Bitcoin price drops to lowest level since August after Asian market crash, but this new meme coin is approaching $1 million

bitcoin price plummeted 4% in the last 24 hours eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>to be traded at $56,582 at 12:34 a.m. EST, despite a 21% increase in trading volume to $31 billion.

On September 4, btc briefly fell to $55,000, its lowest level since August 8, reversing almost all of the gains from the past month. This comes after heavy losses were recorded in the US and Asian stock markets on Wednesday morning, with major stocks down nearly 10%.

bitcoin Price Is Bearish: Bulls Look For A Rally

bitcoin price has been in a downtrend over the past week, falling from the $64,000 resistance zone, according to data from eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>GeckoTerminal.

According to yesterday's analysis, bitcoin price fell below the $56,000 support zone as btc touched the lower boundary of the descending channel pattern.

bitcoin price is now trading below the 50-day and 200-day simple moving averages (SMA), which coincides with the current downtrend.

Moreover, the Relative Strength Index (RSI) is moving towards the oversold region of 30 at 34 as selling intensifies.

If the selling continues, bitcoin price could drop further to the support zone of $54,534.

However, the RSI now shows that btc is severely undervalued, which may prompt buyers to start buying at this level. In this scenario, btc could surge towards the $64,000 resistance zone, the current target of the bulls.

Amidst tough times for btc price, some investors are turning to the new meme coin project crypto Stars (STARS)which has already accumulated more than $955 thousand in its pre-sale.

According to Jacob Bury, a prominent cryptocurrency YouTuber, $STARS has the potential to skyrocket 10x after its launch.

crypto All-Stars closes its participation at the million dollar mark

Cryptocurrency All-Stars is a new innovative project that aims to revolutionize the meme coin space with its innovative MemeVault ecosystem.

The M͏e͏me͏Va͏ult Ecosystem represents a paradigm shift in how we interact with meme coins on the blockchain. It is not just another gaming platform, but a revolutionary ecosystem that integrates multi-token and multi-chain adaptation for meme coins.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”9.9459459459459″>

crypto All-Stars plans to integrate with big names like twitter.com/search?q=%24Pepe&src=ctag&ref_src=twsrc%5Etfw”>$Pepe, twitter.com/hashtag/Dogecoin?src=hash&ref_src=twsrc%5Etfw”>#Dogecoinand twitter.com/hashtag/ShibaInu?src=hash&ref_src=twsrc%5Etfw”>#ShibaInu .

This cross-pollination could skyrocket the visibility and adoption of the platform!

— web3telepath (@web3telepath) twitter.com/web3telepath/status/1824051758320009440?ref_src=twsrc%5Etfw”>August 15, 2024

MemeVault allows investors to stake popular meme coins to earn substantial rewards in $STARS, the platform’s native token.

Currently, you can stake meme coins such as Pepe, Dogecoin, Shiba Inu, Floki, Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu, and Bonk. More meme coins will be added in the coming months.

In addition to staking other meme coins, users can also Stake your $STARS tokens directlyenjoying an impressive annual percentage yield (APY) of 1,497%.

Currently, you can buy $STARS tokens for $0.0014191 each. But, since the price will increase in less than two hours, act fast to get the meme coin at the best possible price.

Buy $STARS from the official website here using BNB, USDT or a bank card.

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