Crypto majors remain under pressure as fear remains the key emotion in the cryptocurrency space. However, enthusiasts appear optimistic of Bitcoin recovery based on its stability.
At the same time, fresh projects with robust growth potential are gaining traction as meme lovers shift their focus from the meme tokens built on the concept of a joke. This explains Bitcoin Pepe success just two months into its presale. As the world’s only Bitcoin meme ICO, crypto enthusiasts are thrilled about its concept of launching meme tokens on the reliable Bitcoin network.
Ethereum price under pressure as investors opt for Bitcoin ETFs
As the top altcoin, Ethereum price tends to move in tandem with Bitcoin’s price performance. However, as the leading crypto shows signs of recovery, Ethereum remains under pressure; trading below the 25 and 50-day EMAs.
In addition to the macroeconomic uncertainties, challenges within its ecosystem as also weighing on the major. Subsequently, ETH spot ETFs recorded daily net outflows of $5.98 million on Monday compared to BTC spot ETF daily inflows of $1.47 million.
Data from SoSoValue further shows a streak of daily outflows since 25th March. During that timeframe, there have only been three sessions of inflows and one instance of zero flows. On Monday, 7 out of the top 8 ETH ETFs recorded zero flows with Fidelity’s FETH reporting net outflows of $7.78 million.
In the short term, I expect $1,415 to remain a steady support zone. More specifically, the range between $1,515 and the 25-day EMA at $1,750 will be worth watching. Besides, the bulls need to attract enough buyers to bolster Ethereum price to the 50-day EMA at $1,972 if its recovery is to hold.
Bitcoin Pepe booming in stage 8 as investors shift focus from majors
Two months into its presale, Bitcoin Pepe’s presale is booming as enthusiasts flock to amass BPEP tokens at its currently affordable price. With the first 7 stages already sold out, the project that started at a token price of $0.0210 is currently at $0.0295 and is set to reach $0.0864 at the end of the 30-stage presale.
As the price increases by about 5% with each stage, early adopters have already secured 33.8% in cumulative gains. By the time the token hits the public shelves in Q2, the long-term holders will have grown their investment by 311.4%. What’s more, its infrastructure and virality hints at 100X growth in the coming months.
The attractiveness of this new entrant is largely founded on its ability to bring the meme culture home to the reliable Bitcoin network. As the world’s only Bitcoin meme ICO, it has employed the meme layer 2 solution to allow investors launch memecoins on the reliable network.
Besides, its mission of “building Solana on Bitcoin” ensures that the holders enjoy the best of both worlds; Bitcoin’s reliability and Solana’s speedy transactions and lower fees. As meme lovers jump on this irresistible opportunity, the project has already raised over $6.6 million. Hurry up and buy Bitcoin Pepe here.
Shiba Inu dumped for its low liquidity
Crypto enthusiasts are looking forward to a recovery after their preferred assets recorded poor performance in the year’s first quarter. However, low liquidity tokens like Dogecoin and Shiba Inu continue to suffer as investors opt for the all-steady Bitcoin.
In the past 24 hours, Shiba Inu price has dropped by 1.375 as highlighted on CoinMarketCap. Besides, a look at its daily price chart shows it finding resistance along the 25-day EMA around $0.00001250.
Even with a rebound past that level, I expect the meme coin to continue trading below the crucial support-turn-resistance level of $0.00001357 as buyers remain hesitant to place huge bets on the asset. On the lower side, $0.00001025 is set to offer steady support.
Read more: Shiba Inu price prediction: mapping out potential SHIB scenarios
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