-->Crypto market in the red: Bitcoin drops below $66,000, what does this mean for altcoins and meme cryptos like Pepe (PEPE) and Dogwifhat (WIF)?

Is this the end of the meme crypto rally or can the crypto market recover before the Bitcoin halving?

Popular meme coins PEPE and WIF fall – Is this the end of the meme crypto rally?

The crypto market is under pressure from Bitcoin’s sharp decline below $66,000, with a downside move of more than 5.5% in the past 24 hours. This trend has also taken a heavy toll on altcoins, some of which have fallen even harder, and specifically certain meme coins that have been hit the most.

Dogwifhat (WIF)

The WIF price is down about -12% today to $3.86, after setting a new ATH of $4.80 next week. As a result, the meme coin has already experienced a correction, which became even stronger after the Bitcoin price tumbled today.

With Dogwifhat currently significantly above its 30-day average ($2.75), WIF’s price is very risky at the moment. In light of the bearish market conditions, there is a risk that the Relative Strength Index (RSI), currently at 63, could fall further to a neutral level. However, this situation opens up the possibility for a possible increase.

Dogwifhat rate chart
Dogwifhat rate chart – TradingView

However, unless Bitcoin reverses quickly, WIF could fall below its 30-day average this week and head towards $2. Fortunately, WIF has a strong community, which will make a drop below this level difficult, so there is certainly a chance of a bounce.

Pepper (PEPPER)

Contrary to WIF, PEPE today fell -13% below its 30-day average to settle at the $0.000007117 level. The Pepe price has therefore had a less strong week with a -15% decline, while WIF is still 23% higher than 7 days ago.

PEPE’s RSI has recently fallen below 50, indicating weakening momentum. This could soon make PEPE technically undervalued. Although the meme coin could fall even further this week, it is possible that a recovery will occur sooner or later, especially around the $0.000006500 level.

Pepe rate chartPepe rate chart
Pepe rate chart – TradingView

Given that the 30-day average is still strongly above the 200-day average (blue), PEPE still has a relatively strong position, which can be maintained in the near future.

When Bitcoin clearly rises again, it could be a good time to invest again in PEPE and/or WIF, which could potentially see another strong rally shortly afterwards. Since BTC determines the fate of meme coins, Bitcoin is the crypto to watch this week to determine when is the right time to buy alts and memes.

Which altcoins will revive in a new meme crypto rally?

The Bitcoin price fell below $61,000 2 weeks ago, before rising back towards $70,000 a few days later. This is a pattern that seems to be repeating itself, meaning this could just be a dip, which could soon see als and meme coins rise again.

In this part of the article we look at 3 promising meme coins that could rise sharply in the near future if Bitcoin recovers.

Slothana (SLOTH)

Slothana (SLOTH) is the new sloth from Solana who is tired of work life and strives together with investors for financial freedom with the help of crypto. The new crypto meme is available for presale and has already raised more than $5.9 million.

SLOTH is a meme coin that could rise very quickly in the short term after the presale is sold out and the token will be launched on its first exchange. Slothana gives early investors an equal opportunity by airdropping all presale tokens to investors’ wallets, meaning no one has to manually claim the tokens.

You can buy SLOTH for 1 SOL per 10,000 tokens and will get the tokens in your wallet soon. After SLOTH is launched on exchanges, the value of the token can rise sharply and early investors can make a lot of profit.

Smog (SMOG)

Smog (SMOG) is a meme coin that has rocked Solana’s meme coin market since February with the largest crypto airdrop Solana has ever seen. This airdrop will take place soon, while today is the last day you can participate in this airdrop.

You can join by purchasing SMOG and get even more SMOG by completing quests on Zealy and staking the token. Even on the last day of the airdrop, you can still earn massive airdrop points via Zealy, including by sharing tweets and visiting official websites.

Via the Smog website, you can buy the token, stake it and participate in the airdrop campaign on Zealy. Staking SMOG will give you a 10% discount on the current price, earn additional airdrop points, and passively earn additional SMOG with an APY of 42%.

Sponge (SPONGE)

Sponge (SPONGE) is one of the first meme coins of 2024 that has attracted a lot of attention and is up more than +200% since its launch. The meme coin based on SpongeBob is developing an exciting racing game with which you can earn extra tokens.

Sponge’s Play-to-Earn game will launch soon, potentially creating a new wave of hype for the meme token. Investors are taking advantage of the current crypto dip to buy and stake Sponge for an attractive form of passive income.

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You can buy and stake Sponge via the official website at an APY of 168% and potentially benefit from strong increases in the SPONGE price soon. After the project’s crypto game goes live, you will also be able to use the tokens to actively earn even more tokens.

Disclaimer: This article contains insights from independent authors and is not part of BitcoinMagazine.nl’s editorial content. This is not investment advice, please do your own research.

Source: https://bitcoinmagazine.nl/nieuws/pepe-en-wif-koersen-onderuit-door-bitcoin-daling-einde-van-de-meme-crypto-rally



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