Solana Goes To Zero As SOL Price Drops 10% In A Week But Evil Pepe Coin Just Raised $500,000 – How To Buy Early? -TGN

Solana has endured a rough two years of price action after a -90% hemorrhage since the previous all-time high (ATH) in November 2021, but if SOL’s recovery rally heads south in 2023, could it all be over for the major layer-1 blockchain? Find out in this Solana price analysis.

Amid a broader rebound in crypto markets that kicked off in January, Solana pumped an impressive +147%, driven in part by the Solana integration with Neon EVM.

But a $32.00 rejection on July 14 has led to the first major retracement for SOL in 2023, leaving investors fearful of tumbling price action.

SOL Price Analysis: Will Solana Go To Zero?

In the middle of the downtrend (driven by resistance on the upper trendline), SOL is currently trading at $23.72 (a 24-hour change of -4.2%) as price action threatens to bottom out from local support at the 20DMA.

With 10 days of downward moves now reaching -28%, many traders had hoped that the 20DMA would deliver a sharply lower level of support. However, this now appears to be in jeopardy as SOL begins to rapidly drop below this level around $23.75.

The last time SOL dipped below 20DMA on June 6 saw Solana bleed -30%, painting an ominous picture of the possible price action ahead.

Lower support can be found at the 200DMA, currently sitting around $21, and would likely gain the next foothold as SOL pushes lower.

There is also little reassurance to be found in Solana’s main indicators, despite a rapid cooling on a highly overheated RSI, the indicator still shows an overbought signal at 53.5.

There is also no relief from the MACD, which reflects this concern with a bearish divergence of -0.31.

With a price direction risking a free fall to lower support, a downtrend seems likely, and Solana’s risk: The reward structure reflects this at 0.86 in the short time frame.

As for whether Solana will reach zero, it is unlikely with lower support levels at $21, $16.75 and $15.

But despite this lower support, with downward moves clearly dominating the chart, many investors are rotating capital to find more lucrative returns in a short period of time – with meme coins still popular as the No. 1 winners in the space.

Meet EvilPepe: The meme coin rises above the $600,000 market cap

Evil Pepe Coin, a bold derivative of the market-leading meme coin, Pepe Coin, not only rides the wave of its predecessor’s success, but amps it up with a diabolical twist of its own.

Evil Pepe is enticing crypto enthusiasts with its attractive low initial valuation of $2 million and presents a lucrative opportunity for ground-level investors.

Proven teams, the masterminds behind successful meme coins such as Thug Life Token ($THUG) and SpongeBob ($SPONGE), are the driving forces behind $EVILPEPE.

As a result, expectations are sky-high for the new meme coin, with projections pointing to its potential to replicate or even eclipse the success of its ancestors.

But the strength of Evil Pepe Coin is not only rooted in the robust background of its creators.

A strategic marketing approach, which includes collaborations with influencers and targeted promotion across various social media and crypto news channels, ensures extensive visibility, an important part of growth.

Evil Pepe’s superior tokenomics and commitment to the community

Evil Pepe Coin’s commitment to its community is evident in its initial token offering and soaring presale – which now exceeds $650,000.

With 90% of the total supply available for acquisition during the presale and a monthly slot at 10% for DEX liquidity, it assures investors of its stability and fairness.

Evil Pepe’s team sidesteps the common pump-and-dump pitfalls of direct-to-DEX launches, instilling confidence in its commitment to long-term value generation.

The roadmap for Evil Pepe includes collaborations with influential meme creators and alliances with creative minds in the meme coin universe following the launch of DEX.

A single presale price set at $0.000333 and a hard cap of $1.9 million reveals an undiluted focus on simplicity and transparency.

How Evil Pepe plans to take astronomical moon shots

Unlike many presales that involve different phases and price increases, all $EVILPEPE tokens are offered at the same presale price.

Plus, there are no team tokens, easing concerns about massive token drops from whales looking to make money.

The Evil Pepe Coin team has an ambitious market cap target of $100 million, a jump of nearly 50x from its original valuation, underlining the immense growth potential of this bold newcomer.

Even with the low initial market cap, crypto experts such as Jacob Bury and Rochelle Manalo predict that the pre-sale could generate substantial interest quickly – they envision a scenario where demand for $EVILPEPE could increase post-launch, potentially driving the price higher.

Evil Pepe Coin’s journey begins with a decentralized exchange (DEX) listing, a calculated move to promote community participation.

This strategy supports Evil Pepe’s vision of inclusivity, enabling wider access to and participation in $EVILPEPE.

Evil Pepe Coin ushers in a new era in the meme coin market – it excites the cryptocurrency arena with its bold brand and untapped potential.

The coin is currently on pre-sale and retails for $0.000333, a tempting invitation to meme fans and investors looking to make substantial profits.

Join the $EVILPEPE revolution today – it’s delicious.

Buy EVILPEPE here

Disclaimer: Crypto is a high risk asset class. This article is for informational purposes only and does not constitute investment advice. You can lose all your capital.