PEPE Shoots Up 20% Daily, Bitcoin Flat at $27K (Weekend Watch)

Bitcoin tried its hand at dropping $27,000 yesterday but failed as volumes fell over the weekend and remained relatively flat.

Altcoins also lacked any major price moves, with ETH reclaiming $1,800 and BNB pumping above $310.

Bitcoin remains stable

The past several days have not gone well for the major cryptocurrency. It all started on Wednesday when the asset jumped from $27,500 to $28,400 in minutes after the US CPI figures for April were released.

Although BTC started to attack first, it almost immediately reversed course and aggressively catapulted nearly $2,000 to a multi-week low of $26,600 (on Bitstamp).

The bulls attempted to intercept the price drop and pushed the cryptocurrency back to $28,000. However, another rejection followed, sending it down to $27,000. Heading into the weekend, BTC once again fell below $26,000 for the first time in two months.

However, it managed to rebound and even challenge $27,000 in the last 24 hours but to no avail so far. As of now, the asset is trading far from that level, but its market capitalization has risen again to $520 billion. Its dominance over alternatives is also steady on a daily basis at 46.3%.

Pep again in the attack

The word in crypto city for the past month or so has been on the recently launched memecoin – PEPE. It arguably became a top performer as its market capitalization rose from $1 million to nearly $2 trillion over that time frame, making many investors wealthy overnight.

As the hype was at its highest, listings appeared on multiple exchanges, such as BitMEX and Binance. This turned out to be a selling moment of news as PEPE lost more than half of its value in the following days.

The past 24 hours have been more positive for memecoin, which is up 20%. Despite this, on a weekly basis, PEPE is still down more than 30%.

By contrast, larger cap altcoins are quieter today, with little to no moves from the likes of ETH, NB, XRP, ADA, DOGE, SOL, and many more.