Shiba V Pepe Witnesses Decline as Sellers Exert Downward Pressure
You may have noticed that Shiba V Pepe (SHEPE) experienced a 5% decline recently. This decline was caused by sellers who showed increased resilience and exerted downward pressure on the price. As a result, the price dropped significantly by 28% in a single day, trading at $0.000000013711 as of 9:39 a.m. EST. Additionally, the daily trading volume decreased by 6.5%, settling at $4 million. These developments raise questions about the future of SHEPE and whether it can recover from this decline. It is worth noting that SHEPE is set to be listed on the MEXC and Bitget exchanges on September 8, which could potentially catalyze a sustained bullish surge in the future.
SHEPE Price Recovers Retracement
Upon analyzing the chart, it is evident that SHEPE’s price has been on an upward trajectory since its introduction to the market and cryptocurrency exchanges. However, the price encountered resistance, leading to a market retreat. This retreat prompted the bulls to seek refuge near the lower bullish trendline. Additionally, the price is forming an ascending triangle pattern, indicating the potential for a bullish continuation. If the rebound along the lower trendline persists, it is likely to trigger a surge that propels the price beyond its previous peak. The Relative Strength Index (RSI) also indicates signs of a rebound, further instilling optimism among the bulls. Monitoring critical levels at $0.00000001595 and $0.00000001790 is crucial for potential upward price movements. However, if bearish pressure persists, a candlestick close below the bullish trendline could prompt the bulls to regroup around the $0.00000001092 support level. As an alternative to SHEPE, you may want to explore Wall Street Memes, which has been garnering considerable attention.
Wall Street Memes Tier 1 Launch Approaching
Wall Street Memes (WSM) is gearing up for its highly anticipated tier-1 launch on September 27, with about two weeks left. The project has already secured an impressive $25 million in funding, and investors eagerly await potential price surges. The WSM token is currently priced at $0.0337 per token during the presale phase, making it an attractive entry point for investors. The project has also garnered a substantial following of over 1 million users on social media platforms, generating more than 40 million monthly impressions. This highlights the significant reach of WSM and its potential for growth in the future.
WSM Staking Strategy Promotes Stability
WSM is implementing a high-yield staking mechanism to promote stability and encourage token staking. This mechanism helps mitigate abrupt sell-offs and potential market downturns. The accumulation of staked tokens forms a significant portion of the circulating supply, demonstrating the community’s embrace of this incentive-driven system. In the latest staking update, the aggregate staked WSM has surged past 212 million, offering an estimated annual percentage yield (APY) of 94%. Participants are rewarded with 75 rewards per block, and the total supply of WSM tokens is 1.6 billion. Furthermore, WSM has organized a $50,000 airdrop event for active holders engaged with their social media channels. This provides additional incentives for involvement in the WSM community.
Hot Take: Ripple Co-Founder Criticizes SEC Chair Gary Gensler
A prominent figure in the crypto industry, a co-founder of Ripple, recently criticized the Chair of the Securities and Exchange Commission (SEC), Gary Gensler. The co-founder accused Gensler of being “power-hungry” and “bullying” crypto firms, which has had a negative impact on the blockchain industry. This highlights the ongoing tensions between regulators and the crypto community. Additionally, there is speculation that the approval of a spot Bitcoin exchange-traded fund (ETF) could lead to significant inflows of capital into the crypto market. Some experts suggest that it would be wise to accumulate Bitcoin aggressively in anticipation of this potential development.
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