Bitcoin had a quiet weekend in which its price stood primarily around the $62,000 level, but the bulls went on the offensive once again as Monday came and pushed the asset to a new multi-year peak of over $65,000.
Dogecoin and Shiba Inu have soared as well, but their meme coin rival Pepe has outperformed the rest of the larger-cap alts with a massive daily surge.
Last Monday began on a similar note as this one when Bitcoin skyrocketed from around $51,000 to $55,000 and even further during the late US trading hours. Tuesday saw even more gains, as did Wednesday. BTC’s rally culminated in a price surge to $64,000, which became its highest price tag since late 2021.
Despite a brief retracement during the week, Bitcoin still closed February with the biggest monthly gain in its history. The next few days, though, including the weekend, were a lot less volatile, and BTC remained stuck at around $62,000.
However, the bulls went back at it again once Monday arrived. In a matter of hours earlier today, they pushed the cryptocurrency to a new multi-year high of over $65,000. Thus, BTC came just $4,000 away from its 2021 ATH of $69,000.
As of now, the asset stands inches above that line again, with its market cap nearing $1.3 trillion. Its dominance over the alts has increased by 0.5% in a day and is now above 50% on CoinGecko.
The past several days have been dominated by meme coins, and this continues to be the case now as well. Pepe has stolen the show once more, with another 65% surge. In fact, the meme coin has entered the top 50 largest cryptocurrencies and tapped a new all-time high earlier today.
BONK follows suit with a 50% increase that has pushed its price to $0.000035. The two largest reps of this cohort of digital assets – Dogecoin and Shiba Inu – have gained 25% and 30%, respectively. As a result, SHIB has come closer to possibly overcoming DOGE as the largest meme coin.
Cardano and Polkadot have also charted impressive gains of around 8-10% overnight. The rest of the larger-cap alts are also in the green but in a more modest fashion.
The total crypto market cap has added over $100 billion overnight to $2.550 trillion on CMC.
