Pepe Coin explodes by 1200 %weekly, while the cryptoma markets stagnate: the summary of this week

Pepe Coin explodes by 1200 %weekly, while the cryptoma markets stagnate: the summary of this week

The wider cryptocurrency market has not had any significant changes in the past seven days, with the total capitalization more or less remained as it was then. This happens on the back of a slight volatility in between, but nothing that could have been maintained. However, in view of the freshly shaped and now in the trend, Pepe is an obvious exception. Let's dive.

Bitcoin is more or less traded where it was exactly seven days ago - at $ 29,000. The cryptocurrency crashed to $ 27,500 in the middle of the week, but the bears could not withstand the sales pressure and the price recovered. The dynamic is shaky and the market participants are busy because the cryptocurrency is traded between $ 27,000 and $ 30,000. An outbreak into one of the two directions will probably determine the short -term development of the market.

Typically follows an explosive movement in times like this, so it is important to keep an eye on the markets at any time.

Speaking of explosive moves ... let's talk about Pepe.

For those of them who have not followed space recently, Pepe is a brand new Memecoin that was shaped less than three weeks ago. At that time it made headlines for the first time, increased for a market capitalization of several million dollars and produced some success stories in view of people who earned hundreds of thousands of dollars on his back.

But in the quick run to this day, this brand new Memecoin is now being traded on all major stock exchanges, including Binance, and has managed to achieve a market capitalization of over a billion US dollar. This makes it one of the top 50 coins after overall market capitalization, and who knows how much higher it can go. Will it challenge Shib and Doge? If one thing is clear, then that everything can happen on the cryptocurrency market, so it is very exciting to see how it will develop in the next few days.

market data

Market capitalization: 1,257 billion $ | 24-hour band: $ 43 billion | BTC dominance: 45.2 %

BTC: 29.313 $ (-0.6 %) | ETH: $ 1,949 (+2 %) | BNB: $ 327 (-1.5 %)

The crypto headlines this week that you are not allowed to miss

The market capitalization of Pepe increases to over $ 1 billion $ 1 billion PEPE this week, and it is the cryptocurrency that has risen by a whopping 1200 % in seven days. This was only accelerated after the decision by Binance to list it to the trade.

The average gas fee of Ethereum reached a 12-month high in the middle of the resolution of Memecoin In the middle of the continued meme hype, gas fees on Ethereum also shot up. They reached a 12-month high.

Coinbase records net loss of $ 79 million, but exceeds the expectations Coinbase for the first quarter of 2024 a net loss of $ 79 million. Nevertheless, the results were not expected as badly as originally expected, which could be due to the market recovery.

SUI was confronted with massive volatility minutes after the start of the Mainset. The latest candidate in the L1 field-SUI-has experienced his start-up start this week. Unfortunately for the native cryptocurrency of the protocol, this led to a massive drop in prices.

fed announce interest increase by 25 basis points to 5 %, Bitcoin remains unchanged. Another month, another rate increase. This time the US Federal Reserve increased interest rates by a further 0.25 basis points to 5 %. The cryptocurrency market did not react.

The bid administration urges the congress to say goodbye to a 30 percent tax on Bitcoin. The government of US President Joe Biden proposed a 30 percent tax on Bitcoin mining. The change bears the title Digital Asset Mining Energy (DAME) Consumption tax.

diagrams

This week we have a chart analysis from Ethereum, Ripplecardano, Pepe and Tron - click here for the full price analysis.

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