Bitcoin Flat to $29K, PEPE Continues Epic Bull Run (Market Watch)

Not much has happened in the market in recent days, and even the rate hike by the US Federal Reserve did not invoke the volatility that it usually does.

However, there is one obvious exception and that is the booming memecoin – PEPE. All eyes are on the frog-inspired cryptocurrency as it continues its epic bull run and roams the top 100.

Bitcoin Flatlines to $29K

Bitcoin’s price failed to produce any meaningful results in the last 24 hours and remains where it was then – at $29K. The price went through some volatility, losing $29.5K briefly, but pulled back almost immediately as the bulls failed to sustain the momentum.

BTC price appears to be stuck in a relatively tight range, and breaking out or below it is likely to determine its direction in the short term. However, as of this writing, volatility remains minimal.

The liquidations in the last 24 hours are around $26 million, specifically for Bitcoin, which testifies to the relatively low volatility.

PEPE leads the Altcoin market

Altcoins have also failed to perform impressively over the past 24 hours, as shown in the heat map below.

Most of the cryptocurrencies have failed to chart any noticeable increases. The only exception to this is PEPE memecoin.

PEPE was launched less than three weeks ago and is already trading at a market value approaching a whopping $1 billion. This has produced incredible returns for early investors, assuming they didn’t sell, of course. There are several stories of people turning small double digit sums into hundreds of thousands of dollars.

In any case, it will be interesting to see if PEPE will be able to maintain the ascent and if it will eventually challenge SHIB and DOGE.