The crypto market continues to experience selling pressure, while some assets show significant volatility. Notably, the memecoin MELANIA drew attention with its recent growth.
Today's Market Status
On February 5th, selling pressure persisted in the crypto market, with Bitcoin striving to surpass the $100,000 mark. Bitcoin's price hit a daily high of $100,677 and is currently trading near $97,500.
Altcoin Volatility
As the market recovers from Sunday's dip, major altcoins, including SOL, BNB, SUI, LINK, and others, are experiencing substantial volatility. According to Coinmarketcap, SOL's price rose to $218 earlier and dropped below $205.
Memecoin Growth
While most leading crypto assets were on a downtrend, some memecoins saw a significant price surge. Both Dogwifhat (WIF) and Pudgy Penguins’ PENGU surged over 10% in the past 24 hours. The highlight was the MELANIA memecoin, which surged over 20%, now trading at $1.7 with a market cap of $820 million.
The crypto market remains under pressure; however, certain segments, like memecoins, are showing upward trends. Investors and analysts will continue to closely monitor market dynamics in the near future.
