Bitcoin and Ethereum have experienced a turbulent week with major price swings, but the situation is finally stabilizing. BTC tokens fluctuated between $61,500 and $58,632, while Ethereum dropped from $2,775 to $2,538 in just 48 hours. However, both cryptos stabilized at $61,000 and $2,650 in the past two days, showing signals of potential future gains.
However, the unstable price movements have increased fear among investors, and many smaller traders have decided to diversify their investments across numerous emerging cryptos. New meme coins such as Pepe Unchained, Crypto All-Stars, Base Dawgz, and Shiba Shootout are prevalent throughout August, so let's see what's going on in more detail.
Bitcoin Testing and Failing To Break $61K Resistance Level
Despite what many investors hoped for, Bitcoin has finally failed to gain enough support to break through the $61,000 resistance level. It tested the line four times in the past week, and even though it comes very close, it simply loses ground as it nears the next major resistance level.
However, BTC is slowly gaining support among a wider pool of investors, which could finally allow it to push over the $61K line. If that happens in the next few days, BTC could pick up the pace, considering that the first interest rate cuts are expected in September. If that happens, BTC will likely stay in an uptrend above $62,000, maxing out at around $66,000. The chips are falling in place, and with a bit of luck, the next crypto market bull run could start in the next few weeks.
Ethereum Stagnation Caused By Massive Institutional Sales
As you know, Ethereum ETFs have been live for months, but that has not allowed ETH to go over $3,400 since the beginning of the year. That said, BlackRock's iShares Ethereum Trust, also known as ETHA, is closing in on the $1 billion mark, with inflows surpassing $910 million in less than one month.
The recent massive token sales by institutional investors have hindered ETH recovery. However, if we look at the current trading volume, investor interest has increased, so a potential recovery may be around the corner. If ETF traders continue to buy ETH, its price could surpass $2,700, testing the next major resistance line at $2,900. That could then spark a bullish market, allowing ETH to reach prices as high as $3,400.
Meme Coins Preparing For Massive Gains
Meme coin markets have been the strongest-performing niche in the crypto industry this year. Countless newly released projects resulted in gains surpassing 4,000% earlier this year, and some even managed to gain over 2,000% during the most challenging weeks for established cryptocurrencies.
The meme coin craze is still in full swing, so investors worldwide are now pouring millions into a few emerging meme coins showing explosive growth potential. Let's look at a few popular options in the past few weeks.
1. Crypto All-Stars - Revolutionary Multi-Chain Meme Coin Staking Project
Crypto All-Stars is one of the most unique meme coins ever appearing on presale. Its goal is to set new industry standards by allowing token holders to stake over 12 meme coins, including SHIB, DOGE, BRETT, and others, to earn high returns in $STARS tokens. However, if they own $STARS tokens, their returns are increased by an impressive 300%.
The new approach to multi-token, multi-staking features shows massive growth potential, and the recently launched $STARS token presale has been an enormous success. It raised over $600K in less than a week, and plenty of tokens remain left to go. As you might expect, the entire project is made according to the best industry practices, including smart contact audits by SolidProof, and impressive staking rewards of over 2,600%. $STARS tokens are currently available for only $0.0013966, but their price will increase during every subsequent phase, so the sooner you invest, the higher the returns you'll get once Crypto All-Stars goes live on all major DEX listings.
2. Pepe Unchained - Layer 2 Meme Coin Built On its Own Blockchain
Pepe Unchained is another emerging meme coin with huge future goals. It's also the first Layer 2 meme coin built on the Ethereum blockchain, and it's designed to provide 100X faster transaction speeds at lower costs than its base chain. Pepe Unchained is built on its own blockchain, dubbed the Pepe Chain.
Apart from its Layer-2 design, Pepe Unchained also offers impressive staking rewards. Investors can stake their supply of $PEPU tokens as soon as they buy them for an APY surpassing 200%. With excellent tokenomics, high staking rewards, and overall great design, Pepe Unchained became one of the best meme coin releases this year.
The ongoing presale has raised over $9.5 million, and most of the funds came after the crypto crash a month ago. That alone proves that the owners of the $PEPU tokens have much to look forward to in the next few months. Pepe Unchained is advertised by dozens of the most popular crypto influencers and is among the most anticipated crypto releases.
3. Base Dawgz - Multi-Chain Staking Meme Coin With Impressive APY
Base Dawgz is another new meme coin project that is expected to yield high returns for early investors. It's built on Coinbase's Base blockchain but supports four other chains, including Ethereum, Solana, and Binance, allowing investors to trade tokens for native $DAWGZ coins from any of these chains.
The core of the project is its impressive staking APY of over 800%, excellent token allocation, and promise of future expansion. Investors who buy $DAWGZ tokens right now can stake them immediately, ensuring they get increased returns ahead of the initial listing. The ongoing ICO has raised over $3 million, showing that it has the potential to result in high returns in the long run. The current price for $DAWGZ tokens is only $0.007784, so make sure to invest early to enjoy the highest returns in the future!
4. Shiba Shootout - Meme Coin With Staking and P2E Reward Systems
Finally, we must mention Shiba Shootout, another highly anticipated meme coin set in a Wild West-themed world. It's primarily a community-focused project where users can enjoy everything from playing a shooter mobile game to sharing memes, staking, playing the Lasso Lottery, and much more.
Shiba Shootout offers something for everyone. It is fun and adventurous but offers high staking rewards surpassing 1,000% APY. The so-called Cactus Staking program is one of its major selling points, but players can earn native $SHIBASHOOT tokens through any of the available programs. The ongoing $SHIBASHOOT token presale is about to hit $1 million, but it's still got a long way to go, so the sooner you invest, the higher the returns you can expect to get.
Wrapping Up
The situation surrounding Bitcoin and Ethereum has truly been nerve-racking in the past couple of weeks, but with a little luck and a bit more support from investors, things could get better sooner than expected. BTC and ETH need a little push to enter another bull run, which will be reflected throughout the crypto market.
Cryptocurrencies are preparing for a massive expansion in the next few months, so investing in low-cost projects that are still available in presale is your best option right now. The projects mentioned above are all showing strong growth signs, so visit the official sites and invest today to enjoy massive returns by the end of 2024 and beyond!
