Hedera (HBAR) and Pepe coin price recovery hit a snug: is this altcoin an alternative?
Hedera (HBAR) and Pepe (PEPE) have experienced a rollercoaster ride in the past few days.
The recent events have brought both excitement and challenges to these altcoins, prompting investors to scrutinize alternative investments like the new Algotech ($ALGT) currently in presale stage.
Pepe coin price recovery hits a snug
Pepe (PEPE), a meme coin known for its volatile price swings, has faced a challenging period as its price recovery hit a snug.
Initially, the Pepe coin saw a significant surge, reaching a high of $0.00001 in mid-March 2024. However, this upward momentum was short-lived as the price has plummeted by over 10% in the last 24 hours, trading at $0.000007147.
The market dip is attributed to investors offloading their holdings in response to market dynamics.
Nevertheless, despite the recent dip, Pepe remains in the green on the weekly timeframe, boasting a 44% surge fueled by Coinbase’s listing of PEPE perpetual futures.
However, technical indicators on Pepe’s 4-hour chart signal continued downward pressure. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) have signalled major bearish flags, indicating strengthening sell pressure.
As Pepe battles with sellers, it rests on a key support level at $0.00000705. Should sellers breach this mark, the price could fall further to the next support at $0.00000631.
BlackRock’s Debacle: Hedera (HBAR) price pumps and dumps
Hedera’s HBAR token experienced a rollercoaster ride following a misunderstanding involving BlackRock.
Initially, HBAR doubled in value to $0.1772 on April 24, 2024, after an announcement suggesting BlackRock’s involvement in tokenizing a fund on Hedera’s blockchain.
There were reports that BlackRock’s U.S. Treasury money market fund had been tokenized on Hedera’s blockchain. However, BlackRock later clarified that it wasn’t directly involved in the tokenization process stating that it had “no commercial relationship” with Hedera Hashgraph (HBAR) and denied choosing Hedera for tokenization.
Archax CEO Graham Rodford also came out and clarified that while Archax chose to tokenize shares of BlackRock’s money market fund on Hedera, BlackRock was unaware of this decision and not actively involved.
This revelation caused a major shift in HBAR’s price and the token had plummeted by 14.66% to $0.1131.
Altgotech (ALGT) token sale hits $4M
Amidst the turbulence in the cryptocurrency market, Altgotech emerges as a promising project offering a decentralized algorithmic crypto trading platform.
Designed to revolutionize trading and investment with innovative technologies and automation, Altgotech aims to unlock superior trading potential for investors.
At the heart of Algotech is the ALGT token currently in its presale stage. The presale has garnered substantial interest, raising over $4,027,653.28.
With 27.06% of tokens remaining in stage 3, investors have the opportunity to purchase ALGT tokens at a price of 0.08 Tether (USDT) per token.
The token price is set to increase to $0.10 in the next stage, presenting an attractive investment opportunity for early adopters.
Conclusion
Amidst market uncertainties and fluctuating trends, Pepe (PEPE), Hedera (HBAR), and Altgotech (ALGT) stand as notable contenders navigating the dynamic landscape of the cryptocurrency market.
As these projects continue to evolve and adapt, their journeys reflect the broader narrative of innovation and resilience within the digital asset space.
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