How Low will Bitcoin Go as PepeCoin Struggles but Big Eyes Coin Builds Momentum
4 min read 31 May 2023, 07:56 PM ISTHow low will Bitcoin go as Pepecoin struggles with $1 target, but Big Eyes Coin flexes muscles as its presale enters the final week ahead of its launch on June 15
PremiumNew trends and concepts are constantly appearing in the dynamic world of cryptocurrencies, capturing the interest of both investors and crypto fans. The explosive growth of cryptocurrency, particularly Bitcoin (BTC), meme coins Pepecoin (PEPE), and the eagerly awaited Big Eyes Coin (BIG), is one phenomenon that is grabbing attention. These digital assets have sparked a level of excitement never before seen in the crypto community.
Assessing the Impact of Short-Term Holders on Bitcoin's Turning Point
According to Glassnode's Checkmate study, Bitcoin has come to a turning point. The future course is influenced by short-term holdings (STH).
1. Short-Term Holder Market Value and Realized Value (STH-MVRV): Compares the value of STH coins to the market capitalization of Bitcoin. A rating of 1.0 denotes a spot price of $26,500 given the current value of 1.022. When markets are bullish, it provides psychological support and calls for a quick recovery.
2. The STH-SOPR, or Short-Term Holder Spent Output Profit Ratio, measures the profitability of STH outputs. A reading below 1.0 indicates "loss dominance" and the possibility of a buyer-driven FOMO rebound.
3. Short-Term Holder Realized Profit/Loss Ratio: This metric takes the volume and profitability of STH transactions into account. A sustained decline below 1.0 can trigger a deeper correction.
4. The momentum of the Short-Term Holders' Profit/Loss Ratio: This metric captures quick changes in STH profitability. A decrease in momentum portends a looming deeper correction.
The inaction of Bitcoin hodlers undermines price objectives. Their participation inspires confidence and sparks interest. Market sentiment is at risk from lack of conviction. Increased hodler involvement promotes efficiency, liquidity, and stability.
The behaviour of short-term holders has a big influence on where Bitcoin goes. STH-MVRV, STH-SOPR, and profit/loss ratios are all tracked by analysts. Retracements are likely in the bull market of 2023. Bulls in Bitcoin must demonstrate their dedication to price increases. Bitcoin's trajectory is shaped by market players.
PEPE: From Memes to Market Surge, But Can It Sustain the Hype?
Pepecoin was created by a group of anonymous developers using the Ethereum blockchain and drawing inspiration from the well-known meme "Pepe the Frog." This distinctive digital asset had its market debut on April 16 and quickly attained a desired position in Binance's innovation zone. The listing caused PEPE's price to see an astounding rise, taking it to previously unheard-of heights.
The situation for PEPE, however, became less favourable in the days that followed as its value dropped. Pepecoin is currently trading at $0.000001, a 5.8% decline from the previous day. Although its price had increased by an astonishing 300% in the previous 30 days, recent trends show a decrease of roughly 25% in value, indicating a waning appeal among cryptocurrency investors.
BIG’s Final Presale Week, Bitcoin, and Art
This extraordinary journey skillfully combines gaming, bitcoin, and art to create an unmatched and entertaining experience. On June 3rd, the presale, which included 15 triumphant rounds, comes to an end. On June 15th, the much-anticipated official launch, a stunning rise begins with a value of $0.0006 or a startling 200% increase. The BIG team commits to working alongside CEX with an unflinching commitment, directing their combined efforts toward this enormous undertaking.
Users can take advantage of BIG's tempting Stage 3 pricing of $0.00017 to maximize the return on their investment. In stark contrast to its Stage 15 value of $0.00053, this is a peculiar chance. By taking advantage of this alluring offer, the market becomes more approachable, opening up the possibility of earnings as the company's reach increases.
The Final Bite
The ongoing evolution of cryptocurrencies captivates investors and enthusiasts. Unprecedented excitement has been created by Bitcoin, meme coins like Pepecoin (PEPE), and the eagerly awaited Big Eyes Coin (BIG). Bitcoin's turning point is influenced by short-term investors, and indicators like STH-MVRV and STH-SOPR are important. While Pepecoin saw a boom but ran into problems, In this dynamic environment, stay informed, adapt, and take advantage of possibilities.
Big Eyes Coin (BIG)
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
Instagram: https://www.instagram.com/BigEyesCoin/
Twitter: https://twitter.com/BigEyesCoin
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