Bitcoin wobbles; ChowWow presale gains support
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Bitcoin dips below $94k amid U.S. inflation data, while ChowWow presale catches the attention of holders seeking high growth potential.
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The price of Bitcoin has experienced increased volatility, declining below $94k. This was influenced by U.S. inflation data, which was higher than the estimated value across the board. Notably, the January print of the Consumer Price Index (CPI) exceeded the expected monthly and yearly timeframes. However, Bitcoin has seen a modest rebound.
Meanwhile, ChowWow (CHOW), a new entrant in the play-to-earn meme coin market, has captured attention with its tokenomics and high growth potential.
Bitcoin dips to $94k as crypto retreats on US CPI overshoot
Bitcoin dipped below the $95k mark around February 12 on the Wall Street open due to United States inflation data. The January print of the CPI was higher than expected. The US Bureau of Labor Statistics data shows that the CPI rose 0.5% last month, a conspicuous 0.2% more than expected.
The year-on-year surge was 3% against a forecast of 2.9%. Bitcoin’s price sought a modest rebound but still struggles in the mid-$90k zone, with analysts weighing buyer interest. According to Skew, a popular crypto analyst, there was plenty of liquidity between the current spot price and the lower range at $90k.
A decisive move above the last high at $96,690 will strengthen a yellow scenario case backed by impulsive price behaviour. Conversely, a sustained BTC price drop below the $93,630 level would favor more dips, turning support zones into resistance.
ChowWow: The new GameFi meme coin
ChowWow is a community-oriented meme coin that seeks to emulate the unique attributes of the majestic Chow Chow dog. The dog is popular in China and is often associated with good fortune and prosperity. ChowWow intends to blend these qualities into its CHOW token, which will introduce a broader ChowWow universe built for gamers and crypto lovers.
According to popular crypto analyst Danjo Capital Master, the CHOW token will allow players to earn rewards for in-game achievements and convert them into real-world value. Moreover, by staking the CHOW tokens, users can earn interest, which will be paid monthly in additional CHOW tokens. Ten percent of the total supply will be allocated for gaming rewards and 10 percent for staking rewards. Holders will have the chance to enjoy between 8% and 15% APY.
The ChowWow project has also been built with the community in mind. This means that It will incorporate features like airdrops and gaming to develop and expand its community. Additionally, it will offer added utility with staking features designed to encourage community participation and loyalty. In stage one of its presale, the CHOW meme coin sells for just $0.008, with more incoming gains with each presale stage.
Can ChowWow mirror Bitcoin price movement?
The Bitcoin price dipped below $94k following the US inflation data exceeding estimates across the board. However, the BTC price has managed to reclaim levels above $95k as a new meme token aims to revolutionize the GameFi market. ChowWow, in stage one of its presale, is looking to lure meme coin investors with its unique gaming features backed by the Solana blockchain.
To learn more about ChowWow, visit ChowWow presale.
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