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Fantom Coin is Going to Zero as FTM Price Plummets 15% But All Attention is On Evil Pepe After Raising $160,000 – How to Buy Early?

Sam Cooling
Last updated: | 3 min read
Source / Sam Cooling x SuttleMedia

Following a failed recovery rally, Fantom (FTM) is facing a continuation of the bleak price action that has plagued the mid-ranked Layer-1 since May 2022.

A short-lived +230% rally at the start of the year has given way to a multi-month cascading price action, which has seen a tough -60% bleed-out for dedicated Fantom holders.

Fantom (FTM) Price Analysis: Things Take a Turn for the Worst

With Fantom price now trading at a lowly $0.2575 (a 24 hour change of -0.08%) many are now wondering whether FTM is destined to fall to zero.

TradingView / FTM USDT

Indeed, downside momentum has dominated the chart since touching the upper-trendline on April 13, which sent price plummeting below the 20DMA (which has formed a hard ceiling of local resistance ever since).

Worse still, on May 24, a brief period of supportive footing from the 200DMA gave way, leaving price in free-fall to current rock bottom price levels.

Recent attempts to break back above the 20DMA have been slapped-down in tough rejection moves, further adding to the bleak outlook for ongoing price moves.

With price now hovering above the foundation price level at $0.025 – holders are in a state of anxiety – desperate for a fundamental change to the stormy headwinds.

Indicators provide little reassurance, while the RSI is showing bullish divergence at 40.9 – the swift rejections from resistance at the 20DMA on July 5 and July 14 could indicate a need to cool off further to 30.

And this is a view reinforced by the MACD, which shows bearish divergence at -0.0029.

Despite the declining interest, there could be a glimmer of hope in Fantom’s risk: reward structure.

TradingView / FTM USDT

Upside potential from here is targeting a reclamation of price level above the 20DMA around $0.31 (a possible +38% move).

While downside risk here is minimised, with strong local support likely to be found at the lower trendline around $0.21 (a small -17.4% decline).

This leaves FTM with a respectable risk: reward structure of 1.65 – suggesting all might not be quite over yet for this mid-rank altcoin.

Best Fantom Alternative: $EVILPEPE Meme Coin Sensation

Source / EVIL PEPE

Yet while Fantom is facing tough prospects, smart money are continuing to make huge gains of the latest and greatest memecoins.

One such project, Evil Pepe Coin ($EVILPEPE) stands out not as a mere imitator but an innovator with exponential growth potential.

The audacious cousin of 2023’s best-performing meme coin, Pepe Coin, $EVILPEPE is set to ride the wave of its predecessor’s success with a twist of its own.

The initial valuation of this promising token is at a measly $2 million, presenting a ground-floor opportunity for potential investors.

With proven teams behind it that brought us Thug Life Token ($THUG) and SpongeBob ($SPONGE), $EVILPEPE is expected to replicate or even surpass the success of these meme coins which saw gains of up to 100x.

But $EVILPEPE’s prospects do not rest solely on its team’s pedigree – its marketing approach, leveraging influencer partnerships and strategic promotion across social media and crypto news outlets, ensures wide visibility, an essential ingredient for growth in this space.

The success of $THUG and $SPONGE attest to the efficacy of this strategy.

Superior Tokenomics of $EVILPEPE 

Source / EVIL PEPE

Moreover, $EVILPEPE’s commitment to community reflects in its initial token offering.

With 90% of its supply up for grabs during the presale and a one-month lock on 10% for DEX liquidity, the coin reassures investors about stability and fairness.

It sidesteps pump-and-dump pitfalls and instils confidence in its serious commitment to long-term value generation.

The $EVILPEPE team has an ambitious market cap goal of $100 million, a near 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.


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