mark the bottom before the altcoin rockets into Wave 3. However, CasiTrades warned that a break below $1.90 could force a reset of the entire new trend count.
Meanwhile, there is still the possibility that the XRP price might not drop to as low as $1.90. CasiTrades stated that $1.95 is the prime target, with subwaves heavily aligning there and a drop to $1.90 only likely to occur in the event of a deeper flush.
It is worth mentioning that US President Donald Trump recently announced reciprocal tariffs on all countries, a move which is set to ignite a global trade war and is bearish for XRP and the broader crypto market. As such, this development could be what sparks the deeper flush and send the altcoin to as low as $1.90.
A Drop To $1.4 Is Also The Cards
In an X post, crypto analyst Brandon asserted that the XRP price is about to have a massive breakout, to the downside. His accompanying chart showed that XRP could drop to as low as $1.4.
On the other hand, crypto analysts such as Ali Martinez have provided a bullish outlook for the XRP price. In an X post, he stated that XRP could be setting up for a rebound. The analyst further remarked that the altcoin is holding above $2 while the TD Sequential flashes a buy signal.
Crypto analyst Javon Marks also recently predicted that Ripple’s coin could surge 44x and reach as high as $99. He alluded to the 2017 bull run as the reason why he is confident that the altcoin could record such a parabolic rally.
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.
Shiba Inu price is on a strong bearish trend, with price indicators recording losses in all time frames. The highly popular meme token now threatens to add an additional zero to its value if the current bear run continues for much longer. Even with Shibarium, SHIB’s layer-2, reaching the milestone of 1 billion transactions recently, the token’s price has not responded positively to this milestone.
Falling Shiba Inu Price Affects Holder Profitability
According to current data, SHIB is down 4.6% in the past 24 hours, 14.7% over seven days and a substantial 54.9% over the past year.
The current context for the SHIB price appears tough for the majority of investors. Based on on-chain analytics, 62% of SHIB investors are at the moment in a loss, while merely 34% are in profit and 4% are breaking even as per IntoTheBlock data.
SHIB has fallen 85.9% from its all-time high of $0.00008616 on October 28, 2021, over three years ago. This extended period of decline has made many of the investors who bought during the bull run in 2021 underwater on their holdings.
The token reflects a high ownership concentration with 74% of SHIB owned by major holders. The concentration may be behind price volatility. This is due to the fact that the moves by the large holders tend to have disproportionate impacts on the market. Major volume trading in the last week has hit $184.02 million which indicates sustained activity even as the price goes down.
Shibarium Milestone Fails To Reverse Trend
Despite Shiba Inu’s layer-2 scaling solution, Shibarium recently achieved a major milestone of 1 billion transactions. However, this accomplishment has not translated into positive price action for SHIB. This disconnect between ecosystem development and token price shows the current market’s focus on overall trends rather than project-specific achievements.
Shibarium is a key component of the Shiba Inu ecosystem that focuses on reducing transaction fees, increasing processing speed, and enabling more advanced applications within the SHIB ecosystem.
The continued negative price action despite reaching such a substantial transaction milestone raises questions about what catalysts might eventually reverse SHIB’s downward trend.
Will Shiba Inu Token Burns Aid In Price Pump?
The Shiba Inu community has historically highlighted token burns as one possible method of driving scarcity and price support. Recent burn behavior has been spotty and inadequate to have any real effect on the enormous Shiba Inu token supply.
After a recent spike in burn rate of more than 12,000%, the last 24 hours have seen the burn rate decline by 60%. During this period, only 37.6 million SHIB tokens were removed from circulation as per Shibburn data.
Token burns continue to be a mainstay narrative among the SHIB community. However, the volume of burning has to rise in order to have an effect on the token’s supply that can be measured. The 17.88% hike in trading volume in the last 24 hours to $311.14 million gives some indications of market action. This potentially could be being driven by the larger holders stockpiling at lower prices.
Vignesh
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.
Over time, Ethereum, the second-largest crypto asset and largest altcoin, has often spearheaded an Altcoin Season due to its significant performance after the market shifts from a Bitcoin season to an altcoin season in each bull market cycle. In spite of this waning performance of the king of alts, an altcoin season is still likely to occur in the near term.
Is An Altcoin Season On The Horizon?
With the heightened volatility and BTC’s robust market dominance, the possibility of an Altcoin Season happening in this cycle is looking slim. However, an on-chain expert and the CEO of Alphractal Joao Wedson believes that this sustained Bitcoin’s dominance could be laying the groundwork for a huge altseason in the foreseeable future. Historically, altcoin seasons have followed periods of Bitcoin dominance.
Joao Wedson highlighted that Ethereum’s waning performance has strangled other alts in the ongoing market cycle, but an altcoin season “is just a matter of time.” With the alt market struggling to gain dominance and ETH facing headwinds, traders hope for a shift that might spur renewed gains across the altcoin sector.
In the X post, Wedson delved into altcoin market dominance with Ethereum, revealing an interesting trend. According to the expert, altcoin dominance is declining, while altcoin dominance excluding Ethereum and Stablecoins has remained sideways and in a neutral zone since late 2022.
This development implies that Bitcoin has drained most of Ethereum’s market capitalization. Presently, Bitcoin’s dominance has increased to 62%, and BTC and Stablecoin’s dominance has risen to nearly 71%. Meanwhile, Ethereum and all other alts dominate only 29% of the general market.
Bitcoin and Stablecoin‘s market dominance may seem like a threat to the upcoming altcoin season. However, the interesting part is that the higher the BTC and Stablecoin dominance rise, the more robust the next altcoin season will be, which Wedson claims is only a matter of time away.
BTC And Stablecoins Stealing The Spotlight
Daan Crypto Trades, a technical expert and trader, has also shared insights on the subject, highlighting that the altcoin market cap has declined sharply, leading to a drop in altcoins’ dominance. Although it was on track for a while, the steady growth of Bitcoin and Stablecoins has put the alt dominance under serious pressure within the crypto market.
Given the dilution amongst them, individual alts have performed horribly. Thus, for altcoins to regain dominance over Bitcoin, Stablecoins, and other major assets, the ETH/BTC pair needs to gather some momentum first.
Daan Crypto Trades claims Ethereum often plays a massive role in getting a wider altcoin performance. This is because many liquidity pools are denominated in ETH, and most coins are developed on it. Therefore, for altcoins to run, this wealth effect for ETH and majors is essential.
Until this is the case, the analyst urges investors not to get into the market. Even though alt rallies are usually brief, there is frequently a high timeframe retest. Once it is evident that the trend is changing, Daan Crypto Trades believes this is the ideal time to get involved in the action.
Featured image from Unsplash, chart from Tradingview.com
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