The cryptocurrency market continues its downward trajectory, with prominent tokens like Bitcoin Cash (BCH), Shiba Inu (SHIB), and Pepe (PEPE) showing some of the largest monthly losses among leading altcoins. The total market capitalization decreased by over 1%, slipping to approximately $2.46 trillion, while Bitcoin itself declined by more than 1% to near $72,000. The volatility stems in part from persistent outflows in U.S. spot Bitcoin ETFs, which have dampened investor appetite across both mainstream and meme tokens.
Bitcoin Cash experienced a sharp drop after falling below the crucial $300 support level, slipping nearly 6% in a 24-hour span to around $288. This extended BCH’s monthly losses to roughly 35%, marking it as one of the worst performers in terms of monthly discount across major cryptocurrencies. Notably, trading volume surged by approximately 80%, signaling heightened market activity amid the sell-off. Analysts suggest that if BCH holds above $285, it could enter a brief consolidation phase; however, a sustained break below $285 might push the price toward the next support at $275. A rebound above $300 would provide some relief to traders monitoring its momentum.
Shiba Inu’s price fell slightly over 1% within a day to about $0.00000543, reflecting a broader pullback affecting many meme coins. The token has declined approximately 15% over the past month, indicative of increased risk aversion and general weakness among speculative assets. On the supply side, SHIB’s recent token burn metrics showed nearly 788,000 tokens removed from circulation in the past 24 hours, bringing its total burned supply to over 41%. Should Bitcoin maintain levels around $72,000 or higher, SHIB could stabilize near the $0.0000054 mark, though further weakness might drive it down toward a key support near $0.000005.
Similarly, Pepe token suffered nearly a 2% dip in the last 24 hours, reaching $0.00000336 and marking a 15% fall for the month. The decline places PEPE among the top four cryptocurrencies experiencing the steepest monthly discounts. This drop aligns with a wider sell-off that hit meme coins and other high-risk digital assets. PEPE’s trading volume increased dramatically, suggesting intensified selling pressure. Analysts note the $0.00000328 level as immediate support. Maintaining prices above $0.00000334 could signal a short-term pause in declines, but sustained pressure may push the token lower.
Overall, these tokens illustrate the current risk-off mood permeating the crypto market. Factors such as Bitcoin ETF redemptions continue to influence investor sentiment, particularly impacting altcoins and meme-based assets. For traders and holders, watching critical support levels and trading volumes in BCH, SHIB, and PEPE will be key to understanding potential stabilization or further downside in this turbulent market environment.