Bitcoin surged past $94,000 today, hitting a new all-time high and keeping the crypto market’s momentum alive.
But while all eyes are on BTC, some analysts are pointing to Pepe Unchained – a meme coin project that’s raised over $40 million in presale.
Could this rising star steal some of Bitcoin’s thunder?
Bitcoin’s Unstoppable Momentum Pushes It Past $94K
Bitcoin’s rally to $94,200 has solidified its dominance in this market cycle, with the momentum showing no signs of slowing down.
Spot trading volumes have climbed another 5% in the past day to $75.9 billion, while BTC’s market cap has reached an enormous $1.8 trillion.
That’s almost five times the size of Ethereum.
Open interest has also hit a record $30 billion, showing there’s growing confidence from traders that BTC will keep rising.
Interestingly, market watchers have noticed something unusual.
According to analyst Crypto Rover, Bitcoin balances on exchanges are actually dropping during this bull run – a first in the coin’s history.
He called it a “massive supply shock,” hinting that Bitcoin’s reduced availability could push its price even higher.
Ultimately, Bitcoin seems unstoppable right now.
And with the Crypto Fear & Greed Index continuing to tick higher, the fabled $100,000 mark appears within reach.
How BlackRock’s ETF Options & Michael Saylor’s Strategy Are Driving Bitcoin’s Rally
Bitcoin is getting a big push from the excitement around BlackRock’s spot BTC ETF options, which saw $1.9 billion in trades on their first day.
Bloomberg analyst Eric Balchunas called the number “unheard of.”
Many believe this surge in options trading has played a big role in Bitcoin’s latest spike.
With most traders betting on the price going even higher, the rush to buy ETF shares is spilling over into the spot market, adding even more power to the rally.
At the same time, Michael Saylor is keeping Bitcoin in the spotlight with his latest move.
$1.9b is unheard of for Day One. For context, $BITO did $363m and that’s been around for four years. And also this is with 25,000 contract position limits. That said, $1.9b isn’t quite big dog level yet tho, eg $GLD did $5b today, but give it a few more days/weeks. https://t.co/nAr2rracjb
— Eric Balchunas (@EricBalchunas) November 19, 2024
The MicroStrategy chairman is set to pitch Microsoft’s board on adding Bitcoin to its balance sheet, claiming it could make the company’s stock more stable – and less risky.
Microsoft’s board isn’t sold on the idea yet.
However, the fact that a proposal like this is even being considered shows how Bitcoin is becoming harder for big players to ignore.
These shifts are all playing into the excitement around BTC right now – pushing the coin’s price to new highs.
Presale Coin Pepe Unchained Raises Over $40M as Analyst Predicts Upcoming Breakout
Bitcoin isn’t the only crypto that’s getting media attention.
Another name that keeps popping up is Pepe Unchained, a meme coin project that’s gone viral with its presale success and bold ambitions.
With Bitcoin’s rally setting the stage, many believe this rising star could be about to break out.
Pepe Unchained has now raised $40.8 million in its presale, with demand surging in the past week.
INCREDIBLE!$PEPU just crossed a massive milestone! 40M!!
It was only 2 days ago we celebrated 35M and there’s no sign of slowing down!
Don’t miss out on your chance to get in by grabbing your chunk of the presale here: https://t.co/onpYoXlnyG pic.twitter.com/E2kr5sKxYf
— Pepe Unchained (@pepe_unchained) November 20, 2024
However, there are now just 23 days left before the presale wraps up.
PEPU tokens are still available for $0.001295 each – but not for long.
Once the presale ends, the token will be listed on an exchange, marking the first time its price will be decided by supply and demand factors.
Most of the excitement around Pepe Unchained is because of its Layer-2 solution, the “Pepe Chain.”
Plus, features like the “Pump Pad” and high-yield staking app are also grabbing attention.
Crypto analyst ClayBro is one of those who thinks PEPU will explode.
He uploaded a video yesterday saying it could be the “best meme coin to buy now.”
So, with excitement building, early investors are hopeful that PEPU will follow in Bitcoin’s footsteps and post gains of its own.
It’s set to be an exciting few weeks ahead for Pepe Unchained and its investors.
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