PEPE shoots up 12% daily, bitcoin volatile at $27K (weekend watch)

After sitting below $27,000 for a few days, bitcoin jumped above that level in the past 24 hours, but has yet to decisively reclaim it.

Trending Memecoin – Apart from PEPE, most altcoins are up with negligible gains on the daily scale.

Bitcoin uncertain at $27K

Last week started on a positive note for bitcoin, which climbed above $27,600 after a stable weekend. However, this was short-lived, and the asset fell below $27,000 within days. Another price pump took it back to $27,500, again stopping in its tracks.

This time, the rejection was even more forceful and pushed the cryptocurrency south to a weekly low of $26,400 (on Bitstamp). The bulls tried to stop the move and helped BTC gain some ground.

Thus, bitcoin returned to the familiar ground around $27,000 and remained there for a few days. It finally jumped higher a few hours ago, but stalled once again at $27,300. Despite losing some value since then, BTC is still above $27,000.

Its market cap has grown slightly to $525 billion, while its dominance over altcoins sits close to 46.5%.

PEPE re-emerging

All eyes in the crypto community have been focused on PEPE for the past month, as Memecoin went from an unknown coin launched in mid-April to a huge trend a few weeks later with a market cap of nearly $2 billion.

After making many savvy investors millionaires overnight, it was listed on several major exchanges including Binance, becoming a sell-out news moment. PEPE lost some of its momentum, and its market cap fell by more than a billion in days.

The past 24 hours have been overwhelmingly positive for Memecoin, as it has added over 12% in value and is back in the top 70 largest cryptocurrencies.

Large-cap alts are also in the green on the daily scale, albeit in a more modest fashion. ETH, BNB, XRP, ADA, MATIC, SOL, LTC, DOT, and TRX have all jumped up to 2% in a single day.

The total crypto market cap has increased by about $10 billion per day and stands at $1.130 trillion.