Cryptocurrencies Price Prediction: Pepe, Polygon & Optimism — Asian Wrap 30 May

FXStreet Team FXStreet

Pepe Price Forecast: PEPE could drop 25% as smart money investors turn to Dogecoin

Pepe (PEPE) price has shown a lack of buyer participation throughout May, switching between neutral and bearish biases as the meme coin's hype and sensation eased. The lack of momentum for PEPE was so extreme that it failed to react to Bitcoin (BTC) price's influence over the weekend as crypto markets rallied.

About 4 billion MATIC stands inches away from turning profitable again as MATIC price nears $1

MATIC price has been stuck under a key barrier for the entirety of May, and as the month comes to a close, the chances of the altcoin breaching this barrier seem bleak. However, if the cryptocurrency finds support from its investors, June might look green for MATIC.

Optimism price slips to four month-low despite OP holders exhibiting strong faith in the altcoin

Optimism price is not straying too far away from the broader market cues when it comes to charting its path. However, while the larger market may not have the support from its investors, OP seems to have never lost it.

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Ripple nears lifeline support as macro risks intensify

Ripple continues to face significant selling pressure, sliding below $1.10 at the time of writing on Wednesday. This decline mirrors the broader weakness in the crypto market, exacerbated by mounting macroeconomic headwinds and persistent geopolitical uncertainties.

Crypto Today: Bitcoin, Ethereum, XRP trade under pressure as September Fed rate-hike odds increase

Bitcoin is trading between $62,000 and $63,000 at the time of writing on Wednesday, weighed down by headwinds stemming from macroeconomic uncertainty and geopolitical tensions in the Middle East, especially as the US and Iran continue to offer conflicting accounts of the nuclear discussions.

Cardano vulnerable to deeper losses amid SecondFi exploit

Cardano price hovers below $0.1500 at press time on Wednesday, extending a refreshed bearish impulse move of over 20% in the last nine days. The exploitation of the Cardano ecosystem’s SecondFi wallet-generation software, resulting in a loss of about 16 million ADA, weighs on retail strength.

Bitcoin struggles as institutional demand remains weak

Bitcoin remains under pressure, trading around $62,700 on Wednesday after losing 2% the previous day. Persistent institutional selling, with spot Exchange Traded Funds (ETFs) recording outflows on Tuesday, continues to weigh on BTC.

Bitcoin: Recovery hopes fade after the Fed spoils the party

Bitcoin (BTC) is set to end the week in the red, trading near the 200-Week Simple Moving Average (SMA) at around $62,300 on Friday. Institutional selling persists, capping BTC’s recovery as spot Exchange Traded Funds (ETFs) point to a sixth consecutive week of outflows.