It’s been a rough week for crypto, with most meme coins feeling the heat.
Dogecoin has plummeted below key support levels, while Pepe has also seen a sizable price slide.
However, one expert thinks a new presale project, Flockerz, could be a hidden gem waiting to explode in the next bull rally.
Meme Coin Space Flips Bearish as DOGE & PEPE Tumble
Dogecoin and Pepe, two of the biggest meme coins, are taking a beating this week.
DOGE has dropped to $0.391, a 10% fall since Monday, wiping out most of the gains from the weekend’s rally.
The coin’s technicals look bearish, too.
DOGE dipped below its 50-period EMA on the 4-hour chart and is now struggling to break back above it.
This suggests we might see further downside.
PEPE isn’t faring any better, tumbling 12% to hit $0.0000812, which marks a two-week low.
Making matters worse, PEPE’s trading volume has dried up, falling 12% in the last 24 hours alone.
These drops could signal trouble for the wider meme coin space.
After weeks of big price surges, traders seem to be cashing in and exiting the market.
That poses the question: could the meme coin craze finally be losing steam?
Crypto Market Cools Down – More Trouble Ahead for Meme Coins?
Interestingly, it’s not just meme coins that are struggling.
The entire crypto market is also seeing a pullback, with Bitcoin sliding to $93,500 after nearly hitting $100,000 last week.
This slide has made investors less enthusiastic about riskier assets – like DOGE and PEPE.
Market data highlights this change in sentiment.
For the first time in 10 days, spot Bitcoin ETFs saw more money flowing out than in.
Also, the Coinbase Premium Index dipped into the negative, hitting -0.11 last night.
This suggests that big institutional investors might be pulling back, creating a ripple effect across the entire crypto space.
The futures market has also been hit hard.
Over $406 million in positions were liquidated in the past 24 hours, with long positions bearing the brunt of it at $277 million.
With the holidays coming up, this mix of less institutional investment and increased volatility spells trouble for meme coins, which tend to experience wild price swings when things are uncertain.
And that’s what we’re seeing with DOGE and PEPE right now.
Is Flockerz Bucking the Trend? New Vote-to-Earn Project Raises $3.4M & Attracts Huge Price Forecasts
Despite all the market turmoil, one new project is still attracting attention.
That project is Flockerz, which has raised $3.4 million in presale by offering FLOCK tokens for $0.0061504 each.
And according to crypto expert ClayBro, this is just the start.
He pointed out that established meme coins might be struggling, but Flockerz is different.
ClayBro believes its Vote-to-Earn system and strong community give it an edge over the competition.
Using this system, investors can have a say in Flockerz’s future direction – and earn rewards for doing so.
The more active someone is in governance, the more they’ll earn.
Also, ClayBro highlighted Flockerz’s high staking rewards, currently at 655% per year.
He suggested this combination of governance and rewards could be the key to post-listing demand.
Looking ahead, ClayBro thinks FLOCK could be primed to rally.
His predictions range from a 6x return on the conservative end to a 28x return if market conditions flip extremely bullish.
Unsurprisingly, ClayBro’s positive comments have led to massive excitement in the Flockerz Telegram channel.
Many community members believe FLOCK could outpace DOGE and PEPE’s returns once the market picks back up.
All in all, the signs look promising for this crypto DAO project.
Despite the current bearish conditions, there’s a real belief that Flockerz could be a potential star in the next bull run.
Visit Flockerz Presale
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