Meme coins continue their downward trajectory following the recovery phase after the bull run. Due to significant price fluctuations, key projects in the meme space are facing bears and investor out-flow. Notably, Pepe (PEPE) and Dogwifhat (WIF) have experienced substantial price declines in recent days.
The recent downturn in PEPE and WIF reflects broader market sentiments for the declining trajectory of Bitcoin. Amid speculations for meme coins, Investors shift from meme coins to real-world cryptos for long-term viability and potential gains.
Investors offload 2.6 trillion PEPE tokens – Price Drops by 17%
The PEPE token is encountering significant challenges with broader market volatility, speculations surrounding Bitcoin, and fading meme coin hype. Investors are dumping their meme tokens as the price continues to drop. According to a recent report, 2.6 trillion PEPE were transferred from the KuCoin crypto exchange to an unidentified wallet, accelerating the price decline.
With its sluggish price momentum, PEPE has failed to overcome the resistance levels, intensifying the negative sentiment of the community. With a notable 17% price decline on the weekly chart after failing to sustain above the $0.0000086 resistance level, PEPE is trading at $0.000007.
PEPE is facing massive backlash after it failed to meet investor expectations As the $0.000008 support level is breached, analysts project further downward pressures in the upcoming days. If the bearish trend persists and selling pressures intensify, the meme coin is expected to drop below the $0.00000691 level.
WIF faces selling pressure with a projected price drop to $2.
As the cryptocurrency market experiences a downturn, Dogwifhat (WIF) performs no better than PEPE. Despite its recent strong performance, with a market cap nearing $4 billion, WIF is now encountering significant bearish pressure. Over the past 24 hours, WIF’s price has dropped by 10%.
Currently trading at $3.92, the WIF price has plunged from the $4.23 mark pushing investors to dump their tokens to mitigate potential losses. With sell-offs occurring and trading volume decreasing, analysts indicate a further drop in its price, potentially reaching $2 by mid-April.
Amid these speculations, meme coin investors are turning their attention to DTX Exchange (DTX), an emerging project currently in its presale phase, expected to yield 25x returns.
DTX Exchange (DTX) grabs the market with $100k raised in two days
DTX Exchange (DTX) aims to transform the trading sector with its hybrid exchange featuring 1000x leverage. The platform provides traders with a robust environment utilizing liquidity pools to help them engage in diverse trading options including forex, cryptos, equities, and contract-for-differences (CFDs).
The platform upholds the security of users through its non-custodial wallet approach, offering DTX wallets and multi-tier accounts. This ensures that the traders maintain full control of their private keys, safeguarding their investments. The platform’s no-KYC requirements make it particularly accessible for new traders, facilitating easy trading within the crypto sector.
DTX Exchange is recently making waves with its successful private seed round of $2 million. As the project enters public presale stage 1, it is witnessing a remarkable performance by raising $100k in just two days. With the token currently priced at $0.02, it is expected to moonshot in stage 2, reaching $0.075 making this an ideal time to participate in the project.
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