PEPE, FLOKI Double Digit Skyrocket, Bitcoin Stopped Before $30,000: Weekend Watch

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Bitcoin initiated an advance in the past 24 hours that brought it within inches of the coveted $30,000 line. However, the asset has not yet crossed it.

Altcoins are also on the rise, with ETH approaching $2,000, while SOL and UNI are up 4% daily. However, the day belongs to PEPE and Floki Inu.

Bitcoin stopped before $30,000

The work week, which was also the start of the new month, started off on a bad note for bitcoin, which slipped around two thousand hours to hit a multi-day low of $27,650 (on Bitstamp). However, the bulls managed to defend the asset’s position and pushed it over $28,000 soon after.

The FOMC meeting could not shake the BTC cage either. The latest 25 basis point interest rate hike, which may in fact be the last, had no immediate effect on bitcoin. A few hours later, however, the asset started to appreciate in value and fetched $29,000.

In the past 24 hours, the price of bitcoin has risen further, taking it to just under $30,000. Nevertheless, BTC has not been able to break above this level so far and sits around $500 below.

Its market capitalization has approached $570 billion, while its dominance over altcoins is 47%.

BTCUSD. Source: TradingViewPEPE, FLOKI on the run

The last few days have been dedicated to a relatively new cryptocurrency PEPE. Launched in mid-April, it’s essentially a memecoin with no real use. However, the crypto market is notorious for seeing the popularity and price of these projects explode rapidly, which was the case with PEPE.

It has frequently recorded double and even triple-digit daily increases, earning it entry into the top 100 and even the top 50 of digital assets by market capitalization since yesterday. The latest push came when Binance announced the listing of PEPE, along with Floki Inu, in its Innovation Zone.

Somewhat expectedly, FLOKI has also soared over 40% in the past 24 hours. This memecoin is now also among the top 100 coins by market cap, as it is trading near $0.00005.

The top ten altcoins saw much more modest price increases like Ethereum (3.6%) and Solana (4%). Uniswap mined $5.5 after a similar daily jump.

The total crypto market capitalization recovered the $1.2 trillion line after gaining around $20 billion daily.

Presentation of the cryptocurrency market. Source: Quantify Crypto SPECIAL OFFER (sponsored) Binance Free $100 (exclusive): Use this link to sign up and receive $100 free and 10% fee discount on Binance Futures for the first month (terms).

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Cryptocurrency charts by TradingView.

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