One thing we can say is that there is never a dull moment in the crypto world. As many major coins struggle as the market fluctuates, investors are seeking more reliable options to invest in, and presales are proving to be a hit. One shining star in the presale game is the meme coin, Big Eyes Coin.
Now in its 12th stage, the coin has raised over 31 million dollars in presale, a feat that surpasses even the likes of Dogecoin and Shiba Inu. Both coins saw double-digit losses over the previous seven days and were among the market's worst-performing cryptocurrencies.
Dogecoin And Shiba Inu Aches Over Elon Musk’s Abandonment
Famous meme coins like Dogecoin [DOGE] and Shiba Inu [SHIB] experienced negative trading as the wider cryptocurrency market was still consumed by concern and uncertainty following the failure of the crypto-friendly bank Silvergate.
Musk's shocking announcement to his fans last Friday that he is now focusing on artificial intelligence startled them and added to the generally unfavourable attitude. The billionaire tweeted, "I used to be in crypto, but now I got interested in AI," which immediately caused Dogecoin's price to drop.
Data from CoinMarketCap shows that while trading volume increased by 23.86% over the course of 24 hours, the market value of the top meme tokens decreased by 9%, signalling a significant market sell-off.
Further information showed that SHIB declined by nearly 9% over the same time period, while DOGE fell by 8.24% at the time of writing.
The Struggling Crypto Market
The aftermath of the collapse of Silvergate Bank, a lawsuit brought by US regulators against the KuCoin exchange, and the remarks of the United States Federal Reserve head Jerome Powell alarmed investors, causing the cryptocurrency market to decline today.
The current SEC crackdown on centralized staking, along with subsequent enforcement actions against Paxos and Binance, has also impeded the emergence of long-term bullish momentum across the market.
Because of numerous misunderstandings or skepticism over the actual use case of digital assets, there has been a long history of tension between the bitcoin industry and regulators. The most recent battle is centred on how centralized exchanges can use customer funds.
Big Eyes Coin Shows Presale Genius
Last year, cryptocurrency presales were quite popular, luring investors to intriguing projects before they were formally launched and listed on cryptocurrency exchanges.
The main advantage of purchasing a new cryptocurrency during the presale phase is that you can do so for a reduced price—possibly the lowest price it will ever be if the new cryptocurrency is successful.
Big Eyes Coin (BIG) isn't doing too badly at all, with $31.34 million in its bank account thanks to presales. Since it has reached the 12th stage, the presale price is slightly higher than when it first began, but it is still the lowest price possible. According to rumours, the coin will revolutionize the market for meme coins. It would be interesting to see how BIG performs after launch, and it would make sense to sign up for the presale while doing so.
Find out more about Big Eyes Coin (BIG):
Disclaimer : The above is a sponsored article and the views expressed are those of the sponsor/author and do not represent the stand and views of The Tribune editorial in any manner.
Most Read In 24 Hours
Don't MissView All
Punjab Police invoke NSA against five Amritpal associates, flag a possible ‘ISI angle’
IG Sukhchain Singh Gill said specialised units are involved ...
India calls in US Charge d’Affaires after pro-Khalistani mob storms San Francisco mission
India’s High Commissioner to Canada forced to cancel his app...
Hunt on for Amritpal Singh; his uncle, driver surrender in Jalandhar
The hunt for Amritpal enters the third day on Monday as the ...
Red Corner Notice against Mehul Choksi removed from Interpol database
Fugitive diamantaire Choksi had challenged CBI application s...
US report claims significant human rights issues in India
Annual human rights report of the State Department is a mand...