Dogecoin (DOGE) price fell by 4% on Sunday as the overall crypto market experienced further decline, while a new meme coin project, Bitcoin Pepe, managed to raise over $7 million in its presale.

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Dogecoin price dropped by 4% in the last 24 hours, rendering it the lowest performer among the top ten cryptocurrencies by market capitalization. It is currently trading at $0.1770 and could fall to another support level of $0.160 if the market continues moving down.

On the other hand, Bitcoin price dropped below $94,000 and fell to a new support zone around $91,000, which could be tested in the coming hours or days.

Meme coins generally performed poorly this weekend, with most of them dropping by 3% or more in the last 24 hours. However, new meme coin projects, especially those that manage to attract market interest, continue to be launched.

Bitcoin Pepe is advancing with a layer-2 solution that aims to unlock Bitcoin’s liquidity for trading meme coins. The project’s ongoing presale is now entering a new phase as it tries to increase its funding potential further.

This venture marks the first Initial Coin Offering (ICO) for meme coins on the Bitcoin blockchain and is expected to gain significant traction once the product and token are launched. Currently in its presale phase, Bitcoin Pepe will proceed to its tenth step once it reaches a total of $7.7 million in funding.

Investors are quickly grabbing the opportunity to secure early positions within this project. The $BPEP token, which powers the entire Bitcoin Pepe ecosystem, is available for purchase on the Bitcoin Pepe website, accepting ETH, USDT, USDC, BNB, and SOL.

Is Bitcoin Pepe a good investment?This venture is designed to become a large-scale project, depending on its adoption. The team is developing a layer-2 network that will be used for trading meme coins on the Bitcoin blockchain.

The choice of Bitcoin was made due to its massive liquidity and security. While NFTs and DeFi protocols already exist on the Bitcoin blockchain, trading opportunities for meme coins have been largely absent until now.

Bitcoin Pepe’s layer-2 network will enable trading of meme coins on Bitcoin, allowing developers to transfer their meme coins to the Bitcoin network. This layer-2 network will provide developers with the tools to migrate meme coins to the Bitcoin ecosystem.

With numerous meme coins already available in the cryptocurrency market, many face issues with liquidity and security. Introducing meme coins on the Bitcoin blockchain could offer access to its significant liquidity, which is estimated at over $1 trillion.

With the right conditions in place, Bitcoin Pepe might become a leading layer-2 network in the cryptocurrency landscape. The $BPEP token will be used for transactions within the Bitcoin Pepe ecosystem, ensuring that developers and users utilize this token for various exchanges.