As crypto market dey wait for Fed decision, meme coins like Dogecoin, Shiba Inu, and Pepe dey show signs of recovery. According to FXStreet analyst Manish Chhetri, wey get over four years experience for crypto, PEPE dey lead the meme coin recovery.
Bitcoin, wey be the main market driver, dey hover around $66,000 on Wednesday, after e correct from Monday high of $67,292. The broader market dey under pressure from a resistance trendline, wey dey keep prices for corrective phase.
For meme coins, DOGE dey near breakout point, while SHIB dey at ceiling. PEPE, wey be the top performer, dey show strong recovery. But investors still dey cautious as Fed go announce interest rate decision later today.
XRP no get better luck as e dey under pressure from declining major moving averages, wey dey undermine the MACD buy signal. Meanwhile, ONDO dey see firm retail demand because of tokenization trend for traditional stocks and other Real World Assets.
Institutional demand dey show slight improvement as spot Exchange Traded Funds record mild inflow on Tuesday, after weeks of outflows. This small sign of recovery fit help market sentiment, but overall, prices dey decline as investors dey cautious toward risk assets.
