Raydium (RAY), the Solana-based automated market maker (AMM) and liquidity provider, has seen the price of its native token plummet more than 30% in 24 hours.
While RAY price may dip further amid Pump.fun developments, analysts are taking a bullish outlook on Bitcoin Pepe (BPEP), a meme coin project looking to build “Solana on Bitcoin”.
Pump.fun is testing its own AMM?
There’s been notable pressure on RAY in the past 24 hours. The DEX protocol’s token crashed as traders reacted to network related news. In particular, its about the reports that meme coin launchpad Pump.fun is set to unveil its own automated market-maker (AMM) system.
An automatic market maker refers to a decentralized trading system that allows for the buyg anf selling of cryptocurrencies without relying on traditional order books. AMMs remove this need for intermediaries through liquidity pools.
Pump.fun, the biggest meme coin factory on Solana, is said to be looking at its own AMM. This has the potential to see the new system replace Raydium as the meme launchpad’s main liquidity provider. Pump.fun’s maneuver, coupled with more rewards for the community, has eaten into RAY’s outlook.
RAY price prediction
It’s likely the traders’ reaction to this, bearing in mind possible impact on Raydium’s performance that has RAY price down. Currently, reports are that Pump.fun has a test version of the AMM.
The RAY token’s value fell sharply from highs of $4.25 to test support near $2.85 in early trading Monday, Feb. 24. Raydium also saw massive volume amid the decline, suggesting sell-off could strengthen. If it happens, the price of RAY could seek primary support near $2.70 and $2.00.
RAY price is down nearly 60% in the past month.
Bitcoin Pepe: Presale gathers pace as its $3.1 million
Within days of launching the first Bitcoin meme ICO sale, the project has raised over $3.1 million. This significant milestone comes after the first four presale stages breezed by as investors rushed to position early.
Bitcoin Pepe is a meme project that wants to bring memes to the world’s most popular blockchain network Bitcoin.
Underpinning this ambition to dominate a $2 trillion ecosystem is a PEP-20 token standard. It’s designed to tap into the speed of Solana’s network and robust security of BTC. More than that, Bitcoin Pepe is building the new meme layer 2 for Bitcoin.
Bitcoin Pepe (BPEP) price prediction
While the crypto market has had a tough week following the $1.4 billion hack of crypto exchange Bybit, most cryptocurrencies witnessed minimal price declines.
The US Securities and Exchange Commission (SEC) also looked to end its lawsuit against Coinbase and closed an investigation against NFT platform Opensea. Optimism has helped bulls stay resilient. Amid this overall resilience, crypto project Bitcoin Pepe (BPEP) has thrived.
If the presale continues to gain momentum, the price will quickly rise. Currently, BPEP is available at heavily discounted $0.0255 in stage five. The next stage will see the price surge to $0.0268 and jump by 5% at each level until the final stage 30.
The bullish prediction for Bitcoin Pepe begins with what it means for early investors.
Stage 1 buyers may see up 300% in presale gains, while post-presale performance could be explosive as tokens list on exchanges in the second quarter. Tailwinds could also include Bitcoin price performance, with BTC expected to target the $200k.
Find out what Bitcoin Pepe is about, or buy BPEP on the official website.
