DOGE Token Holders Venture Into New VR ICO, Looking For 1,763% Returns
As Dogecoin (DOGE) probes for a breakout to the downside of key medium-term support, DOGE token holders are venturing into a new VR ICO called 5thScape (5SCAPE) as they hunt for 1,763% returns.
Dogecoin hit its lowest level in two months on Wednesday, just south of $0.12. But support in this area is holding up the price for now.
Crypto has been selling off recently as Bitcoin ETFs saw outflows and following a week ETF debut in Hong Kong.
#Bitcoin ETF Update (April 30)
– Total net outflows from Bitcoin spot ETFs: $162M
– Grayscale ETF $GBTC alone saw outflows of $93.23M
– GBTC's historical net outflow now totals $17.30B
– Overall $BTC spot ETF value drops below $50B to $49.41B pic.twitter.com/3yRDjIMKkv
— @TheLordofEntry (@thelordofentry) May 1, 2024
Macro headwinds have also been hitting the market. The Fed just reiterated its reluctance to begin cutting interest rates soon.
#BITCOIN BACK ABOVE $58,000 AS FED CITES 'LACK OF FURTHER PROGRESS' FIGHTING INFLATION
— *Walter Bloomberg (@DeItaone) May 1, 2024
That’s due to recent data showing that US inflation remains uncomfortably hot, including wage growth data released yesterday.
Should macro headwinds worsen later in the week, a distinct possibility with US PMI and jobs data due, Dogecoin could easily soon break $0.12 support.
That would open the door to a quick drop back to $0.1050 support.
With the near-term outlook for Dogecoin downbeat, it’s no surprise that investors are looking to diversify.
One project that is attracting a lot of attention is the new VR ICO 5thScape.
The 5thScape presale is attracting a lot of attention, with investors betting it will become a market leader.
5thScape is a first-of-its-kind crypto-powered VR/AR project, set out to build a crypto-powered VR ecosystem.
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