Ethereum
Huge $690M sell-off sends Ethereum below $3,300 as institutions turn to Raboo and PEPE
Rumors that institutional investors are turning away from established cryptocurrencies like Ethereum and toward lesser-known altcoins like Raboo and PEPE are circulating in financial markets. Raboo’s unique innovation along with its current pre-sale appears to be the strong point so far, with analysts predicting a massive increase post-launch.
Read on to learn more:
Ethereum Struggles to Rebound After $3,300 Price Drop
A selloff of over $690 million in Ethereum and Bitcoin caused a sharp price decline, sending ETH below $3,300. Ethereum has made a slight comeback from its weekly low of $3,249, trading today at $3,347.
While the exact causes of this price drop are still unknown, experts believe that a number of variables, such as possible whale activity and profit-taking by short-term investors, are at play.
The current price behavior, however, suggests a possible short-term reversal. The rebound above $3,300 suggests that there is buying pressure in the market again. This could be because investors see the decline as an opportunity to acquire more Ethereum at a discount.
Some experts believe that a sustained move above $3,450 could signal a broader market reversal. Others warn that the recent sell-off could be a harbinger of a more prolonged bear market, especially if the price falls back below $3,300.
Pepe Coin (PEPE) clings to $0.000012 despite Ethereum rollercoaster
While the second largest altcoin, Ethereum, is struggling with a rollercoaster week, meme coin Pepe (PEPE) appears relatively stable, hovering around $0.000012. PEPE appears largely unaffected by the current market movement.
This continued bullish trend has led some analysts to predict a potential rise in the coming months, reaching as high as $0.000058 by the end of the year. This optimism likely stems from the current meme coin craze and PEPE’s recent momentum.
However, others are predicting a significant decline over the next month, potentially dropping below $0.00001. It is still difficult to predict the most likely outcome. But if the recent price action of the coin is to be believed, Pepe holders can expect a positive movement in the remaining days of the month.
Investors flock to Raboo due to falling prices of major cryptocurrencies
While major coins like Ethereum appear to be in their bearish phase, analysts are bullish on Raboo with many predicting a staggering 10,000% growth potential. Some experts predict a staggering 233% growth during the token presale, which has already exceeded $1.6 million.
The platform also plans NFTs and exclusive merchandise, providing additional revenue streams and exciting opportunities for holders. For those looking for passive income, Raboo will offer staking options with attractive rewards and its AI-backed meme coin is one of these incentives.
According to Bloomberg Intelligence, “the generative AI market is poised to explode, reaching $1.3 trillion over the next 10 years.” Raboo is well positioned to capitalize on this burgeoning market.
Now in its fourth stage of its token presale, Raboo is attracting attention with its unique features. One of the highlights is Rabooscan, an AI tool that scours social media platforms for the most popular memes, ensuring that only high-quality content circulates.
Raboo tokens are currently offered at a pre-sale price of $0.0048, making them an attractive entry point for early adopters.
Conclusion
With Raboo’s pre-sale price already exceeding $1.6 million and over 2,500 investors on board, the project looks quite promising.
Its pre-sale has generated a lot of frenzy and hype in the market, as several holders remain keen to invest in this project early.
You can participate in the Raboo pre-sale here:
Telegram: https://t.me/RabootokenPortal
Twitter: https://twitter.com/Raboo_Official