The cryptocurrency market remains relatively stable throughout the day, with the exception of PEPE, which continues to show significant growth. In recent days, there has not been much movement in the market and even the US Federal Reserve rate hike has not generated the volatility that usually happens.
Bitcoin: Stagnant price and low volatility
Bitcoin price has not shown significant results in the last 24 hours and remains where it was – around $29K. The price did show some volatility, briefly hitting $29,500, but retraced almost immediately as buyers failed to maintain momentum.
It looks like BTC price is stuck in a relatively narrow range, and breaking that range, up or down, is likely to determine its direction in the short term. However, at the time of this writing, volatility remains minimal.
Liquidations in the last 24 hours are around $26 million, specific to Bitcoin, which proves the low volatility.
Altcoins: highlight for the PEPE memecoin
Most cryptocurrencies failed to show notable increases, with the exception of the PEPE memecoin.
Launched less than three weeks ago, PEPE already trades with a market cap close to a staggering $1 billion. This provided unimaginable returns for early investors, provided they didn’t sell, of course. There are many stories of people who have turned small double-digit amounts into hundreds of thousands of dollars.
In any case, it will be interesting to see whether PEPE can maintain its rise and eventually challenge SHIB and DOGE cryptocurrencies.