Bitcoin Pepe presale gains steam while Dogecoin faces downside risk

• In a market where sentiment toward meme tokens has cooled, Bitcoin Pepe’s presale has continued to see strong momentum.
• The Bitcoin Pepe presale has raised over $14.5 million. The BPEP token is priced at $0.0416.
• To expand its Layer 2 ecosystem, Bitcoin Pepe has secured several strategic partnerships.

Bitcoin edged above the $107,000 mark on Monday following a volatile weekend driven by escalating geopolitical tensions between Iran and Israel.

The world’s largest cryptocurrency was trading at $107,092, up 1.5% over the past 24 hours, according to CoinMarketCap.

Investor focus now shifts to the upcoming Federal Open Market Committee (FOMC) meeting scheduled for Tuesday and Wednesday.

According to the CME Group’s FedWatch Tool, markets are pricing in a 96.7% probability that the Federal Reserve will keep interest rates unchanged at 4.25% to 4.50%.

Beyond the rate decision itself, traders will be closely parsing Fed Chair Jerome Powell’s commentary for signals on future policy direction and its potential impact on risk assets, including cryptocurrencies.

Amidst this, two meme coins are seeing contrasting fortunes.

Bitcoin Pepe continues to catch investor interest, while Dogecoin is at risk of further correction.

DOGE to fall further?

Dogecoin (DOGE) is trading below its key weekly support level of $0.18, flashing early warning signs of a potential deeper correction as bullish momentum wanes.

At the time of writing on Monday, DOGE hovers around $0.176, down nearly 3% from Sunday and more than 9% below the midweek high.

The price rejection last Wednesday from the 50-day Exponential Moving Average (EMA) at $0.195 triggered a sharp pullback, pushing DOGE below its $0.181 support level the next day.

On-chain indicators suggest the selling pressure may intensify. Santiment’s Network Realized Profit/Loss (NPL) metric spiked on Saturday, marking the highest level of realized profits since early May.

This suggests a growing number of holders are cashing out at a profit, adding to the downward pressure on the token.

Dormant wallet activity has also picked up, typically a bearish signal as previously inactive holders begin moving tokens, often to sell.

The last similar NPL spike in early May preceded a notable drawdown in DOGE’s price.

If the current downtrend persists, DOGE risks revisiting its April 22 low of $0.157, a key level to watch in the coming sessions.

Bitcoin Pepe shows no sign of slowing

While meme coins like Dogecoin, PEPE, and Shiba Inu have largely flatlined in recent weeks, Bitcoin Pepe’s presale has steadily gathered momentum, distinguishing itself from a sector struggling to regain upward traction.

In a market where sentiment toward meme tokens has cooled, Bitcoin Pepe’s ability to attract sustained investor interest suggests it may continue to outperform peers in the segment.

Positioned as the first meme-centric Layer 2 built on the Bitcoin network, the project combines Bitcoin’s foundational security with Solana-style scalability, offering a technical roadmap that sets it apart from conventional meme coins driven solely by hype.

This hybrid model of infrastructure and internet culture aims to establish a new benchmark for meme tokens.

To expand its Layer 2 ecosystem, Bitcoin Pepe has partnered with Super Meme, Catamoto, and Plena Finance.

The approach appears to be resonating with investors.

The project’s ongoing presale has raised over $14.5 million, with just one day remaining before a June 17 listing announcement.

Market attention around the project continues to intensify as it nears this key milestone.

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