Pepe (PEPE), a prominent meme coin, experienced a modest decline of around 3% in the previous 24 hours, despite a large whale acquisition of 160.4 billion PEPE tokens, valued at approximately $1.31 million. Such acquisitions often lead to price increases, leaving investors anticipating a reversal.
Meanwhile, macroeconomic policies in the U.S. and Japan have fueled bullish momentum in Bitcoin. The cryptocurrency's price surged this week following interest rate decisions by the Federal Reserve and the Bank of Japan. Since the U.S. Federal Reserve decided to lower interest rates, Bitcoin has seen an 11% gain, surpassing $62,000 for the first time this month. Other altcoins are also exhibiting positive price movements.
The Sandbox (SAND): BharatBox, a collaboration between The Sandbox and the Brinc accelerator, launched its inaugural avatar collection last month. Arbitrum (ARB) has also shown promising market activity, potentially signaling a rally after several weeks of downward trading.
Ordi (ORDI): Following its launch, ORDI became the first BRC-20 token to achieve a $1 billion market cap, a notable achievement in decentralized finance (DeFi). Polkadot (DOT) currently trades at $4.42, showing a 3.20% daily gain.
Memebet draws attention with its innovative approach that combines online gambling and cryptocurrency. Bitcoin reported a 5.5% increase following a rate cut over the week, while MicroStrategy expanded its holdings.
Post-launch, ORDI became the first BRC-20 token to surpass $1 billion in market capitalization, marking a significant milestone in decentralized finance (DeFi).
ORDI trades at $35.66, reflecting a 5.18% rise in the past 24 hours, with strong liquidity for its market size.
Projections suggest a price increase of 230.25%, reaching $114.89 by October 2024.
Polkadot (DOT) is priced at $4.42, reflecting a 3.20% intraday rally, with high trading volume and strong liquidity.
Technical indicators suggest the price is at the lower limit of the Bollinger Bands, indicating a potential oversold condition.
The high trading volumes and involvement of major players suggest the recent dip may be temporary, with potential for an upward movement in the near term.