Dec 18, 11:02 AM

Bitcoin Hits $108K ATH; PENGU Launches as 6th Largest Memecoin with $2.5B Market Cap and $2.8B Volume

Bitcoin reached an all-time high (ATH) of $108,000 on December 17, 2024, following significant purchases by MicroStrategy and a strong performance in the broader cryptocurrency market. Other major cryptocurrencies also showed gains, with Ethereum priced at approximately $3,870 and Solana at $217. The newly launched PENGU coin debuted as the sixth largest memecoin, achieving a market capitalization of $2.5 billion and a trading volume of $2.8 billion. However, PENGU's price fluctuated, initially launching between $4 and $5 billion in fully diluted valuation (FDV) before settling at $2.9 billion. The overall market is experiencing volatility, with predictions of a potential correction of 2-3% following the upcoming Federal Open Market Committee (FOMC) meeting and comments from Federal Reserve Chair Jerome Powell. Additionally, Ripple's RLUSD stablecoin launch contributed to a 7% surge in its price, reflecting ongoing developments in the crypto sector.