The aggregated market value of meme coins, as tracked by CoinMarketCap, has dropped by nearly 5% in the past 24 hours to $67.8 billion as today’s inflation report in the United States panicked investors.
According to the Bureau of Labor Statistics (BLS), the country’s Consumer Price Index (CPI) rose by 0.5% in January compared to a year ago. This figure was 20 basis points higher than analysts’ consensus for the period and it debunked the notion that the Federal Reserve could accommodate additional rate cuts in the near term.
CPI for all items rises 0.5% in January; shelter up #BLSData https://t.co/dJyJeKlXDJ
— BLS-Labor Statistics (@BLS_gov) February 12, 2025
The market is highly susceptible to any development that affects the short-term outlook for the Fed’s monetary policy decision. Right after the report came out, most meme coins experienced a significant retreat in their respective hourly charts.
In the past 7 days, the entire category has faced significant selling pressure. The most resilient meme coins like Dogecoin (DOGE) and Pepe (PEPE), have retreated by just 4.1% and 8.6%, respectively, during this period.
However, other valuable tokens like dogwifhat (WIF), Pudgy Penguins (PENGU), and SPX6900, have experienced losses of 30.5%, 25.2%, and 15.5% this past week, respectively.
Meanwhile, in the past 30 days, the combined value of meme coins has dropped by a staggering 31.3% as investors fear that Trump’s trade war, along with the Fed’s reluctance to reduce rates, could take a toll on the valuation of risk-on assets.
Dogecoin (DOGE) Leads Losses Despite Positive Momentum Readings
As the most valuable token in the category, with a 55.5% dominance, Dogecoin (DOGE) leads the way for meme coins. Hence, a closer look at its price chart could tell us where these tokens could be heading next.
The daily chart shows that DOGE is struggling to overcome a critical resistance level at $0.26 that it broke roughly a week ago right after Trump prompted a flash crash with his decision to increase tariffs for neighbor countries.
Momentum indicators are all pointing to an upcoming surge in the price of DOGE but the Relative Strength Index (RSI) is still not yet providing a concrete signal. Once, or perhaps if, the RSI crosses above the signal line decisively for two consecutive sessions, that would confirm a bullish short-term outlook for DOGE.
However, today’s inflation report may have delivered a blow to this ongoing recovery as traders understand that the odds of a favorable change to the current course of the Fed’s interest rate decisions continue to be low.
Despite the gloomy outlook, the best crypto presales like BTC Bull Token ($BTCBULL) are still drawing significant attention from investors as their value proposition is sound enough to withstand this temporary setback.
BTC Bull Token ($BTCBULL) Raises $900K Just a Few Days After Its Launch
Just three days after the BTC Bull Token ($BTCBULL) presale event kicked off, investors have poured an average of $300,000 per day into the project as it provides a new alternative to profit from Bitcoin’s surge to new all-time highs.
This new crypto ICO rewards investors once Bitcoin (BTC) has reached new price milestones. $BTCBULL holders will be compensated via token burns or BTC coins based on a clear roadmap.
For example, once Bitcoin touches the $125,000 level, a certain amount of $BTCBULL tokens will be burned. A total of 15% of the funds raised through the presale event will be allocated to this end.
Meanwhile, once the price rises to $150,000, $BTCBULL holders will receive BTC tokens bought with up to 10% of the funds raised via the presale.
At its discounted price of $0.002355, BTC Bull Token offers significant upside potential to early buyers. However, this presale price will be marked up within the next 3 days to compensate the most loyal supporters.
To buy $BTCBULL, head to the official BTC Bull Token website and connect your wallet. This is an ERC-20 token and you can buy it by converting ETH, USDT, or BNB or by using a bank card.
