Ethereum
Huge $690M Selloff Sees Ethereum Dip 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.
Keep reading to find out more:
Ethereum struggles to rebound after $3,300 price drop
A sell-off of over $690 million in Ethereum and Bitcoin caused a sharp price decline, which saw ETH fall below $3,300. Ethereum has made a slight comeback from its weekly low of $3,249, trading at $3,347 today.
Although the exact causes of this sell-off are still unknown, experts believe that a number of variables, such as possible whale activity and short-term investor profit-taking, come into play.
The current behavior of prices nevertheless suggests a possible reversal in the short term. The bounce above $3,300 suggests that there is buying pressure once again in the market. This could be because investors see this drop 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 precursor to a longer bear market, especially if the price falls back below $3,300.
Pepe Coin (PEPE) clings to $0.000012 despite Ethereum roller coaster
While the second largest altcoin, Ethereum, is struggling with a rollercoaster week, meme coin Pepe (PEPE) appears relatively stable, hovering around $0.000012PEPE does not seem at all perturbed by current market developments.
This continued bullish trend has some analysts predicting a potential rise in the coming months, potentially reaching $0.000058 by the end of the year. This optimism likely stems from the current coin craze and PEPE’s recent momentum.
However, others predict a significant decline next month, possibly falling 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 amid price declines of major coins
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 to feature exclusive NFTs and merchandise, offering 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 those incentives.
According to Bloomberg Intelligence, “the generative AI market is poised to explode, reaching $1.3 trillion in the next 10 years.” Raboo is well-positioned to capitalize on this burgeoning market.
Now in its fourth stage of its token pre-sale, 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 with over 2,500 investors involved, the project looks very promising.
Its pre-sale has generated a lot of frenzy and hype in the market as several holders remain eager to invest early in this project.
You can participate in the Raboo pre-sale here:
Telegram: https://t.me/RabootokenPortal
Twitter: https://twitter.com/Raboo_Official