Pepe Price Dips 14% Amidst Broad Crypto Sell-Off, Sponge V2 Bucks Trend with Promising Growth Outlook
Release: 2024/03/18 23:09 Reading: 456
The cryptocurrency market is witnessing significant fluctuations, particularly affecting meme coins, with Pepe’s value dropping by 14% to $0.00000898 as of 04:34 EST.
This downturn mirrors the broader market trends, as Bitcoin also sees a near 8% decline.
Meme coins, in general, are experiencing sharp drops, with Dogecoin and Shiba Inu each falling by 12%, and Floki Inu, previously a top performer, now facing a 17% reduction.
This market movement follows a notable shift away from meme coins, spurred by large investors moving their holdings to exchanges, signaling potential sales.
PeckShield’s report of Justin Sun transferring 7 billion FLOKI tokens to the Poloniex exchange underscores the sell-off.
The volatile nature of meme coins is highlighted by a statement from analyst @Coinmamba on X, comparing investing in them to a “modern-day Ponzi scheme.”
Despite the current market conditions, Pepe’s price finds some support at the 78.6% Fibonacci retracement level.
Technical indicators suggest the potential for further declines, with the Relative Strength Index (RSI) and Awesome Oscillator (AO) signaling a weakening bullish trend.
A breach below the 78.6% Fibonacci level could lead to further drops, potentially testing lower Fibonacci levels.
Conversely, a market rebound could elevate Pepe’s price, potentially surpassing previous highs.
READ MORE: Bitcoin Dips Below Weekly Lows Amid Market Optimism, Traders Eye Bullish Trends Despite Pullback
The meme coin Sponge V2, despite the market’s overall downturn, is capturing attention with promises of significant growth, buoyed by a successful predecessor and innovative features like a new staking model and a Play-to-Earn game.
Sponge V2’s upcoming listings on major exchanges and its impressive staking returns position it as a promising investment, according to experts and influencers like Jacob Bury.
Sponge V2’s revival, following an attack on its liquidity pool, includes a transition to the Polygon network and aims to capitalize on the meme coin market’s dynamics.
The project’s focus on absorbing liquidity and offering competitive annual percentage yields showcases its strategy to stand out in the crowded meme coin space.
The addition of a Play-to-Earn racer game further engages the community, offering $SPONGEV2 tokens as rewards for gameplay success, illustrating the project’s multifaceted approach to growth and investor engagement in the volatile cryptocurrency market.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Recent news
More>- 6 Best Cheap Crypto to Buy Now Under 1 Dollar November 25 – Arbitrum, Mina, Chiliz, Theta Fuel 11-26
- Pepe and Shiba Inu Face Strong Bearish Pressure: Is the Memecoin Market Losing Momentum? 11-26
- Meme coin prices dip; traders move to $40M Pepe Unchained ICO for massive potential gains 11-26
- Whale Moves 308B BONK Tokens to Coinbase Before Big Burn Event 11-26
- Why BTFD Coin, Pepe Coin, and Bonk Coin Are Top Meme Coins 11-26
- Missed the Pepe Coin Frenzy? This New Best Meme Coin is Here to Realise Your Dreams 11-26
- From Underdog to Top Dog: This Solana-Based Token Could Outperform Pepe by 100x This Year! 11-26
- Top 5 Crypto That Have Surpassed Their ATH In Recent Days! 11-26
- Best Wallet Soars Past $1M In Private Sale As Public Presale Starts Today For Web3 Wallet Built For 2024 Bull Run 11-26
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com