The cryptocurrency market has experienced a period of relative stability in recent weeks, with Bitcoin trading within the $29,000-$30,000 range. However, some major tokens are starting to show bearish sentiments, with BTC down 3.7% in the last 7 days.
One token that has been particularly affected is Pepe Coin, which has seen a significant drop of nearly 14% over the past week. This brings its total loss since July 14 to over 27%. Technical analysis also indicates further struggles for Pepe Coin, with TradingView giving a Sell signal for the token in the daily time frame.
Not only are moving average indicators underperforming for $PEPE, but oscillator indicators such as MACD have also turned red. Despite its previous rally that turned small-scale traders into millionaires, Pepe’s lack of concrete utility prevents it from breaking its correlation with the broader crypto market. Dumping of $PEPE holdings by whales and smart money investors during market uncertainty has become a common occurrence.
Experts believe that the crypto market is poised for a significant price movement in the near future, with the upcoming FOMC meeting on July 26th being a major determining factor. The Federal Reserve’s monetary policy decisions have a direct impact on the liquidity of the crypto market, and any further interest rate hikes could lead to a strong depreciation across the market. High-risk assets like Pepe Coin are particularly vulnerable in such scenarios.
While Pepe Coin struggles, a new meme token called Evil Pepe Coin has emerged with bullish growth. The token has already raised over $650,000 in its presale, attracting investors with its unique narrative that encourages them to embrace their “dark side” and have faith in the Evil Pepe token.
Investors are showing interest in the Evil Pepe Coin presale, as other copycat versions of Pepe, such as Pepe 2.0 and Saudi Pepe, have experienced significant price growth in the recent past. The presale has a hard cap of just $1,996,002, with 90% of the tokens available during this phase at a fixed price of $0.000333. The remaining 10% of the token supply will be reserved for decentralized exchange liquidity and locked for one month to prevent price manipulation.
Investors can participate in the presale by swapping ETH or USDT tokens for the $EVILPEPE token. This new token presents an opportunity for early investors to get involved in a low-cap gem with potential for growth.
Disclaimer: This article is for promotional purposes only and does not represent the opinions or views of Crypto Time. Readers are advised to independently verify the information and exercise caution when investing in cryptocurrencies.