Fantom Coin plummets 15%, attention shifts to Evil Pepe raising $160,000

Fantom Coin plummets 15%, attention shifts to Evil Pepe raising $160,000

The Bleak Outlook for Fantom (FTM) Price Analysis

The blockchain industry has been closely following the price action of Fantom (FTM) since the start of the year. After a short-lived rally of over 230%, the price of FTM has been on a downward trend, causing concern among dedicated Fantom holders. Currently trading at a lowly $0.2575, many are wondering if FTM is destined to fall to zero.

The chart for Fantom price analysis reveals a dominant downside momentum since April 13, when the price touched the upper trendline. This event sent the price plummeting below the 20-day moving average (20DMA), which has acted as a strong resistance level ever since. On May 24, even the support from the 200-day moving average (200DMA) gave way, resulting in a free-fall to the current rock bottom price levels.

Recent attempts to break back above the 20DMA have been met with tough rejection moves, further adding to the bleak outlook for ongoing price moves. With the price hovering above the foundation price level at $0.025, Fantom holders are in a state of anxiety, hoping for a fundamental change to the stormy headwinds.

Technical indicators provide little reassurance, although the relative strength index (RSI) shows bullish divergence at 40.9. The swift rejections from resistance at the 20DMA on July 5 and July 14 could indicate a need for further cooling off to around 30. The moving average convergence divergence (MACD) also shows bearish divergence at -0.0029.

Despite the declining interest, there might be a glimmer of hope in Fantom’s risk-reward structure. The upside potential from the current price level targets a reclamation of the price level above the 20DMA around $0.31, which represents a possible 38% move. On the downside, strong local support is likely to be found at the lower trendline around $0.21, resulting in a small decline of 17.4%. This leaves FTM with a respectable risk-reward structure of 1.65, suggesting that all might not be over yet for this mid-rank altcoin.

The Rise of $EVILPEPE Meme Coin Sensation as a Fantom Alternative

While Fantom faces tough prospects, smart investors are turning to the latest and greatest meme coins for potential gains. One such project that stands out is Evil Pepe Coin ($EVILPEPE), which is not just a mere imitator but an innovator with exponential growth potential.

With an initial valuation of only $2 million, $EVILPEPE presents a ground-floor opportunity for potential investors. The coin’s success is not solely reliant on its team’s pedigree but also on its marketing approach. Leveraging influencer partnerships and strategic promotion across social media and crypto news outlets, $EVILPEPE ensures wide visibility, an essential ingredient for growth in this space.

The success of previous meme coins, such as Thug Life Token (THUG)andSpongeBob(SPONGE), demonstrates the efficacy of this strategy. With proven teams behind it, $EVILPEPE is expected to replicate or even surpass the success of its predecessors, which saw gains of up to 100x.

The Superior Tokenomics of $EVILPEPE

$EVILPEPE’s commitment to community is reflected in its initial token offering. During the presale, 90% of the coin’s supply is up for grabs, with a one-month lock on the remaining 10% for decentralized exchange (DEX) liquidity. This approach reassures investors about stability and fairness, avoiding pump-and-dump pitfalls and instilling confidence in its long-term value generation.

The $EVILPEPE team has set an ambitious market cap goal of $100 million, nearly 50x from its initial valuation. This, coupled with the team’s dedication to pushing boundaries in the meme coin space, underlines the immense growth potential of this new entrant.

In conclusion, the blockchain industry has been closely monitoring the price action of Fantom (FTM), which has faced a continuation of its bleak price action since May 2022. Meanwhile, $EVILPEPE has emerged as a promising alternative, leveraging its innovative approach and superior tokenomics to capture the attention of smart investors. As always, investing in cryptocurrencies carries risks, and it is important to conduct thorough research and seek professional advice before making any investment decisions.