After a few days of price declines, PEPE has made an impressive recovery.
Bitcoin attempted to break through $27,000 yesterday but failed due to low weekend trading volumes and remained relatively stagnant. While ETH reclaimed $1,800 and BNB surpassed $310, altcoins lacked significant price movements.
BTC Stays Stable The past few days haven't been favorable for the primary cryptocurrency. It started on Wednesday when the asset jumped from $27,500 to $28,400 shortly after the release of April's US CPI figures.
However, BTC quickly reversed its trajectory, dropping almost $2,000 to reach its lowest level in weeks at $26,600 (Bitstamp). Bulls attempted to halt the price decline, pushing the cryptocurrency back up to $28,000. Yet, another rejection followed, pushing it back to $27,000. As the weekend approached, BTC dipped below $26,000 for the first time in two months.
Nevertheless, it managed to bounce back in the past 24 hours, even challenging $27,000, but so far without success. Currently, the asset is trading a few cents away from that level. However, its market capitalization has risen to $520 billion again, maintaining dominance over altcoins at 46.3% on a daily basis.
PEPE Returns to the Field Over the past month, the talk in the crypto town has been about the recently launched memecoin, PEPE. Its market capitalization surged from $1 million to nearly $2 trillion during this period, making it undoubtedly the best-performing company that made overnight millionaires out of numerous investors.
Amidst the heightened hype, significant exchanges like BitMEX and Binance announced listings. However, this turned into a selling news as PEPE lost more than half its value in the following days. The past 24 hours have been more positive for the memecoin, experiencing a 20% increase. Nonetheless, PEPE is still down over 30% on a weekly scale.
On the other hand, larger-cap altcoins like ETH, BNB, XRP, ADA, DOGE, SOL, and others are sitting quietly with minimal or no movement today.
This article is not investment advice. Anyone considering investing should do their own research and take their own risks.
