Ethereum Price Prediction: ETH Drops 18% As Experts Say Consider This Viral Meme Coin That’s Just Burned $1 Million In Tokens

The
Ethereum
price
has
dropped
18%
in
the
last
24
hours
to
trade
at
$2,541
as
of
3:20
a.m.
EST
on
a
236%
pump
in
trading
volume
to
$79.8
billion.

Despite
the
recent
decline
in
the
ETH
price,
there
has
been
notable
buying
activity
at
these
levels,
signaling
that
investors
are
accumulating
ETH
with
a
long-term
outlook.
This
surge
in
buying
volume
during
the
dip
indicates
strong
support
and
hints
at
the
potential
for
upward
momentum
once
the
market
stabilizes.

Ethereum
Price
Hits
A
Support
Zone
–
Is
A
Rebound
On
The
Horizon?

The
sharp
decline
in
the
leading
altcoin’s
price
comes
after
ETH
broke
below
a
bearish
channel
that
had
been
in
place
for
several
weeks,
triggering
widespread
panic
among
traders.

Ethereum
is
now
testing
a
major
support
zone
between
$2,500
and
$2,400,
a
level
that
previously
acted
as
a
strong
foundation
for
bullish
reversals
in
November
2024.
If
buyers
step
in
at
this
crucial
area,
ETH
could
stage
a
recovery
toward
$3,021
and
possibly
$3,533,
which
are
key
resistance
levels.

However,
failure
to
hold
above
support
could
lead
to
a
deeper
sell-off,
potentially
dragging
prices
down
to
$2,000
or
lower.

ETHUSD
Analysis
Source:
TradingView

Technical
indicators
suggest
the
Ethereum
price
might
be
due
for
a
rebound.
The
Relative
Strength
Index
(RSI)
has
dropped
to
28.26,
signaling
oversold
conditions.
This
shows
that
selling
pressure
could
be
in
a
phase
of
exhaustion,
and
a
short-term
bounce
may
be
on
the
cards.
However,
traders
will
be
watching
closely
for
confirmation,
as
a
move
above
the
30
RSI
level
would
strengthen
the
case
for
a
reversal.

Ethereum
now
faces
a
critical
moment,
with
traders
assessing
whether
this
major
support
zone
will
hold
or
give
way
to
further
downside.
If
buying
momentum
picks
up,
ETH
could
regain
its
footing
and
push
toward
resistance
levels
at
$3,021
and
$3,533.

However,
a
break
below
$2,400
could
open
the
door
for
an
extended
decline.
Investors
are
advised
to
tread
cautiously
and
watch
for
signals
of
a
trend
reversal
in
the
upcoming
days.

Catslap
(SLAP)
Burns
$1M
In
SLAP
Tokens,
Boosting
Price
Potential

Meanwhile,
the
viral
new
meme
coin Catslap
(SLAP)
has
burned
$1
million
worth
of
tokens,
reducing
supply
and
potentially
boosting
price
momentum
for
the
popular
Slap-to-Earn
crypto.
A
total
of
1,196,558,367.83
SLAP
tokens,
valued
at
over
$1.5
million,
have
been
burned
so
far.
Token
burns
increase
scarcity,
which
is
crucial
for
driving
up
value
and
could
lead
to
price
surges
if
demand
levels
remain
the
same
or
increase.

Catslap
is
the
token
behind
a
viral
web
game
where
players
earn
crypto
by
slapping
cultural
icons.
Recently,
the
Slapdrop
contest
distributed
a
$100,000
prize
pool,
and
players
began
collecting
SLAP
rewards
in
mid-January.

It’s
done.
We
just
burnt
$1,000,000
of

$SLAPhttps://t.co/grFgQzV4ej

pic.twitter.com/iMG1HkF0Ri

—
Catslap
(@CatSlapToken)

January
31,
2025

Following
the
burn,
the
Slapdrop
contest
has
officially
concluded,
and
investors
have
staked
over
half
a
billion
SLAP
tokens.
Unclaimed
staking
rewards
will
be
burned
on
Feb.
14,
but
the
staked
principal
will
remain
unaffected.

The
Catslap
team
has
also
conducted
a
$533,281
buyback
initiative
to
further
support
the
token’s
price.
With
the
token’s
recent
growth,
including
a
908%
return
from
its
presale
price,
and
upcoming
industry
catalysts
like
the
potential
pro-crypto
US
policy,
Catslap
is
positioned
to
lead
the
meme
coin
sector,
possibly
surpassing
other
popular
cat-themed
coins
like
MEOW
and
MOG.

Crypto
expert
and
YouTuber
Jacob
Crypto
Bury,
who
has
over
45K
subscribers,
says
SLAP
might
be
the
next
100X
meme
coin
to
hit
the
crypto
market.

Catslap’s
partnership
with Best
Wallet,
one
of
the
fastest-growing
and
most
innovative
crypto
wallets,
also
gives
it
exposure
to
over
105,000
users.

The
current
price
of
SLAP
stands
at
$0.00110921,
and
it
can
be
purchased
directly
on
the
project’s
website
using
ETH,
USDT,
or
a
bank
card.
Alternatively,
investors
can
also
purchase
the
meme
coin
through
the
centralized
exchange
MEXC.

Buy
SLAP
here
before
the
project’s
“Megaburn”
event
in
10
days.

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