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The Flare price slumped 17% in the last 24 hours to trade for $0.01966 as of 01:04 a.m. EST.
FLR token’s dump comes amid a crypto crash that’s seen a bloodbath for altcoins as bearish sentiment prevails in the Bitcoin market that dominates the trading of digital assets.
#Flare $FLR looks almost identical to Bitcoin’s bear market after the 2018 bull run
We are at max fear right now
I’m a buyer pic.twitter.com/7wWUiuGSDS
— Flare Vault (@FV887606) July 5, 2024
That bearish sentiment has caused traders to disregard bullish developments in the Flare network. Among them, Flare, a Layer 1 blockchain, integrated with LayerZero V2 to connect with 75 different blockchain networks.
This will see the Flare ecosystem enhance the potential for decentralized applications (DApps) by enabling data sharing across networks.
🔥 @LayerZero_Labs announces integration with @FlareNetworks
#LayerZero integrates with #Flare, a #Layer1 blockchain that operates on the EVM framework. Through this integration, Flare will connect with 75 other chains and get access to more than 50,000 decentralized… pic.twitter.com/Rl86VDwnuP— PHOENIX – Crypto News & Analytics (@pnxgrp) July 4, 2024
Flare Price Prediction
The Flare price is trading with a bearish bias, recording lower highs as it consolidates within a falling parallel channel. Looking at the Relative Strength Index (RSI) position below 30, however, there may be no more downside as FLR is already oversold. This means a recovery may be imminent but is pending confirmation.
Traders looking to capitalize on the prospective pullback should wait for the RSI to break and close above the 30 threshold in the one-day timeframe. Meanwhile, the chart shows that the Flare price could continue south. The Awesome Oscillator (AO) is in negative territory accentuating the prevailing bearish sentiment in the FLR market.
If the centerline of the channel fails to hold as a support, the Flare price could extend the fall to the depths of $0.01500.
TradingView on CoinGecko: FLR/USD 1-day chart
On the flip side, if a pullback does happen, the Flare price could recover with the bulls seizing the opportunity to buy the dip. The ensuing demand pressure could see the Flare price recover. Nevertheless, only a candlestick close above $0.04156 would invalidate the bearish thesis.
As the Flare price continues to dump, some experts say investors should consider Pepe Unchained (PEPU), a layer-2 meme coin ICO that’s blasted past $2.3 million in funds raised in less than three weeks.
YouTube channel 99Bitcoins, boasting over 705K subscribers, says PEPU is one of the best cryptos to buy now with the potential to soar 100X after its launch.
Promising Alternative To Flare
Pepe Unchained is a meme coin project following in the footsteps of meme coin titan Pepe (PEPE). But PEPU is a big upgrade on PEPE because it brings its own proprietary Ethereum Layer 2 blockchain.
With this, Pepe Unchained looks to address the scalability, speed, and efficiency issues that often plague meme coins built on the Ethereum Layer-1 blockchain.
Pepe has broken his chains with his own layer 2 blockchain solution:
🧠 Instant bridging between ETH and Pepe Chain
🧠 Lowest transaction fees
🧠 100x faster transaction speeds compared to ETH
🧠 Dedicated Block ExplorerJoin the future with Pepe Unchained! ⛓️🐸 pic.twitter.com/hluCsuV1Xz
— Pepe Unchained (@pepe_unchained) July 1, 2024
As a Layer-2 (L2) blockchain meme coin, Pepe Unchained will allow investors to seize market opportunities with greater efficiency. Instead of HODLing and waiting, investors can consider staking their tokens for an 825% annual percentage yield (APY).
Congratulations to the early joiners who secured Pepe Unchained at the perfect time 🥂
Join now before the next stage begins! pic.twitter.com/ykaW2rAwho
— Pepe Unchained (@pepe_unchained) July 3, 2024
You can buy $PEPU tokens for $0.0082596 each. With a price hike coming in a little more than 20 hours, buy soon to lock in the best deal.
Visit and buy Pepe Unchained here.
Also Read:
PlayDoge (PLAY) – Newest ICO On BNB Chain
- 2D Virtual Doge Pet
- Play To Earn Meme Coin Fusion
- Staking & In-Game Token Rewards
- SolidProof Audited – playdoge.io
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