PEPE shoots up 20% daily, bitcoin flat at $27K (weekend watch)

Bitcoin attempted to drop below $27,000 yesterday but failed and remained relatively stable amid low weekend trading volumes.

Altcoins are also lacking any significant price action, with ETH pumping above $1,800 and BNB above $310.

bitcoin stays flat

The past several days haven’t been good for primary cryptocurrencies. It all started on Wednesday when the asset jumped from $27,500 to $28,400 after the US CPI numbers for April came out.

Although BTC went on the offensive at first, it reversed its trajectory almost immediately and fell to a multi-week low from around $2,000 to $26,600 (on Bitstamp).

The bulls tried to halt further declines in the price and pushed the cryptocurrency back towards $28,000. However, it pulled back to $27,000 after another rejection. As the weekend approached, BTC dropped again below $26,000 for the first time in two months.

Nevertheless, it managed to bounce back and even challenge $27,000 in the last 24-hours, but to no avail so far. So far, the asset inches away from that level, but its market cap has grown to $520 billion. Its dominance over Alts is also flat at 46.3% on the daily scale.

pepe back on the offensive

For the past one month the word in crypto town is on the recently launched memecoin – PEPE. It arguably became the best performer as its market cap grew from $1 million to nearly $2 trillion within this time frame, making many investors rich overnight.

As the hype was at its highest, however, listings took place on several exchanges such as BitMEX and Binance. This news became a selling moment as PEPE lost more than half its value in the following days.

The past 24 hours have been overwhelmingly positive for Memecoin, which is up by 20%. However, on a weekly scale, PEPE is still down over 30%.

In contrast, large-cap alts are very quiet today, with little-to-no movement from the likes of ETH, NB, XRP, ADA, DOGE, SOL, and many others.