Bitcoin did manage to break through the $60,000 barrier earlier in August, but it has struggled since to maintain this psychological target.
While this much is clear, investors are all asking the same question – what’s keeping BTC’s price down?
Analysts say that there are multiple factors impacting the price and that the latest major one is the USA inflation report that triggered some massive selloffs.
However, there’s a silver lining in this situation – meme coins. Meme coins like Pepe Unchained ($PEPU), Crypto All-Stars ($STARS), and Shiba Shootout ($SHIBASHOOT) are in the zone right now and could end up bringing 100x profits once the presales end.
Let’s check out all the details below.
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Bitcoin Can’t Seem to Maintain the $60,000 Target – Can These Meme Coins Turn the Market Sentiment Around?
Bitcoin’s price recently took a hit after briefly touching the $61k mark. The decline was mainly driven by big selling pressure and some bearish trends in the market.
Bitcoin managed to surge past $61k on August 20th, but this trend didn’t last long. Market soon turned bearish and prices dropped once again.
Analysts point to a few factors behind this decline, including a rise in Bitcoin’s exchange reserves that suggests more people were selling.
The most significant factor seems to be the Fed’s decision on interest rates. It looked almost certain there would be a rate cut in September. Before the latest inflation data came out, there was a 50% chance of a 50 basis point cut.
For Bitcoin to push past this resistance and stay above it is important the market handles this selling pressure.
But if you’re looking for better profit alternatives, you’ll find them with meme coins like Pepe Unchained ($PEPU), Crypto All-Stars ($STARS), and Shiba Shootout ($SHIBASHOOT).
Below, we’ll check out the deets.
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Pepe Unchained ($PEPU) Is Bringing Back the Spotlight on the Famous Frog Meme – But This Time, with an Upgraded Blockchain
Pepe Unchained ($PEPU) is a hot new meme coin that’s currently in its ICO phase and it’s getting a lot of attention for its blockchain technology foundation.
Unlike many meme coins that are mostly driven by hype, Pepe Unchained is built on a Layer 2 blockchain – this means faster transactions, lower fees, and better security. It sets it apart from other meme coins that don’t have much technological substance.
Pepe Unchained is also the first Pepe-themed token on its own blockchain and features quick bridging between Ethereum and the Pepe Chain along with much lower gas fees.
The ICO for Pepe Unchained kicked off on June 13, 2024, and will continue until September 30, 2024. The way the tokens are being distributed is designed to support various parts of the ecosystem.
So far, the ICO has raised nearly $12 million, and the excitement around it keeps growing. Some investors are even speculating that $PEPU could outperform the original $PEPE once it gets listed on exchanges.
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Crypto All-Stars ($STARS) Can Change the Staking Game in Crypto Forever with Its Unique MemeVault Protocol
Crypto All-Stars ($STARS) is a meme coin ICO that’s releasing a unique “MemeVault” staking protocol.
This platform lets investors stake popular meme coins all in one place and earn rewards in $STARS tokens. Right now, the staking rewards have an impressive APY of 1472%.
The presale has already pulled in over $840,000 and it’s expected to go on until early December. However, with the current excitement, it could sell out sooner than that.
Like many meme coin projects, the ICO doesn’t require KYC (Know Your Customer) verification, and you don’t need to be on a whitelist to participate.
The project has also been audited by Coinsult and SolidProof, both of which gave positive feedback. So, investors can feel more confident that this isn’t just another rug pull.
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Shiba Shootout ($SHIBASHOOT) Is Based in a Western Crypto Sphere with Multiple Cowboy P2E Games and Exciting Capabilities
Shiba Shootout ($SHIBASHOOT) is bringing the Shiba Inu meme to another level with its exciting ICO run.
In this game, players participate in virtual shootouts and in cowboy-themed activities to earn rewards.
It’s set in the fictional town of Shiba Gulch, you can participate in gunfights, share tales around the campfire for rewards, and join meme competitions.
The project offers some unique features like “cactus staking,” where you stake your tokens on a digital cactus that grows as you earn more rewards.
There’s also a referral program called “Posse Rewards,” where you can earn extra tokens if you bring new players on board. Plus, the “Lucky Lasso Lottery” gives you a chance to win big prizes by wagering $SHIBASHOOT tokens.
So far, Shiba Shootout has raised over $1 million in its presale. With plans for more exchange listings and a roadmap full of exciting updates, Shiba Shootout might just become the next big thing in the P2E space.
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The Verdict
Bitcoin is still struggling to maintain the $60,000 threshold, but it’s not all doom and gloom in the crypto market.
In fact, there are some great opportunities right now to make a profit – particularly with memes like Pepe Unchained ($PEPU), Crypto All-Stars ($STARS), and Shiba Shootout ($SHIBASHOOT).
If you get in early with these trending meme ICOs, you can join the club of investors who end up making some serious gains once the listings go live.
Disclaimer: CaptainAltcoin does not endorse investing in any project mentioned in this article. Exercise caution and do thorough research before investing your money. CaptainAltcoin takes no responsibility for its accuracy or quality. This content was not written by CaptainAltcoin’s team. We advise readers to do their own thorough research before interacting with any featured companies. The information provided is not financial or legal advice. Neither CaptainAltcoin nor any third party recommends buying or selling any financial products. Investing in crypto assets is high-risk; consider the potential for loss. Any investment decisions made based on this content are at the sole risk of the reader. CaptainAltcoin is not liable for any damages or losses from using or relying on this content.
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