Altcoin
XRP Hits New Low After $330M Liquidated By Holders, Community Finds Comfort in New Meme Defying Bearish Sentiment
The rollercoaster ride for Ripple’s XRP continues as the token hits a new low, following a massive $330 million liquidation by its holders. This major sell-off has sent shockwaves through the community, causing a sharp drop in XRP’s value as it teeters on a critical support level. However, amidst the bearish sentiment and panic selling, a new meme coin, Mpeppe (MPEPE), is emerging as a surprising beacon of hope for investors seeking to offset their losses.
Ripple’s Turmoil and the $330 Million Sell-Off
Ripple’s ongoing legal struggles with the U.S. Securities and Exchange Commission (SEC) have taken a toll on the cryptocurrency’s performance in 2024. Despite recent progress in the case, uncertainty still lingers, causing large holders to liquidate their XRP positions. This has led to a cascading effect on the market, with the token hitting new lows and facing significant resistance at key price points, except this new meme casino coin Mpeppe after rallying 150%. The $330 million liquidation represents a significant portion of XRP’s trading volume, and it’s a clear sign that some investors are losing faith in Ripple’s ability to recover in the short term.
XRP has been flirting with the 50-cent support level, and if it breaks below, analysts fear it could plunge further. As the bears tighten their grip on XRP, many holders are feeling uneasy, unsure if the worst is yet to come.
Mpeppe: A Meme Casino Coin Defying the Bear Market
While XRP struggles to regain its footing, the meme coin market is witnessing an exciting new contender—Mpeppe (MPEPE). Defying the overall bearish sentiment that has gripped much of the crypto space, Mpeppe is proving to be a bright spot for investors. Currently in Stage 4 of its presale, Mpeppe (MPEPE) has already raised nearly $2 million, with 66% of the tokens sold. Its presale success is a testament to the strong community support it has garnered, as well as its appeal as a meme coin that promises high returns.
Unlike XRP, which is weighed down by regulatory challenges, Mpeppe has been able to ride the wave of meme coin hype, similar to Dogecoin and Shiba Inu. Meme coins have historically performed well during market downturns, offering investors an opportunity for short-term gains even in the face of broader market declines. As more XRP holders liquidate their positions, many are redirecting their funds into Mpeppe (MPEPE), which they see as a potential 100x opportunity in the coming months.
Why Mpeppe Is Attracting Gobal Attention
Mpeppe’s rapid presale progress is one of the key reasons it has been able to capture the attention of the crypto community. With each presale stage, the token price increases, providing early investors with the potential for significant returns once it officially launches. The meme coin has managed to tap into the viral nature of internet culture, leveraging its meme status to create a dedicated and engaged community.
Another reason Mpeppe is attracting attention is its accessibility. Unlike more complex blockchain projects like XRP, which require a deep understanding of technology and regulatory landscapes, Mpeppe appeals to a broader audience of casual investors. Its simplicity and meme-driven marketing make it an attractive alternative for those looking for high-risk, high-reward opportunities.
Shift from XRP to Meme Sensation Mpeppe
The transition of funds from established cryptocurrencies like XRP to newer meme coins like Mpeppe (MPEPE) reflects a broader trend in the market. Investors, particularly retail traders, are increasingly seeking out opportunities with higher upside potential, even if they come with greater risk. Meme coins, with their ability to capture the imagination of the internet and generate viral hype, offer the possibility of quick gains, which is especially appealing in times of market uncertainty.
For XRP holders, the decision to liquidate and invest in Mpeppe (MPEPE) represents a shift in strategy. Instead of waiting for Ripple’s legal issues to resolve and for XRP to regain its former highs, many are opting for a more speculative play that could deliver outsized returns in a shorter time frame. With Mpeppe’s presale rapidly progressing and its community growing, it’s not surprising that XRP holders are finding comfort in this meme coin.
Mpeppe Emerges as a New Favorite Meme Coin
As XRP continues to struggle, weighed down by legal battles and a massive liquidation event, Mpeppe (MPEPE) is emerging as a favorite among investors looking to capitalize on meme coin hype. With its presale in full swing and strong community support, Mpeppe offers a promising alternative for those looking to escape the bearish sentiment surrounding XRP. Whether Mpeppe can sustain its momentum and deliver on its potential remains to be seen, but for now, it’s providing much-needed hope to a market in turmoil.
For more information on the Mpeppe (MPEPPE) Presale:
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https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ
The SHIB community is once again surfing optimistic tides within the crypto realm with a staggering 12,000% uptick in the Shiba Inu burn rate and a key Shibarium milestone achieved lately.
On Wednesday, April 2, burn statistics signaled that over 115 million coins were removed from the circulating supply, whereas transactions on the Layer 2 blockchain scaled new heights by topping 1 billion. In response, crypto market participants are now eyeing a highly bullish future for one of the most renowned dog-themed meme tokens amid bolstered market dynamics.
Shiba Inu Burn Rate Soars Over 12,000%, Supply Takes A Blow
Data from the official tracker Shibburn indicated that the SHIB burn rate surged 12,278.89% in the past 24 hours. Per the data, this massive surge rode the back of 115.89 million tokens removed from the supply in just a day.
Notably, the burn mechanism permanently reduces the circulating supply by transferring tokens to a null address. As a response, traders and investors weigh bullishness on the asset’s future prospects by considering the law of supply and demand.
With today’s massive burn saga, the total number of coins killed to date reached 410.72 trillion SHIB. Meanwhile, 584.35 trillion tokens still remain in circulation. Further, it’s worth mentioning that the wallet address “0xc439514852e132c” single-handedly burnt 92.64 million tokens, aiding the surge.
The impact of the constant Shiba Inu burns has kept investors hopeful about a price rally ahead. On the other hand, the coin’s layer 2 blockchain, Shibarium, is making monumental strides.
Shibarium Transaction Volume Hits 1B
SHIB’s marketing lead Lucie further revealed on X that the transaction volume on the Layer 2 blockchain has crossed the 1 billion mark. This chronicle has added to the optimistic buzz orbiting the crypto as it underscores its network’s rising popularity.
Soon after its launch in August 2023, the L2 network gained significant traction with its vast offerings. Ranging from seamless transactions and gaming opportunities to utilities with tokens such as TREAT, LEASH, and BONE, the L2 network offers users top-notch services in the Web3 space. The rising transactions add to bullish market sentiments, accompanying the Shiba Inu burn rate upswing.
Is SHIB Price Gearing Up For A Rally?
Despite the bullish advancements, SHIB price traded down nearly 4% today, resting at $0.00001224. The meme coin hit a low and a peak of $0.00001214 and $0.00001312 in the past 24 hours. Besides, the weekly chart also indicated a 20% crash in value. This bearish action has kept investors cautious over future aspects despite the Shiba Inu burn surge and Shibarium advancement.
Simultaneously, a renowned crypto market trader going by the name Nebraskangooner revealed that SHIB continues to reject resistance just like other altcoins. Crypto market participants continue to thoroughly monitor the token, given that some market stats indicate a bullish stance whilst the price wanes.
Also, CoinGape reported that the coin’s lead developer, Shytoshi Kusama, shared a cryptic location update recently. The abovementioned chronicles are some of the most buzz-worthy Shiba Inu news lately.
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 seems to be losing ground as Pi Coin price continues to face strong selling pressure, dropping another 4% and slipping under $0.70. Furthermore, the PI trading activity in the ecosystem is also dropping, showing that the investors’ euphoria is fading away quickly. Also, the PI token unlocks happening over the past week and so have led to a negative sentiment.
Pi Network Faces Backlash Despite PiFest Announcement
Earlier today, the Pi Core team announced that the inaugural PiFest on the Open Network saw record participation, with over 125,000 registered sellers—including more than 58,000 active sellers—and 1.8 million Pioneers utilizing Map of Pi, while highlighting Pi’s real-world utility worldwide.
However, the community doesn’t seem to be pleased by this. Commenting on the reality of the PiFest, Dr. Altcoin noted: “Since the PiFest started, Pi trading activity in the Eco-system has been at its lowest. The only trade was selling Pi for Cash”. While slamming the core team further, Dr. Altcoin stated that the Pi co-founders “seem out of touch with the realities of the everyday Pi Community”.
Other community members have slammed Pi Core Team’s communication approach, stating that it has remained unchanged since the enclosed mainnet phase. Critics like Dao world argue that the monthly updates are too predictable and insufficient for sustaining a large and engaged community.
Community members are now advocating for a more transparent communication strategy, with calls for a new leadership figure who has a deep understanding of cryptocurrency.
Pi Network Reduces Base Mining Rate by 1.18% This Month
The Pi Network’s base mining rate has dropped by 1.18% this month, now standing at 0.0029030 π per hour. This adjustment continues the network’s trend of gradual mining rate reductions. Some community members speculate that the declining interest in mining may be linked to Pi’s current low trading value on exchanges.
Despite talks of the Pi Network listing on top crypto exchanges like Binance and Coinbase, it hasn’t fructified so far. However, the BTCC exchange stated that it has added the cryptocurrency for spot trading, but it failed to add any upward momentum to the Pi coin price.
Where’s Pi Coin Price Heading Next?
Over the past seven days, the Pi coin price has tanked by 20%, with the next crucial support levels at $0.60. Furthermore, the correction under $0.70 comes with heavy selling pressure as daily trading volumes tanked 52% to $148 million.
Pi Network is currently forming a classic falling wedge pattern, testing the lower boundary near $0.687. A confirmed breakout with volume above the $0.71–$0.72 range could signal a bullish move, potentially pushing the price toward $0.75–$0.78, where key resistance levels lie.
Some market analysts still have the hope that PI cryptocurrency could reverse the trajectory to hitting highs of $3 and above.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
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.
PENDLE price has led the broader market gains this Wednesday, pumping nearly 8% amid bullish developments. Recent whale metrics indicated that large-scale investors bought roughly $8 million of the token, whereas a crypto exchange behemoth also listed it previously. In an upshot, traders and investors are eyeing more gains in the asset’s price due to recent advancements that underscore rising demand for the crypto.
PENDLE Price Jumps 8% Amid Bullish Whale Transactions
As of press time, PENDLE price witnessed an 8% uptick in value and exchanged hands at $3.05. The crypto’s 24-hour low and high were registered as $2.84 and $3.07, respectively.
On a keynote, the rising price action aligns with the heightened buying pressure bought by whales in recent days. The latest data from tracker Lookonchain showed that whales bought roughly $8 million worth of coins in the past 5 days. Per the data, five newly created wallets collectively accumulated the aforementioned amount.
Here Are The PENDLE Whale Addresses Captured:
-0x21fBA58b20f62397c015b1f5a15f742ad430dFA
-0x2EB48c60F4ea75fa0a0Ff5BB017EBD9f5981b8F5
-0x11DFEDf01B3FA824BbCB138159B2e6AFE43692a3
-0x981D8856f572Fb076626265114EAD67697dA5501
-0x6478C8681ADC3E7a0C17Aa1E1F0Ff16d1A61a8f6
Why Are Whales Accumulating?
Meanwhile, the rising whale accumulations and PENDLE price upswing fall in line with another bullish development. Crypto exchange behemoth Coinbase unveiled a listing for the token at the end of March last month.
As a result, large-scale investors are hoarding massive amounts of the token, aiming to capitalize on emerging market opportunities.
Historically, listings on top crypto exchanges usually usher a bullish price action as they substantially increase an asset’s market exposure, thereby welcoming more funds from investors. CoinGape previously reported another similar chronicle, wherein cryptos BROCCOLI and TUT price rallied with their listings on Binance. Similarly, the Coinbase listing appears to be a vital catalyst for driving the whale frenzy and recent price upswing.
Can Bullish Developments Fuel Bull Run Ahead?
Usual market sentiments continue to tilt in favor of bulls, given the Coinbase listing and rising whale accumulations. Further, a renowned crypto market trader has poured additional optimism surrounding the coin’s future price action with his bullish prediction.
Analyst AMCrypto recently took to X, revealing that PENDLE price is forming an “inverse head and shoulder pattern.” This pattern formation suggests that a potential trend reversal from bearish to bullish is brewing amid bullish advancements.
In light of this dynamic, the analyst predicts that a break above $3 paves the way for a massive rally ahead. As mentioned above, the coin is currently trading above this price level. As a result, market watchers continue to weigh further bullishness on the asset’s long-term price prospects.
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.
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