Ethereum Price Prediction: ETH Plunges 20% As Jump Crypto Unstakes $315M Ethereum And Analysts Say Consider This Olympic Games Meme Coin For Huge Gains

The
Ethereum
price
plunged
20%
in
the
last
24
hours


to
trade
at
$2,326

as
of
05:04
a.m.
EST
even
as
trading
volume
skyrocketed
238%
to
$54
billion.

This
comes
as
Jump
Crypto,
the
crypto
division
of
Jump
Trading,
transferred
120,000
staked
Ether
tokens
worth
around
$314
million.
The
firm
has
shifted
hundreds
of
millions
of
dollars
worth
of
crypto
to
exchanges
in
recent
days,
which
has
sparked
speculation
that
it
may
be
preparing
to
sell
its
holdings.

The
mass
transfer
comes
five
weeks
after
Kanav
Kariya
stepped
down
as
Jump
Crypto’s
president
amid
rumors
the
firm
is
exiting
crypto.

Can
Ethereum
Price
Rebound?

The
Ethereum
price
has
been
on
a
downtrend
since
the
start
of
August,
as
it
plunged
from
the
$3,250
resistance
zone.
ETH
has
since
been
trading
within
the
falling
channel
pattern.

However,
today,
ETH
has
dived
below
the
lower
boundary
of
the
channel,
plunging
to
the
$2,250
support
zone,
according
to
data
from


GeckoTerminal. 

The
price
of
Ethereum
now
trades
below
both
the
50-day
and
200-day
Simple
Moving
Averages
(SMAs),
further
supporting
the
continued
bearish
trend
of
the
token.

Moreover,
the
Relative
Strength
Index
(RSI)
on
the
1-hour
chart
trades
at
25,
which
shows
that
the
asset
is
under
intense
selling
pressure
and
is
currently
undervalued.

With
the
asset
being
undervalued,
this
now
acts
as
a
buying
signal.
If
investors
start
buying,
the
token
may
rise
back
to
the
channel,
with
the
price
of
Ethereum
now
targeting
$3,300
in
the
long
term.

Conversely,
if
the
bears
continue
exerting
more
pressure,
ETH
could
plunge
further
to
hit
2,200,
which
acts
as
a
cushion
against
downward
pressure. 

As
Ethereum
price
bleeds,
the
Olympic
Games-themed
meme
coin


The
Meme
Games
($MGMES)

is
going
from
strength
to
strength.

Olympic
Themed
The
Meme
Games
–
The
Best
Crypto
To
Buy
Now?

Blending
the
excitement
of
the
Olympics
with
the
crypto
world,


The
Meme
Games

allows
users
to
bet
on
meme
characters
in
fun,
competitive
events. 

The
Meme
Games
introduces
a
gamified
experience
where
users
can
bet
on
meme
characters
like
Dogecoin
($DOGE),
Pepe
($PEPE),
DogWifHat
($WIF),
Brett
($BRETT)
and
Turbo
($TURBO)
as
they
compete
in
Olympic
Games-style
events.

Believe
it
or
not,
this
is
what
peak
performance
looks
like.
⛵????#Paris2024

#Crypto

$MGMES

$PEPE

pic.twitter.com/s1WoewVbqD

—
The
Meme
Games
(@MemeGames2024)

August
4,
2024

Gaining
rapid
popularity,
The
Meme
Games
has
already
raised
over
$338,000
in
its
presale
and
is
poised
to
make
waves
with
its
DEX
listing
on
September
10.

The
project
also
offers
an
impressive
639%
annual
percentage
yield
(APY)
for
those
who


buy
and
stake
$MGMES
tokens,
further
enhancing
its
appeal.

That’s
why
influential
crypto
analyst
and
YouTuber
Austin
Hilton,
with
272k
subscribers,
predicts
that
$MGMES
“will
be
huge.” 

The
Meme
Games
is
an
exciting
new
option
for
a
thrilling
and
rewarding
crypto
experience,
and
offers
the
chance
for
investors
to
win
a
25%
token
bonus
when
they
join.
New
buyers
enter
a
chose
meme
coin
into
a
race
and
have
about
a
20%
chance
of
winning
25%
of
their
original
investment.

You
can
also
enter
multiple
times
to
increase
your
chances
of
winning.
The
more
you
invest
in
the
presale,
the
higher
your
odds
of
securing
this
reward.

You
can
buy
$MGMES
tokens
for
$0.00915
each.
But
buy
soon
to
lock
in
the
best
deal
as
a
price
hike
will
come
in
less
than
two
days.

To
join
the
presale,


buy
$MGMES
from
the
official
website
here

using
ETH,
BNB,
USDT,
or
a
bank
card.

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