Meme Coin Craze Continues, Bitcoin Price Fixes, And Much More: Bits Recap Jun 10

TL; DR

Bitcoin traded between $68,500 and $72,000, settling at $69,500. Despite the current uncertainty, analysts are predicting an increase of around $90,000. Meme coin Brett (BRETT) hit an all-time high of $0.20 and reached a market cap of $1.7 billion. It is currently the 65th-largest cryptocurrency. Shiba Inu (SHIB) is down 7% on the week to $0.00002307, but analysts are predicting a big price increase by the end of the year.

BTC price fluctuations

The major cryptocurrency went through enhanced turbulence last week, with its price ranging from $68,500 to $72,000. It reached the high mark on June 5 but experienced a correction after a few days which finally stopped the review The current level $69,500 (per CoinGecko data).

One person who touched on BTC's pullback is X user Willy Woo. The analyst, who has more than 1 million followers on the social media platform, argued that “Bitcoin won't do well until the last minute digital lags give up chasing the price. There is a lot of upside in the system.” Other X users share that they are thesis. Toby Cunningham, GelAnd so on.

Despite the shaky price performance, many industry participants believe a new upside could be on the horizon. Ali Martinez It was noticed Certain To predict that, measures such as storage levels and value days destroyed (CVDD). of The next potential local high For BTC It could be a new all-time high of nearly $90,000.

CVD is a term that identifies all types of unused transaction results associated with the Bitcoin ecosystem. Historically, an asset price touching or crossing below the CVDD line often indicates a market bottom. This It indicates that the selling pressure of long-time owners has dissipated, and new investors see the current price as a buying opportunity.

The CVD line has been trying to catch up with the price of BTC for the past few months. Registering An increase in early June.

BRETT's success and the meme coin craze

Although the overall market has seen a decline over the past few days, some digital assets continue to make headlines due to dramatic price increases. An example is the frog-themed meme coin – BRETT.

He hit ATH of around $0.20 on June 9th before returning slightly to its current level of around $0.17 (per CoinGecko data).

Its market capitalization briefly jumped above $1.9 billion, eventually settling at around $1.7 billion. currently, BRETT is the 65th largest cryptocurrency and the seventh-largest in the portfolio: a hard hit b A sign that saw the light of day in less than four months.

Apart from that, Andrew Tate – one of the internet's most famous people, also released his own meme coin, which caused quite a stir over the weekend.

How is SHIB doing?

If we talk about meme coins, it is worth mentioning Shiba Inu (SHIB) among the most popular ones. Its price has decreased by 7% every week and is currently trading at $0.00002307.

Despite the negative trends, many analysts think that the token is facing better days ahead. X User Mags He predicted With an all-time high above $0.00014 in September this year, investors should join the ecosystem as soon as possible before the price starts to “only go up”.

Cryptocurrency has been bullish, showing a level heading towards $0.000075 by the end of the year. In their opinion, Pepe (PEPE) and Dogecoin (DOGE) will also rise in the coming months.