Even though the meme market is trembling right now, memecoins were the ‘most profitable crypto narrative’ in Q1 2024 — CoinGecko.
According to the report, meme coins recorded the highest returns of 1,312.6% on average across the top tokens by market capitalization. Memecoins launched in March made it to the top 10 largest meme coins list by market value by the end of the quarter.
One of the undervalued ones of this lot seems to be BEFE.
Current state
BEFE has seen a massive 50%+ fall in the last one week. The main reason behind this fall is:
- Settling of presale phase 5, where the phase subscribers sold their BEFE-holdings at a higher price.
- The Iran-Israel conflict led to a massive hit on the cryptocurrency market in general.
- BEFE saw a considerable surge in the last one month, which is why, this is just a reversal phase.
What makes BEFE attractive?
BEFE has seen a massive overall growth of 554.23% since its launch on November 2023, as recorded on April 2, 2024. When we compare this to crypto-biggie Shiba Inu in the same time frame after its launch, it’s a 5x growth.
In fact, experts predict and hope that BEFE will surge over 800% because of the following reasons:
Looking at BEFE’s holders’ data on BSCScan, it is clear that the coin has massive whales contributing their money and time to the project. Such high support from whales says a lot about the coin’s potential and future.
Also, BEFE recently got listed on Solana’s Raydium. It is also planning on getting listed on ATH and one other exchange by the end of this month. With every new exchange listing, BEFE’s exposure increases, hence increasing its potential 3x in this one month itself.
To add to that, it is usually a common scene that meme coins follow Bitcoin’s tail. With the recent Bitcoin halving event, the entire market saw an upsurge. However, the meme market, in particular, even saw 7000%+ returns. The BTC and ETH growth doesn’t seem to slow down.
What should you do next?
BEFE is in a sensitive state right now. If it breaks its current resistance level and hits the price of 0.000472, it can reach resistance levels of $0.0005737 and $0.0011996. If the trend reverses, the price of BEFE may fall to support of $0.0003934. However, in the long term, this seems an excellent Bullish state for the coin.
But be careful, and DYOR before you make any decision.
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
