Ethereum (ETH) has struggled to regain its bullish momentum as the price of ETH failed to reclaim the region of $2,200, falling from $2,100 to $1,800, where the price continues its struggle to remain bullish.
Despite the price of Ethereum struggling to regain bullish signs, most meme coins like PEPE, AIDOGE, and others have shown resilience as they rally with so much strength as many continue to tip the like of PEPE to flip the like of SHIB and DOGE that have pioneered the meme coin space.
Other Reading: Pepe Meme Coin vs Shiba Inu: A Comparison You Must Know
The hype around these meme coins has overshadowed the like of Ethereum and Bitcoin as they continue to struggle with their current price action ahead of the FED meeting scheduled for today.
Will PEPE Meme coin Reach $1?
The possibility of PEPE rallying to a high of $1 is difficult, considering how much its market cap will be worth, but there is no doubt that this meme coin has produced millionaires and will continue to perform well as long as this trend last. Trading meme coin is risky because they do not have any intrinsic value attached to them as they are based on Twitter hype and other prominent social media coupled with their great community.
Which Meme Coin Is The Best
There are no best crypto assets or meme coins; trading or hodling meme coin can be difficult, considering they are driven by hype and can be very volatile. It would be best to trade meme coins based on hype and sell them for better crypto assets with good use cases and community backing.
In recent weeks, PEPE and AIDOGE have continued to outshine the crypto market as many sing their praises after making thousands of dollars from different trades.
Ethereum Price Analysis For Today
The price of Ethereum (ETH) hasn’t shown much strength after losing support at $1,940. The price has struggled to hold above the region of $1,800 as it attempts to reclaim the high of $1,900.
Ethereum’s (ETH) price needs to reclaim the high of $1,950 to show more bullish signs; if the price fails to and breaks below $1,800, we could see the price retesting the low of $1,500 as the region of $1,700 acts as temporary support for the price of ETH.
The price of ETH sits just above the 50 and 200 Exponential Moving Averages (EMA), acting as support for ETH price.