He Bitcoin SV (BSV) price it has fallen 1% in the last 24 hours, with its drop to $39.29 coming as the cryptocurrency market as a whole is enjoying a 5.5% gain today.
This drop comes after Ripple received a positive ruling in its SEC case, something that has sent most altcoins much higher, but seems to have dampened market appetite for Bitcoin forks like BSV.
This means that BSV is also down 7% in a week and 22% in the last 12 months, and the coin is at risk of falling out of favor now that investors feel more confident in buying other alternatives.
And BSV isn’t just the major altcoins to worry about, as several new pre-sale tokens have emerged in recent weeks to offer higher gains, with Thug Life Token (THUG) being one of the most promising.
Bitcoin SV Goes to Zero, but Viral Meme Coin Thug Life Just Raised $1.4 Million – Less Than 3 Days Left
The BSV chart suggests that the cryptocurrency may have more losses in store, with its Relative Strength Index (purple) falling from 50 to 40 in recent days, indicating a loss of momentum.
The coin’s 30-day moving average (yellow) is also steadily sliding lower and looks set to dip below its 200-day average (blue) soon, a move that tends to signal further substantial losses.
BSV had performed positively in the wake of SEC legal actions against Binance and Coinbase, in which the regulator labeled a number of tokens, but not BSV (and other Bitcoin forks), as securities.
However, since Ripple’s case against the SEC concluded with the presiding judge finding that XRP is not itself a security, altcoins like Solana, Avalance, Cardano, and many others have rallied in a big way.
This took the shine off BSV (as well as Litecoin and Bitcoin Cash), and it is entirely debatable that the coin could see a steady decline in the coming weeks or months.
Fortunately, there are other smaller-cap altcoins at the moment that show real potential for big rallies in the near future, with the best pre-sale tokens, which can rise sharply after listing, looking particularly promising.
This includes Thug Life Token (THUG), a new meme coin that has raised an impressive $1.5 million in its presale, which has only three days left.
Running on the Ethereum blockchain, THUG has been steadily building an online community for itself after aligning itself with the gangsta rap and hip-hop communities, from which it draws its memes and styles.
THUG is due to list after the conclusion of its pre-sale, which has been allocated 70% of the coin’s total supply (4.20 billion), a move that will help make it remarkably decentralized.
This highly distributed allocation will also help make the THUG community more interested in the token, which in turn will make them more willing to support it and attract new followers.
This is why THUG holds more promise than 99% of the junk meme tokens that have been listed on the DEX this year, with a community vital for a meme coin to survive.
To join the THUG pre-sale and its community, interested investors can visit the official Thug Life Token website and connect their crypto wallets.
1 THUG costs $0.0007, though this price is likely to be surpassed when THUG is listed on trades in the next week or so.
Visit Thug Life Token now
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all your capital.
