Pepe Coin

Pepe

Bitcoin

Crypto Price Prediction: On Tuesday, the crypto market witnessed another wave of <a href="https://coingape.com/bitcoin-crash-why-btc-price-falling-today/" rel="noopener noreferrer nofollow">selling pressure</a> which plunged its market cap to $2.4 Trillion, registering a 6.28% intraday loss. The leading cryptocurrencies Bitcoin and Ethereum recorded a 6-7% since yesterday, while Solana(SOL) and XRP plunged 11 % and 4% respectively.
Today’s downturn could be accelerated by significant outflow from BTC ETFs as observed on March 18th. Concurrently, the meme coin sector is under considerable sell-off pressure, with prominent assets like DOGE, PEPE, WIF, FLOKI, and BONK experiencing substantial double-digit losses.&nbsp;
This steep decline is likely a result of investors locking in profits, given that these assets were previously in an overbought state following the rally in late February to early March.
Also Read: <a href="https://coingape.com/trending/is-meme-coin-hype-coming-to-an-end/" rel="noopener noreferrer nofollow">Is Meme Coin Hype Coming To An End?</a>
<h2 id="b-1-bitcoin-btc-b">1)Bitcoin (BTC)</h2>
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 Bitcoin (BTC)| Tradingview
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<a href="https://coingape.com/bitcoin-news-oklahoma-becomes-12th-state-to-pass-btc-rights-bill-in-us/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> is the first decentralized digital currency that enables peer-to-peer transactions without the need for intermediaries like banks, using blockchain technology to maintain its integrity and security.
The <a href="https://coingape.com/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin price</a> has been witnessing an active correction trend for the past six days, which tumbled its value from $73800 to $63300, registering 14.2%. Moreover, the market cap plunged to $1.238 billion, while the 24-hour trading volume wavers around $65 billion.
The recent surge in selling pressure can be traced back to significant withdrawals from Spot BTC ETFs on March 18th. According to Wu Blockchain, there was a notable outflow from Bitcoin spot ETFs, totaling $154 million — marking the first such occurrence in almost two weeks.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 According to SoSoValue, the total net outflow of Bitcoin spot ETFs on March 18 was US$154 million, the first single-day net outflow in 11 trading days. Grayscale ETF GBTC had a single-day net outflow of $642 million, setting a record single-day net outflow for Grayscale ETF… <a href="https://t.co/BMesXy7izt" rel="noopener noreferrer nofollow">pic.twitter.com/BMesXy7izt</a>
 — Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1769958549298520156?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 19, 2024</a>
</blockquote>
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With sustainable selling, the BTC price may plunge to $60400 and $56200, the horizontal level which coincides with 38.2% and 50% FIB levels respectively.
Also Read: <a href="https://coingape.com/japan-1-5t-pension-fund-eyes-bitcoin-and-gold-for-diversification/" rel="noopener noreferrer nofollow">Japan’s $1.5T Pension Fund Eyes Bitcoin and Gold for Diversification</a>
<h2 id="b-2-pepe-coin-pepe-b">2)Pepe Coin (PEPE)</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/n/nPSY6aq9.png" alt="BINANCE:PEPEUSDT Chart " width="1946" height="873">
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 Pepe Coin (PEPE)| Tradingview
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<a href="https://coingape.com/markets/will-pepe-coin-price-lose-0-00006-correction/" rel="noopener noreferrer nofollow">Pepe Coin</a> is a community-driven cryptocurrency that emerged from the meme culture surrounding the Pepe the Frog internet meme. It aims to provide a decentralized platform for creators and users to monetize meme content and engage in a fun, inclusive digital economy.
With a market capitalization of $2.67 billion, Pepe coin has made its way into the list of the top 50 cryptocurrencies. However, amid the current correction trend, the <a href="https://coingape.com/price/pepe-coin/" rel="noopener noreferrer nofollow">PEPE price</a> plunged from $0.0000108 to $0.00000581 registering a weekly loss of 46.4%.&nbsp;
The falling price is currently seeking support at a 50% Fibonacci retracement level at $0.000058, a pivot level for buyers to retake control. An analysis of the daily chart shows the further breakdown could witness support at the $0.00000466 and $0.000003 mark, while the renewed recovery may retest resistance at $0.00000812, and $0.0000108.
Also Read: <a href="https://coingape.com/sponsored/bonk-and-pepe-investors-double-down-with-defi-tech-token-priced-0-0115/" rel="noopener noreferrer nofollow">Bonk and Pepe Investors Double Down with Defi Tech Token Priced $0.0115</a>
<h2 id="strong-3-bonk-strong">3)BONK&nbsp;</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/g/gsnH6D6d.png" alt="BINANCE:BONKUSDT Chart " width="1946" height="873">
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 BONK| Tradingview
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BONK is a distinctive cryptocurrency project that has garnered attention within the Solana ecosystem. It positions itself as a community-focused token aimed at rejuvenating liquidity on Solana-based decentralized exchanges (DEXs). The coin’s market cap stands at $1.35 billion and has witnessed a trading volume of $360 Billion since yesterday.
The <a href="https://coingape.com/price/bonk/" rel="noopener noreferrer nofollow">BONK price</a> entered a profound correction trend in early March when the coin reverted from $0.000048. Within half a month, the asset lost a market value of 56.5% to current trade at $0.000021.&nbsp;
Under the influence of a descending trendline as dynamic resistance, the coin sellers may plunge this asset to lower support levels of $0.000018, and $0.0000147.
On a contrary note, a breakout beyond the overhead resistance will push the renewed recovery to $0.0000366, followed by $0.000048.
<h3 id="span-style-font-weight-400-takeaway-span">Takeaway</h3>
The cryptocurrency market prolonged its current correction trend as Bitcoin plunged below $65K on March 19th. While the broader market has responded similarly, the meme coin sectors witnessed an additional outflow, encouraging their holders to reanalyze their positions.
The post <a href="https://coingape.com/markets/crypto-price-prediction-memecoins-bled-todays-correction/" rel="noopener noreferrer nofollow">Crypto Price Prediction: Why Memecoins Bled Most In Today’s Market Correction?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Crypto Price Prediction: Why Memecoins Bled Most In Today’s Market Correction?

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