Ethereum Price Drop Causes Major Declines in Top NFT Collections
Ethereum's price has declined over 10% from last week's all-time high, currently near $4,400. This drop has impacted major non-fungible token (NFT) collections.
Top NFT Projects on the Decline
- Pudgy Penguins fell 17.3% to a floor price of 10.32 ETH.
- Bored Ape Yacht Club (BAYC) decreased 14.7% to 9.59 ETH.
- Doodles dropped 18.9% to 0.73 ETH.
- Moonbirds and Lil Pudgys declined by 10.5% and 14.6%, respectively.
Top NFTs saw a major drop against Ethereum last week. | Source: DeFiLama
Despite the declines, trading volume remained robust. Pudgy Penguins led with approximately 2,112 ETH traded ($9.36 million), followed by Moonbirds at 1,979 ETH ($8.77 million) and CryptoPunks at 1,879 ETH ($8.33 million). The overall NFT market cap has fallen to $7.7 billion, down 5% from previous levels.
Ethereum Price Will Come to Test Its 200-EMA
Analysts predict Ethereum may test its 200-EMA at approximately $4,088 after reaching a peak of $4,900. The bullish trend remains intact unless support at $4,000 is lost. A sustained break above $5,000 could signal further upward movement.
Maxi Doge Raises Over $1.5M Within Its First Month of Launch
The newly launched meme coin Maxi Doge has raised over $1.5 million in its first month, indicating strong investor interest. Key details include:
- Ticker: MAXI
- Network: Ethereum
- Token Price: $0.000254
- Funds Raised: $1.55M