Crypto Market Update: Continued Selling Pressure with MEME Gains on February 5, 2025
On February 5, 2025, Bitcoin attempted to surpass $100,000 but settled around $97,500 amidst market selling pressure. Significant volatility affected major altcoins, while memecoins like MELANIA surged over 20%. Total trading volume dropped 27% to $174.5 billion, and the global market cap stands at $3.21 trillion.
On February 5, 2025, the cryptocurrency market remained under selling pressure despite Bitcoin’s efforts to breach the $100,000 threshold. Bitcoin reached a daily peak of $100,677 but is currently trading around $97,500. Major altcoins, including SOL, BNB, SUI, and LINK, are experiencing significant volatility as the market attempts to recover from a dip that occurred previously on Sunday.
While leading cryptocurrencies predominantly faced downward trends, several memecoins displayed notable price increases. Dogwifhat (WIF) and Pudgy Penguins (PENGU) both surged by over 10% within the last 24 hours, evidencing a shift in market sentiment among smaller assets. Particularly impressive was the performance of the MELANIA memecoin, which climbed over 20%, now trading at $1.70 and boasting a market capitalization of $820 million.
Among the trending cryptocurrencies today are MELANIA, XPR (formerly Proton), ALPHA, FORTH (Ampleforth), and AMP. Top performers for the day include AMP with a remarkable increase of 21%, followed closely by MELANIA at 20%, FTX Token (FTT) at 13%, Pudgy Penguins (PENGU) at 11%, and Dogwifhat (WIF) at 10%. Overall, the total cryptocurrency trading volume has decreased by 27% compared to the previous day, amounting to $174.5 billion, with the global market valuation at $3.21 trillion.
The cryptocurrency market is known for its volatility, often characterized by rapid price fluctuations influenced by various factors. On February 5, 2025, the market witnessed continued selling pressure following a significant dip on Sunday. Despite this negative trend for major cryptocurrencies, certain niche tokens like memecoins demonstrated resilience, indicating investor interest in speculative assets even amid market challenges. The performance of MELANIA exemplifies this trend, showcasing how specific coins can capture market attention even during broader downturns.
In conclusion, February 5, 2025, marked a continued period of selling pressure in the cryptocurrency market, particularly affecting major coins like Bitcoin and SOL. However, notable gainers emerged among memecoins, with MELANIA leading the pack with a significant 20% rise. The overall market experienced a decrease in trading volume, highlighting the current cautious sentiment among investors, while the total market is still valued robustly at over $3 trillion.
Original Source: www.cryptotimes.io
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