As Dogecoin (DOGE) probes for a breakout to the downside of key medium-term support, DOGE token holders are venturing into a new VR ICO called 5thScape (5SCAPE) as they hunt for 1,763% returns.
Dogecoin hit its lowest level in two months on Wednesday, just south of $0.12. But support in this area is holding up the price for now.
Crypto has been selling off recently as Bitcoin ETFs saw outflows and following a week ETF debut in Hong Kong.
#Bitcoin ETF Update (April 30)
– Total net outflows from Bitcoin spot ETFs: $162M
– Grayscale ETF $GBTC alone saw outflows of $93.23M
– GBTC’s historical net outflow now totals $17.30B
– Overall $BTC spot ETF value drops below $50B to $49.41B pic.twitter.com/3yRDjIMKkv
— @TheLordofEntry (@thelordofentry) May 1, 2024
Macro headwinds have also been hitting the market. The Fed just reiterated its reluctance to begin cutting interest rates soon.
#BITCOIN BACK ABOVE $58,000 AS FED CITES ‘LACK OF FURTHER PROGRESS’ FIGHTING INFLATION
— *Walter Bloomberg (@DeItaone) May 1, 2024
That’s due to recent data showing that US inflation remains uncomfortably hot, including wage growth data released yesterday.
Should macro headwinds worsen later in the week, a distinct possibility with US PMI and jobs data due, Dogecoin could easily soon break $0.12 support.
That would open the door to a quick drop back to $0.1050 support.
With the near-term outlook for Dogecoin downbeat, it’s no surprise that investors are looking to diversify.
One project that is attracting a lot of attention is the new VR ICO 5thScape.
Here’s Why New VR ICO 5thScape Could Be 2024’s Best Presale
The 5thScape presale is attracting a lot of attention, with investors betting it will become a market leader.
5thScape is a first-of-its-kind crypto-powered VR/AR project, set out to build a crypto-powered VR ecosystem. And investors are betting it will become a market leader.
Hey #5thScape fam! 🎮 Just dropping by to share some epic news: our dedicated team has been tirelessly leveling up the thrill factor in our latest project!
🚀 Stay tuned for the most cutting-edge updates and enhancements as we continue to redefine what’s possible in gaming.… pic.twitter.com/qwrDZH5p4a
— 5th Scape (@5th_scape) April 30, 2024
That’s what the project’s surging presale suggests, with 5thScape having already raised more than $5.6 million.
5SCAPE is currently available for $0.00327, a steep discount from its planned launch price of $0.1.
That means investors who get in now will have unrealized gains of 200% at the time of launch.
Its token supply of 5.1 billion means that, at the current price, 5SCAPE has a market cap of $16 million.
If 5thScape gains traction as a market leader, it could easily become a $100+ million market cap coin.
In the case of it reaching a $300 million market cap, which isn’t too much during a crypto bull run, that would mean over 1,763% gains for presale investors.
$5SCAPE token can be bought today with ETH, MATIC, USDT, BNB, or card.
80% of the total token supply is available for purchase in the presale.
Here’s why 5SCAPE is one of popular crypto presale analyst Michael Wrubel’s top picks for 2024.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
