Bitcoin News Today: Crypto Market Dips 5% as XRP, DOGE Fall 10%-22% Amid Tariff Fears and Profit-Taking Spur Presale Investments

The cryptocurrency market experienced a significant downturn in early August, with the global market cap dropping 5% to $3.93 trillion in 24 hours. Two of the most notable performers in this decline were XRP and Dogecoin (DOGE), both of which faced sharp corrections. XRP, the third-largest cryptocurrency by market capitalization, fell nearly 10% in a week, while DOGE, a prominent meme coin, retraced to a critical support level after a 22% drop over five days [1]. Analysts attribute these declines to a combination of profit-taking, macroeconomic uncertainties, and geopolitical tensions, including proposed U.S. tariff hikes by Donald Trump [1]. Amid this volatility, investors are increasingly turning to presale projects as a strategy to capitalize on discounted entry points and diversify their portfolios.

Bitcoin Hyper (HYPER), a Layer 2 scaling solution for Bitcoin, has emerged as a standout presale project. The initiative, which has raised $4.8 million, aims to enhance Bitcoin’s utility by integrating Solana’s Virtual Machine (SVM) to enable faster transactions, lower fees, and DeFi functionality. HYPER’s presale token offers a staking APY of up to 204%, with over 257 million tokens already staked [1]. Analyst Austin Hilton has highlighted the project’s focus on scalability and innovation as key drivers for long-term growth [1]. By leveraging zero-knowledge proofs and a secure bridge to transfer native BTC to its Layer 2 network, Bitcoin Hyper seeks to attract users seeking improved Bitcoin-based services.

TOKEN6900 (T6900), another presale token, has adopted a more unconventional approach. Marketed as a “brain rot finance” project, it combines humor and meme culture to build community engagement. Inspired by the viral success of SPX6900, T6900 has raised $1.1 million in its presale by allocating 40% of its token supply to marketing. While lacking a traditional roadmap, the project offers a staking APY of 55% and aims to replicate the momentum of meme coins. Analyst Cilinix Crypto has described T6900 as a high-risk, high-reward investment, emphasizing its potential for viral adoption within the meme coin sector [1].

Snorter (SNORT), a Solana-based presale, is targeting traders in the meme coin ecosystem. The project, which has raised $2.3 million, is developing a Telegram bot to optimize Solana trades with features like automated sniping, limit orders, and MEV-resistant relayers. SNORT holders can stake tokens for an APY of 174% and participate in governance. Analyst ClayBro predicts the token could surge sixfold, citing its utility-driven approach and growing adoption [1]. Despite a broader 5% drop in the Solana meme coin sector, Snorter’s low transaction fees (0.85% for holders) and advanced trading tools position it as a competitive player in the space.

As XRP and DOGE continue to face short-term volatility, the presale market offers investors alternative avenues to secure early-stage projects with strong utility propositions. Bitcoin Hyper’s Layer 2 innovation, TOKEN6900’s community-driven model, and Snorter’s trading-focused tools reflect diverse strategies for navigating the current downturn. While presales inherently carry higher risks, their discounted pricing and potential for rapid growth make them attractive for risk-tolerant investors seeking to diversify their crypto holdings.

Source: [1] [title: Best Crypto Presales to Ride the Dip as XRP and Dogecoin Prices Fall] [url: https://coinpedia.org/press-release/best-crypto-presales-to-ride-the-dip-as-xrp-and-dogecoin-prices-fall/]