PEPE is the number one cryptocurrency by means of overall market performance, acquiring a market capitalization upwards of $1 billion in less than three weeks.
The broader cryptocurrency market failed to chart any notable changes in the past seven days, with the total capitalization remaining more or less what it was back then. This comes on the back of slight volatility in between, but nothing that could have been sustained. That said, there’s an obvious exception in the face of the freshly-minted and now-trending PEPE coin. Let’s dive in.
Bitcoin is trading more or less where it was exactly seven days ago – at $29K. The cryptocurrency plunged toward $27,500 in the middle of the week, but the bears were unable to sustain the selling pressure and the price recovered. The momentum is shaky, and market participants are on their toes as the cryptocurrency is trading within a range between $27,000 and $30K. A breakout in either direction will likely dictate where the market will be headed in the short term.
Typically, it’s during times like these when an explosive move follows, so it’s important to keep an eye on the markets at all times.
Speaking of explosive moves… let’s talk about PEPE.
For those of you who haven’t been following the space recently, PEPE is a brand new memecoin minted less than three weeks ago. It first made the news back then, soaring toward a multi-million dollar market cap and producing a few success stories in the face of people who made hundreds of thousands of dollars on its back.
However, fast-forward to today, this brand new memecoin is now traded across all major exchanges, including Binance, and has managed to acquire a market cap of over a whopping $1 billion. This puts it in the top 50 coins by means of total market cap, and who knows how much higher can it go. Will it challenge SHIB and DOGE? If one thing is clear, it’s that anything can happen within the cryptocurrency market, so it’s very exciting to see how it will shape up in the next few days.
Market Data
Market Cap: $1,257B | 24H Vol: $43B | BTC Dominance: 45.2%
BTC: $29,313 (-0.6%) | ETH: $1,949 (+2%) | BNB: $327 (-1.5%)