The meme coin landscape is on rocky territory as heavyweight tokens like $DOGE, $PEPE, and $BITCOIN suffer severe price drops.
The falling prices are largely a result of overall bearish pressure within the cryptocurrency market but are exacerbated as traders leave meme coins to head toward utility projects.
Instead of useless meme projects, traders are now looking to park their cash into utility projects that provide services and have long-term growth prospects.
In particular, Launchpad.xyz ($LPX) is one utility project that’s quickly been gaining momentum over the last few weeks as it crosses the $1.5 million milestone in its presale.
What you'll learn 👉
Meme Coin Investors Face Struggling Outlook as Heavyweight $PEPE Dumps
Meme coin investors are facing a difficult question as heavyweight projects in the sector continue to hammer support and head lower.
Pepe Coin ($PEPE), one of the newest mainstream projects in the sector, has been the latest to see falling prices as it struggles to maintain current crucial support.
The meme coin had surged higher toward the end of June, reaching as high as $0.00000187 in July. There, it found resistance at a bearish .382 Fib Retracement and rolled over.
Through the August market collapse, $PEPE lost support at $0.000001 and continued lower to the current support at $0.0000008, provided by a .786 Fib Retracement level;
The break of support has now dragged the market cap for the token as low as $340 million.
Looking ahead, if the support at $0.0000008 breaks, the first level of support below lies at $0.000000725 (downside 1.414 Fib Extension).
This is followed by support at $0.0000006, $0.000000525 (.886 Fib Retracement), and
Newly Established HarryPotterObamaSonic10Inu Also Drops
Another meme coin heavyweight that spawned a series of clones is HarryPotterObamaSonic10Inu – with the ticker of $BITCOIN.
This interesting meme coin rose to prominence in July, quickly reaching a $200 million market cap by mid-August.
It spawned a series of funny-name meme coins, all using tickers for previous heavyweight cryptocurrencies, like $ETHEREUM, $XRP, and $MONERO.
Unfortunately, $BITCOIN was dragged lower through the August market collapse as it fell beneath an ascending price channel.
The market has managed to find support at $0.0836, provided by a .618 FIb Retracement, but the sellers are still attempting to drag it further lower;
Looking ahead, if the sellers continue to drag the market lower, the first level of support lies at $0.07. This is followed by support at $0.06, $0.0522 (.786 Fib Retracement), $0.04, and $0.0334 (.886 Fib Retracement).
Where Are Meme Coins Traders Pivoting Into?
As the meme coin sector gets dragged lower, traders are starting to pivot into utility projects with doxxed teams.
Typically, meme coin developers remain anonymous, allowing them to have the potential to ‘rug’ the project and send the price crashing.
It seems that too many anonymous meme coin developers have scammed enough traders in the space, leading lots to start pivoting out of meme coins into projects where the developers’ identities have been verified.
In particular, meme coin traders are starting to lean toward utility tokens as they provide the potential for long-term growth, so long as the platform gains adoption.
One utility token currently turning heads is Launchpad.xyz ($LPX) – which recently crossed the $1.5 million fundraising milestone.
In addition, another utility project that’s gaining momentum is yPredict ($YPRED), which looks to use artificial intelligence to create a new breed of consistently profitable traders.
Launchpad.xyz Crosses $1.5 Million Milestone.
Launchpad.xyz ($LPX) recently crossed the $1.5 million milestone as investors rush to get positioned in the presale due to its unique angle of helping users navigate the convoluted Web3 landscape.
Described as the solution to the Web3 world, Launchpad.xyz provides all the tools users need to succeed in Web3 investing.
The project provides insights, learning, trading alpha, and analytics to help investors identify potential Web3 projects that will explode and get them positioned early.
The best part about the platform is that users can invest in the Web3 sector while retaining self-custody without leaving the interface.
The project’s overall goal is to humanize how people interact with the Web3 world by making an interface that’s more inclusive and easy to navigate – essentially simplifying the complex world of Web3 investment.
With Web3 being so fractured today, it’s unsurprising to see why this utility project is gaining considerable traction in its presale.
The project has several features to help users identify the next potential 100x Web3 project. Users can easily browse to find the next best NFTs, fractionalized assets, utility tokens, presales, and metaverse tokens.
The development team has integrated a unique artificial intelligence service into the platform, dubbed Launchpad Quotient.
This service helps to rank potential Web3 investments in each sector by providing a single value to denote the risk-to-reward opportunity with any Web3 project.
In addition, they’ve also incorporated an AI Search function – dubbed Apollo – that uses a large language model and NLP to help users find big Web3 projects with a simple chatbot experience. Essentially, it’s your AI assistant.
For example, users can ask the search “Show me the next dogecoin,” and it will bring up the next potential meme coin sensations available to invest in.
Furthermore, Launchpad.xyz also released a new selection of its own NFTs, providing holders access to VIP trading channels.
These channels are designed to provide users with multiple 10x traders per month.
Investors buying over $200 of $LPX in the presale will get an NFT Passcard, providing access to these channels.
Finally, the team behind Launchpad.xyz is fully doxxed, so you won’t have to fear the team ‘rugging’ the project and running away with liquidity.
$LPX is currently on presale, selling the token for a total of $0.0445.
The $LPX will be the utility token behind the project, and users will need to have it in the stake-to-access subscription service.
This will provide extraordinary demand for $LPX as the platform grows and gains adoption.
Overall, Launchpad has created a unique utility token in the Web3 space, which will help novices and experts navigate the landscape.
With the presale quickly gaining momentum during the recent market collapse, investors are encouraged to get positioned as early as possible or face the pain of higher prices once the token launches on exchanges.
yPredict Also Raises $3.5 Million in Fundraising
Another utility project gaining rapid traction is yPredict, a next-generation AI-based trading research and analysis platform.
While Launchpad.xyz provides insights into all Web3 projects, yPredict uses AI to give the traders data-driven insights to help them make better trading decisions to become consistently profitable.
The project was created by an ecosystem of AI and Machine Learning experts who have joined forces to develop state-of-art financial prediction models for the trading community.
The presale for yPredict has already raised $3.5 million in fundraising, demonstrating the increasing hype behind the token.
The platform houses a series of AI and ML products to help traders increase their profitability.
The best part about it all is that users will need $YPRED tokens to access each section – providing extraordinary utility for the project.
The flagship feature for yPredict is the yPredict Marketplace. This section allows AI and ML developers to use their skills in finance to list their own price prediction models in a results-as-a-service economy.
Traders can browse the marketplace to find the highest-performing prediction model suited to their trading styles and subscribe to it monthly using $YPRED tokens.
Developers who list the model will receive 70% of the payment, with the rest fuelling ecosystem growth.
In addition, the platform also has a yPredict Analytics section, which gives traders an edge in the financial market.
This new breed of trading tools entirely powered by AI helps traders identify newly forming trends and potential breakouts to make successful trades.
Users will need to have $YPRED tokens staked to access this feature.
Adding further to the reason investors are super excited about the future potential of yPredict is that the platform is using its AI technology to reach beyond trading.
For example, it recently announced that there will be an SEO tool – called yPredict Backlink Estimator – that will allow SEO experts to help generate more traffic by accurately predicting backlink counts and authority metrics;
Users will need to have 5,555 $YPRED staked to access this feature.
Furthermore, they’ve also released a yPredict Editor that will help editors improve their workflow using their AI models.
As you can see, yPredict isn’t putting itself in one small box. Instead, it’s an expansive ecosystem where the use cases can continue to increase as the project progresses.
Therefore, seeing the project already raised $3.5 million in its presale is unsurprising as traders rush to get positioned here.
The presale is currently selling the token at a price of $0.1.
With more than half of the total hard cap already raised, traders will need to be quick if they want to get positioned in $YPRED at the presale prices – or face higher prices once the token has launched.
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