Shortly after crossing the $63,000 threshold, Bitcoin slipped into another correction phase with a sudden drop to below $60,000 earlier this morning.
Even though there was a danger of panic selling, the situation stabilized quickly after some major analysts on X predicted that this was only the calm before the storm.
In fact, they say that this is just a short drop that will be followed by a major rally in early September.
To make the most out of this rally, analysts are urging the market to pay attention to trending ICOs – particularly Pepe Unchained ($PEPU), Crypto All-Stars ($STARS), and Shiba Shootout ($SHIBASHOOT)
Bitcoin experienced a sharp decline in the last 24 hours, falling to a nine-day low of just above $58,000.
This drop triggered a sell-off across the market, with major altcoins like ETH, SOL, DOGE, LINK, AVAX, and SHIB seeing bigger losses. The total liquidations is just above $300 million.
Earlier in the week, Bitcoin tried to push past $65,000 but couldn't sustain that momentum and dipped to $64,000. By Tuesday, the situation got worse, and Bitcoin's price slipped to $63,000.
The decline accelerated in the past 12 hours, driving BTC down to $58,100—its lowest level since August 19th.
Although Bitcoin has since recovered slightly to trade above $59,300, it's still down by 4% over the last day.
As always, the news gathered many analysts to revise their predictions for Bitcoin. One analyst, Titan of Crypto, posted on X that Bitcoin could quickly bounce back to the $61,000 range. Others have similar predictions, as they believe this is just the calm before the next bull rally in September.
If you want to be ready for that next rally, you should look into meme ICOs like Pepe Unchained ($PEPU), Crypto All-Stars ($STARS), and Shiba Shootout ($SHIBASHOOT).
We’ll check out each one in detail below.
Pepe Unchained is a new cryptocurrency that combines the popular Pepe meme with a Layer 2 blockchain solution.
It was originally built on the Ethereum network and the main goal is to tackle the scalability problems that many meme coins often face by providing faster and more affordable transactions.
With this unique concept and robust technology, the project has already raised over $11M during its presale phase.
The key feature of Pepe Unchained is "Pepe Chain," a Layer 2 solution that improves transaction speed and reduces fees, making it much faster and cheaper than Ethereum. Because of this technology, $PEPU can replicate the massive gains $PEPE saw once it hit the market in 2023.
Crypto All-Stars ($STARS) is introducing a new feature called the MemeVault and it’s designed to provide huge returns after the presale period. The project has already raised $820,000 so far.
This new meme coin is looking to bring together the most popular meme coins on one platform and offer major staking opportunities for holders of Dogecoin, Shiba Inu, Pepe Coin, and other well-known meme tokens.
Through the Crypto All-Stars platform, users can stake these popular meme coins in the MemeVault and earn $STARS tokens in return.
The project's roadmap includes several important steps, starting with the presale and the launch of the staking platform, followed by the release of the $STARS token and the full release of the MemeVault.
Shiba Shootout ($SHIBASHOOT) is a Wild West-themed meme coin project that’s currently in its presale phase and has nearly reached $1 million in funds raised.
The token features "Cactus Staking" which offers a high APY and adds a gaming aspect by displaying growing rewards through a digital cactus.
Shiba Shootout also focuses on community engagement with features like Posse Rewards, which provides bonuses for referring friends, and Campfire Stories, where users can share and vote on different crypto stories.
The project's roadmap includes three phases. Phase one focuses on growth and getting listed on platforms like CoinGecko and CoinMarketCap. Phase two involves building partnerships and creating a private Discord group for token holders. Phase three plans to launch $SHOOTOUT merchandise, start a crypto education academy, and pursue listings on exchanges.
Even though Bitcoin dropped under $60,000 once again unexpectedly, seasoned analysts and crypto experts don’t seem worried. They say that this is just a temporary correction before the bull rally.
Right now, several meme project ICOs are trending, with tokens like Pepe Unchained ($PEPU), Crypto All-Stars ($STARS), and Shiba Shootout ($SHIBASHOOT) getting ready for potentially huge returns.
Want in on the action? Now is the best possible timing to invest early and reap the rewards once the projects explode.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.