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The cryptocurrency market has remained relatively calm over the past few weeks, with bitcoin stuck in the $29000-$30000 price range. However, the dominant coin is starting to show some bearish sentiment, with BTC down by 3.7% over the past 7 days.
The negative outlook is more pronounced in Pepe Coin as the token has lost almost 14% in value over the past week.
However, while Pepe struggles, new meme token Evil Pepe Coin is showing rapid growth, raising over $650,000 in presales.
Pepe Coin Struggles As Crypto Markets Eye On Upcoming Fed Meeting
The lack of volatility in the market has not prevented the bears from taking control of Pepe’s price direction.
The coin is down about 14% over the past 7 days, bringing its total losses since July 14 to over 27%. Its technical analysis also points to further struggles as TradingView is giving a sell signal for the coin on the daily time frame.
Not only is $PEPE performing poorly along with most of the moving average indicators, but oscillator indicators like MACD have also turned red.
Pepe became a global meme coin phenomenon in April and May this year as its 10,000% rally turned many small-scale traders into millionaires. A pseudonymous trader turned his $273 investment in $PEPE into a $13 million profit.
However, Pepe’s lack of concrete utility prevents the token from breaking its ties with the wider crypto market. It has become very common for whales and smart money investors to dump their $PEPE holdings during times of market uncertainty.
Experts believe that the crypto market is ready for strong price movement in either direction, with the upcoming FOMC meeting on July 26th being a major deciding factor.
With recent inflation data pointing to a reduction in inflation levels, investors were certainly hoping that the Federal Reserve would stick to its decision to hold off on further interest rate hikes.
However, according to CME Fedwatch ToolThe chances of another 25 basis point hike are very high.
The restrictive monetary policy of the Fed has an adverse effect on the liquidity of the crypto market, resulting in strong depreciation across the market. High-risk assets like Pepe are particularly at risk.
Evil Pepe Presale Makes Headlines With Token Already Raised $650k
Despite the struggles of Pepe and other meme coins, new tokens are entering the crypto market with a bullish sentiment.
recently announced evil pepe coin The presale is off to a great start as it has raised $640k in just one week.
The meme coin legend has certainly struck a chord with the community as it calls on investors to get in touch with their “dark side” and put their faith in Evil Pepe Token.
Investors are queuing up to presell as copycat versions of Pepe, such as Pepe 2.0 and Saudi Pepe, have displayed significant price increases in recent days.
Token is a true low-cap gem and its presale hard cap is only $1,996,002. However, with 90% of the tokens available in the presale only, investors have ample opportunity to get in early at the set price of $0.000333.
The remaining 10% of the token supply has been reserved for decentralized exchange liquidity, which will be locked for one month. This prevents the possibility of price rigging or drag after launch.
Investors wishing to buy $EVILPEPE tokens can exchange them for ETH or USDT tokens instead.
Disclaimer: The above article is sponsored content, and is written by a third party, and is for promotional purposes only. It does not represent the opinions or views of Cryptopotatoes, and nothing herein should be construed as financial advice. Readers are strongly advised to independently and carefully verify the information. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above sponsored content.
Readers are also advised to read Cryptopotato’s full disclaimer.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off fees on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
The cryptocurrency market has remained relatively calm over the past few weeks, with bitcoin stuck in the $29000-$30000 price range. However, the dominant coin is starting to show some bearish sentiment, with BTC down by 3.7% over the past 7 days.
The negative outlook is more pronounced in Pepe Coin as the token has lost almost 14% in value over the past week.
However, while Pepe struggles, new meme token Evil Pepe Coin is showing rapid growth, raising over $650,000 in presales.
Pepe Coin Struggles As Crypto Markets Eye On Upcoming Fed Meeting
The lack of volatility in the market has not prevented the bears from taking control of Pepe’s price direction.
The coin is down about 14% over the past 7 days, bringing its total losses since July 14 to over 27%. Its technical analysis also points to further struggles as TradingView is giving a sell signal for the coin on the daily time frame.
Not only is $PEPE performing poorly along with most of the moving average indicators, but oscillator indicators like MACD have also turned red.
Pepe became a global meme coin phenomenon in April and May this year as its 10,000% rally turned many small-scale traders into millionaires. A pseudonymous trader turned his $273 investment in $PEPE into a $13 million profit.
However, Pepe’s lack of concrete utility prevents the token from breaking its ties with the wider crypto market. It has become very common for whales and smart money investors to dump their $PEPE holdings during times of market uncertainty.
Experts believe that the crypto market is ready for strong price movement in either direction, with the upcoming FOMC meeting on July 26th being a major deciding factor.
With recent inflation data pointing to a reduction in inflation levels, investors were certainly hoping that the Federal Reserve would stick to its decision to hold off on further interest rate hikes.
However, according to CME Fedwatch ToolThe chances of another 25 basis point hike are very high.
The restrictive monetary policy of the Fed has an adverse effect on the liquidity of the crypto market, resulting in strong depreciation across the market. High-risk assets like Pepe are particularly at risk.
Evil Pepe Presale Makes Headlines With Token Already Raised $650k
Despite the struggles of Pepe and other meme coins, new tokens are entering the crypto market with a bullish sentiment.
recently announced evil pepe coin The presale is off to a great start as it has raised $640k in just one week.
The meme coin legend has certainly struck a chord with the community as it calls on investors to get in touch with their “dark side” and put their faith in Evil Pepe Token.
Investors are queuing up to presell as copycat versions of Pepe, such as Pepe 2.0 and Saudi Pepe, have displayed significant price increases in recent days.
Token is a true low-cap gem and its presale hard cap is only $1,996,002. However, with 90% of the tokens available in the presale only, investors have ample opportunity to get in early at the set price of $0.000333.
The remaining 10% of the token supply has been reserved for decentralized exchange liquidity, which will be locked for one month. This prevents the possibility of price rigging or drag after launch.
Investors wishing to buy $EVILPEPE tokens can exchange them for ETH or USDT tokens instead.
Disclaimer: The above article is sponsored content, and is written by a third party, and is for promotional purposes only. It does not represent the opinions or views of Cryptopotatoes, and nothing herein should be construed as financial advice. Readers are strongly advised to independently and carefully verify the information. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above sponsored content.
Readers are also advised to read Cryptopotato’s full disclaimer.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off fees on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
