TL;DR
- Bitcoin price surged from $61,500 to over $66,500, likely triggered by the release of US CPI data.
- Shiba Inu prices have increased by 9%, and analysts predict a further increase of up to 50% based on technical patterns.
- PEPE hit a new all-time high on May 15th, becoming the third-largest meme coin by market capitalization, and all holders realized paper profits at one point.
BTC revival
After sideways trading for the past few days, prices of major cryptocurrencies are have On May 15th, it headed north again, soaring from $61,500 to more than $66,500 in a matter of hours., The current price is around $66,000 (according to CoinGecko data).
There was a price increase soon After the latest Consumer Price Index (CPI) data was released by the U.S. Bureau of Labor Statistics. that Indicated The inflation rate in the world's largest economy is I went to work at It was 3.4%, meeting the prior forecast.
The Federal Reserve's goal is to reduce of The annual inflation rate will be 2%. Therefore, it has implemented several policies over the past few years, including raising interest rates.US central bank hints at changeover this year seen by Many industry participants believe this is a bullish factor for Bitcoin and the industry as a whole.
After all, lower interest rates could make it easier to borrow money and increase interest in riskier assets such as cryptocurrencies.
SHIB predictions
The popular meme coin also experienced a significant increase, with its price soaring 9%. on a 24 hour scale.
Several analysts, including X users Ali Martinez and Dami Defi, said: believe SHIB is yet to witness a bullish move. The former envisaged a 20% surge if it broke “the upper bound of this descending parallel channel at $0.00002444.”
Dami Defi was even more bullish, predicting a 50% increase based on a “descending wedge pattern on the 1D time frame.” They also suggested that the memecoin sector as a whole will continue to thrive in the coming months.
PEPE success
Frog-themed meme coin outperforms many coins of Major cryptocurrencies have rallied over the past few days, posting double-digit price spikes.as crypto potato reportwhich hit a new all-time high on May 15, with a market cap approaching $5 billion.
PEPE’s price has rebounded slightly in the past few hours, but it remains the third largest asset among the meme coin cohort. of 4th largest – dog hat (WIF) – Market cap lags at around $3 billion.
Somewhat predictably, PEPE's recent resurgence has been a boon for investors.according to into the blockOn May 14th, 100% of coin owners achieved paper profits.
