Recent market trends indicate a period of stability for several cryptocurrencies, including AVAX, SHIB, and PEPE.
Current Market Situation
Amid Bitcoin's stability and minor changes in altcoins, the market appears to be holding steady. This calmness is likely to persist through the weekend, pending any new announcements from China that could impact market sentiment.
Prospects for AVAX
The Avalanche network continues to struggle, with its total value locked (TVL) significantly below previous highs. While Solana is showing an increase in locked value, Avalanche’s holdings linger around $1.2 billion, highlighting its ongoing challenges.
Can SHIB and PEPE Recover?
Both SHIB and PEPE are feeling the effects of a downturn in the meme coin market. 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.
The current landscape for cryptocurrencies AVAX, SHIB, and PEPE suggests a cautious approach. While facing challenges, supportive market developments may enhance their prospects.
