The Bitcoin price remains around $29,000 as volatility and market volume fall. Bitcoin’s purchasing and selling volume has declined significantly in contrast to the previous buying and selling day, reducing the global buying and selling volume by more than 10%. Meanwhile, the PEPE value, which appeared barely a fortnight ago, has increased by more than 230% in quantity.
Currently, the buying and selling volume and market capitalization of PEPE has surpassed $1 billion, indicating a significant accumulation of liquidity within the new coin. As a result, now that the momentum has switched from the top cryptos to the most recent and trending tokens, how long will the BTC value maintain its current worth?
Binance recently took advantage of the ongoing alternative and listed PEPE and FLOKI on its marketplace. Following the listing, many predicted a massive sell-off of PEPE tokens, which appears to have occurred as a whale unloaded 150 billion tokens for a gain of 1350x, or around $500K.
Aside from that, the financing fee on PEPE remains negative across the board, and the value is expected to suffer due to unfavorable funding. However, Bitcoin is still consolidating in small areas, trapped at $29,000, as demand for the token appears to have dropped little recently. However, this does not guarantee that the value will continue to trade in the exact locations as long as liquidity flows back to the star crypto from other altcoins or ‘Memecoins‘ like PEPE.
