Dogecoin eyes the $0.16 support level, with Bitcoin Pepe’s presale now above $7m

Key takeaway

• DOGE is down 4% in the last 24 hours and could drop to the $0.16 support level soon.
• Bitcoin Pepe’s price is set to increase ahead of the new stage after raising $7.1 million.

DOGE down 4% amid broader market retreat

DOGE, the native coin of the Dogecoin ecosystem, is the worst performer among the top 10 cryptocurrencies by market cap. The coin is down 4% in the last 24 hours and could dip further if the bearish trend persists.

At press time, the price of Dogecoin stands at $0.1770 and could drop to the $0.160 support level if the market conditions continue. Bitcoin has also dropped below $94k and could test the $91k support level in the coming hours or days. 

Bitcoin Pepe presale surpasses $7m

Memecoins have been underperforming this weekend, with most down 3% or more in the last 24 hours. However, new meme projects, especially those with utility, continue to attract investors.

Bitcoin Pepe is building a new layer-2 project that could unlock Bitcoin’s liquidity and make it available to memecoin trading. Its exciting product continues to attract more investors, with its presale currently approaching a new stage. 

It is also the first meme initial coin offering (ICO) on the Bitcoin blockchain and could record massive adoption once its product and token go live. Currently in its presale, Bitcoin Pepe has raised nearly $7.1 million and will enter the tenth stage once the funding hits $7.7 million.

Investors are leveraging the presale to secure an early position in this project. Bitcoin Pepe’s $BPEP token will power the entire ecosystem and is available for purchase via the Bitcoin Pepe website. Accepted modes of payment include ETH, USDT, USDC, BNB, and SOL.

Click here to participate in the Bitcoin Pepe presale.

Is Bitcoin Pepe a worthy project?

Bitcoin Pepe’s whitepaper suggests it could become an excellent project with the right level of adoption. The team is building a layer-2 network to become home to memecoin trading on the Bitcoin blockchain.

The team explained that they chose Bitcoin due to its massive liquidity and security. NFTs and DeFi protocols are already live on the Bitcoin blockchain, but memecoin trading remains missing. 

The Bitcoin Pepe layer-2 network will introduce memecoin trading to Bitcoin, allowing developers to have access to the blockchain’s liquidity and high-end security features. The L2 network will empower developers with the tools to migrate their memes from other blockchains to the Bitcoin blockchain. 

With millions of memecoins currently available in the crypto space, most of them still struggle with poor liquidity and security. Launching memecoins on the Bitcoin blockchain will enable them to tap into its massive (over $1 trillion) liquidity. With the right adoption, Bitcoin Pepe could become one of the leading layer-2 networks within the cryptocurrency market. 

$BPEP will power activities within the Bitcoin Pepe ecosystem, ensuring that developers and users utilise this token for various transactions. Thanks to its unique value proposition, early investors could enjoy massive ROI once $BPEP launches on cryptocurrency exchanges.