BTC, ETH, and PEPE among the top cryptocurrencies to keep an eye on this week
This week, the top cryptocurrencies to keep an eye on include Bitcoin (BTC), Ethereum (ETH), and Pepe (PEPE).
Bitcoin has witnessed a decline in whale activity since March 14. However, there has been a recent surge in whale transactions, which has the potential to boost BTC prices. Crypto analyst Lookonchain drew attention to a substantial movement of 1,200 Bitcoin, valued at $77.67 million, by a whale into the Kraken exchange. This particular whale had accumulated 24,755 BTC worth $1.68 billion between March 1 and April 15, with an average purchase price of $68,051 per Bitcoin. Additionally, data from CryptoQuant reveals that exchange inflows from Bitcoin whales have reached their highest level in five months, suggesting a trend of profit-taking among major holders. Analysts believe this could lead to a significant price correction in the upcoming week. Large-scale transactions have a significant impact on the crypto market, and Bitcoin whales, in particular, hold substantial influence due to the coin’s dominant position in the broader crypto market.
Bitcoin’s price recovery attempts have slowed down, with the asset gaining only 1% in the last 24 hours to trade at $63,520 after several days of decline.
Ethereum, on the other hand, has maintained a positive outlook despite facing downward pressure along with other altcoins. Although it has corrected by 32% from its yearly high of $4,094, Ethereum’s price action remains positive, with a year-to-date increase of over 75%. Unlike other high-cap cryptocurrencies, Ethereum managed to stay in the green over the weekend. The coin has continued its upward trend and is currently 5.5% higher than its price 24 hours ago. Analysts, including Satoshi Flipper, suggest that Ethereum’s underlying indicators hint at an incoming bull run.
Pepe, the third-largest meme coin by market cap, is also worth keeping an eye on in the coming week. Since its launch in 2023, Pepe has exhibited relatively strong performance and is currently priced at $0.000007459. It has experienced a 7.1% uptick in the last 24 hours and a nearly 28% increase in the past week, making it one of the top gainers. However, its current price reflects a 4.8% decrease compared to the previous month. With a market cap of $3.1 billion and a 24-hour trading volume of $648 million, Pepe’s market strength positions it among the top cryptocurrencies to watch. Despite facing retracements, Pepe has shown resilience and may continue its upward trend in the coming weeks, supported by strong trading volume and market interest.
In conclusion, Bitcoin, Ethereum, and Pepe are the key cryptocurrencies to monitor this week as they navigate through market fluctuations and potential price movements driven by whale activity and market sentiment.
