On May 25, Bitcoin (BTC) achieved a new record high of $68,900, setting a notable milestone. This surge occurred with minimal market volatility, rekindling interest in the cryptocurrency market. Many investors are now closely monitoring Bitcoin's potential next moves. The stability in Bitcoin's price has fueled optimism for future upward trends.
While Bitcoin saw a significant rise, altcoins experienced only minor fluctuations. Dogecoin (DOGE), the top meme coin by market cap, had an eventful day. The owner of Kabosu, the iconic dog behind the Dogecoin mascot, announced the dog's passing. Following this news, Elon Musk made a post which caused DOGE to briefly rise above $0.17, though it was unable to sustain a larger uptrend and fell back to around $0.166. If DOGE continues its upward trajectory, it could reach $0.18, $0.197, and possibly $0.21. Surpassing the $0.23 level could trigger a significant rally.
Shiba Inu (SHIB) has been trading sideways for an extended period with limited upward movement. Unlike Bitcoin, SHIB has not seen the expected rise. To break out of its current stagnation, SHIB needs to surpass the $0.0000269 resistance level. The lack of new developments from Shibarium or other projects is also affecting SHIB's appeal negatively.
Among meme coins, PEPE Coin has been drawing attention, steadily rising without offering substantial profit opportunities. However, the number of investors making profits is increasing, with the price recently hitting $0.0000158. If PEPE loses the $0.0000125 level, it could face significant downside risk, potentially dropping to $0.0000089.
