🚀 PENGU Skyrockets 20% as Bitcoin (BTC) Stalls Below $120K Again: Crypto Rollercoaster Continues

Memecoin mania defies gravity while Bitcoin bulls hit another wall.

PENGU—the latest meme token to capture degenerate trader attention—spiked 20% in 24 hours, proving once again that crypto markets reward the absurd. Meanwhile, Bitcoin's latest attempt to crack $120K fizzled faster than a Web3 startup's runway.

The Good, the Bad, and the Sh*tcoins

While BTC struggles with resistance levels (and institutional investors struggle to justify their allocations), altcoins keep printing gains for retail gamblers. PENGU's surge comes as traders rotate into riskier plays—because nothing says 'hedge against inflation' like cartoon bird tokens.

When Lambo?

Crypto's eternal cycle repeats: BTC dominance wavers, alts pump, and everyone pretends this time is different. Just don't check the charts during the next Fed meeting.

BTC Stalls at $120k

After peaking beyond $123,000, the primary cryptocurrency dumped by over seven grand within a day and bottomed at just under $116,000 last week. The bulls halted the freefall at this point and didn’t allow another breakdown to take place.

Just the opposite, BTC started to recover some ground and jumped to $121,000 by the end of the business week. However, it couldn’t breach that level, and despite its few attempts, each rejection resulted in a price slip to around $117,000.

Following a quiet weekend, BTC jumped toward $120,000 twice on Monday and Wednesday morning, but the scenario repeated once again as profit-taking went wild. The latest rejection occurred earlier today, which drove Bitcoin south to under $119,000 as of now.

Consequently, bitcoin’s market cap has stalled at $2.360 trillion, while its dominance over the alts has taken another hit and is down to 59% on CG.

BNB Charts New ATH

The big news from the top 10 alts is BNB’s surge past $800 as the asset painted a new all-time high. This represented a 300% surge from the October 2023 lows when it dropped to $200.

Elsewhere, ETH has neared $3,700 once again after a 2% daily increase, while XRP has defended the $3.45 level following a similar daily jump. SOL is close to $200 again, while XLM has added 5% of value.

Even more impressive gains come from APT, ONDO, and TAO, which have all jumped by more than 7% daily. Nevertheless, the top performers are FLR and PENGU as both have shot up by more than 20% since yesterday.

The cumulative market cap of all crypto assets has increased by over $40 billion in a day and is up to $4 trillion on CG.