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The cryptocurrency market has been bullish so far this week, with major cryptocurrencies like Bitcoin and Ether now trading new key resistance levels. Shiba Inu (SHIB), one of the leading memecoins in the market, is also approaching a key resistance level.
The cryptocurrency market is bearish on Monday after the poor performance recorded on Sunday. Bitcoin is trading below $71,000, while Ether risks dropping below $2,100 if the bearish trend persists.
PEPE, the native token of the Pepe ecosystem, is down 6% in the last 24 hours and is trading below $0. 0000035 at the time of writing on Thursday. The meme coin’s price action remained muted despite Canary Capital filing an S-1 registration with the US Securities and Exchange Commission (SEC) on Wednesday to launch a Canary Pepe Exchange-Traded Fund (ETF).
The cryptocurrency market is currently in the green, and as usual, meme coins are one of the best performers in the market. Dogecoin, the leading memecoin by market cap, is up 4% in the last 24 hours and maintains its position as the 9th-largest crypto on CoinMarketCap.
Dogecoin has underperformed in recent weeks and continues to trade below $0. 091 on Tuesday as it started the week with mild selling, failing to break above key resistance. At the moment, DOGE’s price action remains largely range-bound, and underlying metrics are beginning to tilt bearish.
Memecoins are trading in the green as Bitcoin recaptures the $68,000 level. Dogecoin, the leading memecoin by market cap, is up by 2% in the last 24 hours, underperforming compared to Bitcoin. DOGE is currently trading around the descending trendline, suggesting that the memecoin could rally higher in the near term.