• Bitcoin is trading more or less where it was exactly seven days ago – at $29K.
• PEPE coin has experienced a market capitalization of 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.
Bitcoin Price Stagnation
Bitcoin is trading more or less where it was exactly seven days ago – at $29,000. The cryptocurrency dipped towards $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 Bitcoin is trading within a range between $27k and 30k. A breakout in either direction will likely dictate where the market will be headed in the short term.
Explosive Growth of PEPE
PEPE is a brand new memecoin minted less than three weeks ago that has quickly gained traction among crypto enthusiasts. It first made headlines after soaring towards a multi-million dollar market cap and now boasts an impressive capitalization upwards of $1 billion in just under three weeks – making it one of this week’s most remarkable success stories.
Impact on Crypto Markets
The explosive growth of PEPE stands out against an otherwise stagnant cryptocurrency market, with total capitalization largely remaining unchanged for much of this week. That said, there’s always potential for an explosive move to follow times like these; so keeping an eye out on all markets is highly recommended for traders who wish to take advantage of potential opportunities when they arise.
As both Bitcoin and PEPE continue to remain volatile assets due to their high risk/reward profiles, traders should exercise caution when investing in either asset class – especially during times when momentum could swing either way without warning (such as today). As such, proper risk management techniques should be adhered to if one wishes to succeed while trading cryptocurrencies over time.
This week’s performance highlights two sides of cryptocurrency investing: one marked by extreme volatility and another which offers stability with rewards coming from long-term investments rather than speculative trades. While each approach may work depending on your goals as a trader – investors must always remember that no matter which path they choose there are still risks involved that should be taken into account before committing funds into any asset class whatsoever!