Crypto enthusiasts claim that when “Bitcoin (BTC) sneezes, the entire crypto market catches a cold.” This rings true as altcoins like Toncoin (TON) bleed after Bitcoin fell to a one-month low. Investors are now turning to WW3 Shiba (WW3S), an upcoming SocialFi meme coin that recently launched its initial coin offering.
Analysts have cautioned that Bitcoin could slide below $62,000, effectively condemning altcoins to new lows. As a result, investors are holding stablecoins or buying WW3 Shiba, the best new altcoin to buy now. Experts say that the crypto dip will reverse soon.
Bitcoin ETF Outflows Drag the Crypto Market Down
Farside’s data show that the current selling stems from Bitcoin ETF outflows amounting to $145.9 million on June 17. This marks a continued streak of Bitcoin ETF outflows, signaling potential investor caution or profit-taking.
Bitcoin is trading at $66,833 (at the time of writing), down 9% from its all-time high of $73,750 reached on March 14. Despite the profit-taking, investors are optimistic that the bull market top is not yet here. This is mainly because there are still potential bullish catalysts yet to be priced in by the market. The market expects Bitcoin to defend the key support level of $59,000.
Toncoin Falls 5% During Crypto Crash
Toncoin, the cryptocurrency associated with the messaging app Telegram, has held strong in the face of the ongoing crypto crash. At press time, Toncoin is trading at $6.94, a 6% fall in the past week. After holding strong, Toncoin has maintained its position in the top ten cryptocurrency lists.
Analysts have warned that Toncoin holders could be forced to sell and engage in profit-taking if the crypto crash persists. Experts have given a bearish Toncoin price prediction, as they expect the altcoin to fall to $6.50 in the coming weeks.
WW3 Shiba Gains Momentum Amid Selling Pressure
WW3 Shiba, a unique meme coin tipped to be Shiba Inu’s successor, is gaining momentum from Bitcoin and Toncoin whales who want to earn massive presale gains. The new meme coin is expected to attract traditional gamers due to its planned play-to-earn (P2E) platform.
WW3 Shiba is integrating blockchain gaming to claim the lion’s share of the $175 billion gaming market. WW3S, the native token of WW3 Shiba’s ecosystem, will have several utilities, including paying cheaper transaction fees. 2% of funds generated from collecting transaction fees will be used to donate to charities supporting dogs affected by current wars.
Investors are rushing to buy WW3S during its presale, adding credibility to the project. Earning passive income through staking is another factor that attracts investors to WW3 Shiba. Early investors are projected to earn presale gains of more than 580%.
If you would like to find out more information about the presale,
Website: ww3shiba.com
Twitter: https//x.com/WW3SHIBA
Telegram: https://t.me/ww3shiba_portal
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