The first week of July witnessed a bearish trend for Bitcoin influenced by market events such as the absence of Spot Ethereum ETFs and significant BTC sales. However, an imminent CPI data release could potentially alter this trajectory, with a crypto analyst predicting a rate cut impact on Bitcoin prices. Amidst volatility, meme coins like Dogecoin, Shiba Inu, and PEPE face notable drops, while newcomer PawFury gains attention with a successful presale and promising outlook.
The first week of July has presented a bearish trend for Bitcoin, influenced by various market events such as the absence of Spot Ethereum ETFs on July 2 and significant BTC sales by the US and German governments. However, the release of the Consumer Price Index (CPI) data on July 11 may alter this trajectory.
Crypto analyst CrypNuevo shared insights on social media, suggesting that a potential rate cut indicated by the CPI data could positively impact Bitcoin prices. Historically, rate cuts tend to benefit the crypto market, and an imminent announcement could spark an aggressive price increase for Bitcoin.
The Bitcoin 1-Day chart shows a significant price drop to $54,000 over the weekend. CrypNuevo predicts that the price might continue to fall to the $51,700 support level before possibly embarking on a recovery towards $60,000, which is now seen as a resistance level.
Overall, the crypto market is attentively waiting for the CPI data release, which could significantly influence Bitcoin’s near-term price movements.
Popular meme coins like Dogecoin, Shiba Inu, and PEPE face notable price drops, while newcomer PawFury (PAW) garners attention with a successful presale and promising future outlook. Amidst the volatility in the meme coin market, PawFury stands out as an innovative and community-focused investment option.
In the past weeks, holders of the top altcoins coins—Ethereum, Shiba Inu, and PEPE—have experienced significant price declines. Dogecoin and Shiba Inu, established players in the meme coin market, along with the newer PEPE, have all seen losses exceeding 20%.
According to data from IntoTheBlock, Dogecoin dropped by 24% in the last seven days and 41.8% over 30 days. Shiba Inu lost 23.5% and 49% in the same periods. PEPE faced declines of 34.5% and 45.6%.
Profitability metrics indicate that 54.05% of Dogecoin addresses remain profitable, compared to 20.47% for Shiba Inu and 58% for PEPE. Current trading prices are $0.09535 for Dogecoin, $0.00001321 for Shiba Inu, and $0.000007991 for PEPE.
Amidst the turmoil among traditional meme coins, PawFury (PAW) emerges as a beacon of hope. With its successful presale raising $4.2 million and the current presale price at $0.01040, PawFury has already captured significant attention. Analysts predict that PawFury could reach $1 by the end of 2024, offering a potential 100x return. The excitement is further fueled by the upcoming listings on major exchanges. Once PawFury gets listed, the token will become more accessible to the broader masses, leading to a potential price increase.
PawFury’s blend of innovation and community engagement makes it a standout choice for investors looking to diversify and capitalize on new opportunities in the crypto market. Nonetheless, while PawFury seems promising, it is important to do your own research and understand the risks involved in cryptocurrency investments. To celebrate PawFury’s success, for a limited time, you can use the promo code TOKENBONUS10X to get a 10% extra bonus.
