Recent market trends indicate a period of stability for several cryptocurrencies, including AVAX, SHIB, and PEPE Coin. As Bitcoin remains relatively flat and altcoins display subdued movements, the market appears to be holding steady. This calmness is likely to persist through the weekend, pending any new announcements from China that could provoke changes in sentiment.
What’s Next for AVAX?
The Avalanche network continues to struggle, with its total value locked (TVL) falling significantly short of previous highs. Unlike Solana, which is experiencing a surge in locked value, Avalanche’s holdings linger around $1.2 billion—a sharp contrast that highlights its ongoing struggles.
Can SHIB and PEPE Recover?
Both SHIB and PEPE are feeling the effects of a downturn in the meme coin market, leading to noteworthy declines. SHIB has been on a downward trajectory for over 130 days, suggesting it may be nearing a bottom. A broader altcoin recovery could offer hope for a resurgence in prices.
Key observations include:
- AVAX remains below the $22 resistance level with potential for movement towards $17.5 if negative sentiment prevails.
- SHIB might attempt to reclaim $0.0000126, with a significant rally expected only past the $0.00002 mark.
- PEPE’s stagnation indicates waning interest, but a correlation with Ethereum’s recovery may spark upward movement towards $0.0000131.
The current landscape for these cryptocurrencies suggests a cautious approach. While AVAX, SHIB, and PEPE face challenges, supportive market developments could enhance their prospects. Investors should watch for market responses to global economic dynamics and internal cryptocurrency trends for potential opportunities.
