Despite reaching a six-week high of $3,972 following spot Ethereum ETF approval, ETH has lagged the broader crypto market’s performance in the last week. This underperformance has led investors to search for other alternatives with top crypto coins like Toncoin and new market entrants like Angry Pepe Fork (APORK) both of which have emerged as potential solutions.
Ethereum Token Faces Prolonged Correction After Underperformance.
Ether (ETH), the native cryptocurrency of Ethereum network, has underperformed over the past week, declining by roughly 10% compared to Bitcoin and the broader crypto market. This decline is attributed to several factors, including Bitcoin-specific factors in 2024, such as the success of U.S. spot Bitcoin ETFs and the upcoming CPI reading and FOMC meeting decision on rate cuts.
The ETH/BTC ratio has also declined, reaching its lowest since May 20. However, despite noticeable resurgence in some other top altcoins, market and technical indicators suggest that the ETH token may witness a deeper correction before making another attempt at recovery.
Meanwhile, the weekly chart shows a long bearish candlestick, hinting at the intensity of the downtrend. While Ether bulls are counting on immediate support from the $3,400 psychological level, a daily candlestick close below this level would signal the inability of the bulls to defend it, projecting a decline to $2,840 for the ETH token.
Toncoin Price Reattempts Consolidation Above $7.
Amid increased bearish sentiment in the crypto space, the Toncoin (TO) price continues to trade in a closed range between $6.220 and $7.400. However, the Layer-1 token has shown positive price action over the past 24 hours and is nearing its resistance level.
While technical indicators offer mixed signals, the outcome of this test remains uncertain. Moreso, a bearish crossover has emerged in the Simple Moving Average (SMA), suggesting increased selling pressure.
However, the Moving Average Convergence Divergence (MACD), on the other hand, indicates a potential bearish convergence in the 1-day timeframe. If the market pushes the Toncoin price above the resistance level of $7.40, the bulls will prepare to retest its previous all-time high (ATH) by the upcoming week.
Angry Pepe Fork (APORK): A Meme Coin With Unique Utility.
Angry Pepe Fork is becoming a big catch in the presale market with industry experts touting it as one of the best crypto meme coins to watch. Essentially, the platform aims to rewrite the meme coin narrative by introducing an utility-backed token that stands out from its peers. In particular, Angry Pepe Fork introduces a unique conquer-to-earn model that allows the participants or “Angry Pepe Fork Army” to partake out of a collective reward system.
Notably, participants increase their staking rewards or Annual Percentage Yields (APYs) by conquering zombie meme coins as a group. Moreso, members who actively participate in this process will earn badges that enhance their rank within the APORK ecosystem. This innovative approach sets APORK apart from other top meme coins on the Solana network that lack utility, making it a standout in the market.
Additionally, the platform offers a staking dApp that offers flexible lock-in periods ranging from 30, 60, or 90 days, with the aim of increasing the ROI of participants, depending on the duration of the lock up time. This community-driven approach and potential partnership with major companies to add more utilities, is expected to drive growth and further solidify the tokens as the best crypto.
Meanwhile, the native APORK token is currently in the stage 1 of the presale and is priced at $0.014 with a 10% bonus on all purchases. Even better, analysts have predicted that Angry Pepe Fork token can possibly rise by over 200% by the end of its presale and up to 350% once it is listed on top-tier exchange platforms.
Is Angry Pepe Fork a Good Substitute Amidst Ethereum Price Retracement?
With Ethereum price having had a rocky week with data suggesting that more downside could be on the way, Angry Pepe Fork has emerged as a potential solution for the crypto investors. This coin is expected to experience a big price jump soon especially when it launches on major exchange platforms. Analysts have predicted a 10x price surge for the APORK coin before the end of this month after labeling it as the best crypto to buy.