Following the announcement of the FED interest rate decision, a significant shift took place in the cryptocurrency market. Bitcoin saw a drop in price from $69,900 to $68,000, leading to a noticeable decline in altcoins. Despite this downward trend, some market participants stood their ground against BTC. Two meme coins and a recently popular altcoin are bucking the market trend.
PEPE Coin, which has been grabbing attention over the past two weeks, faced a more than 10% decrease in the last 7 days due to intense selling pressure after reaching its all-time high. However, after today’s decision, the price movement in PEPE brought satisfaction to its investors. The price of PEPE has risen by over 1% in the last 24 hours, reaching $0.00001311. This uptick suggests that whales are taking a break from selling in the cryptocurrency that has been on a downward trend recently.
PEPE’s market cap has now climbed to $5.5 billion, with a 5.80% increase in its 24-hour trading volume to $1.4 billion, making it the 9th most traded cryptocurrency.
Not Coin, which made a significant impact last month, continues to trade well above its launch price of $0.000779. Currently priced at $0.01813, Not Coin has seen a 13.82% increase in the last 24 hours. Its market cap stands at $1.8 billion, with a 45% increase in its 24-hour trading volume to $1.2 billion.
Shiba Coin, positioned as the second-largest meme coin after DOGE in the crypto world, has shown a movement contrary to the market. SHIB seems to have bounced back from the decline at the start of the week. With a 2.68% increase in the last 24 hours, it is now trading at $0.00002221. Although SHIB is still 75% away from its all-time high, investors have welcomed this positive development. In terms of TRY, SHIB is trading at 0.00072110 TL.
SHIB’s market cap remains above $13 billion, with a 4% increase in its 24-hour trading volume to $850 million.
Please note that the information provided in this article is not investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and should conduct their own research.
