TL;DR<\/strong><\/p>\n After trading sideways in the past several days, the price of the primary cryptocurrency\u00a0<\/span>has<\/span>\u00a0once again headed north on May 15. It soared from $61,500 to over $66,500 in a matter of hours<\/span>,\u00a0<\/span>currently standing at approximately $66,000 (per CoinGecko\u2019s data).<\/span><\/p>\n The uptick occurred\u00a0<\/span>shortly<\/span>\u00a0after the latest Consumer Price Index (CPI) data was released by the US Bureau of Labor Statistics.<\/span>\u00a0<\/span>It\u00a0<\/span>showed<\/span>\u00a0that the inflation rate in the world\u2019s largest economy\u00a0<\/span>clocked in at<\/span>\u00a03.4%, meeting previous expectations.<\/span><\/p>\n The Federal Reserve\u2019s goal is to decrease\u00a0<\/span>the<\/span>\u00a0annual inflation to 2%. As such, it implemented multiple measures in the past few years, including rate hikes. America\u2019s central bank hinted at a pivot sometime this year\u00a0<\/span>which is seen by<\/span>\u00a0many industry participants as a bullish factor for Bitcoin and the entire industry.<\/span><\/p>\n After all, lowering interest rates makes money borrowing easier, possibly sparking more interest in riskier assets such as cryptocurrencies.<\/span><\/p>\n The popular meme coin has also experienced a substantial uptick, with its price soaring by 9%\u00a0<\/span>on a 24-hour scale<\/span>.<\/span>\u00a0<\/span><\/p>\n Several analysts, such as the X users Ali Martinez and Dami-Defi,\u00a0<\/span>believe<\/span>\u00a0SHIB is yet to witness a bull run. The former envisioned a 20% surge should it break \u201cthe upper boundary of this descending parallel channel at $0.00002444.\u201d<\/span><\/p>\n Dami-Defi was even more bullish, predicting a 50% increase based on \u201ca falling wedge pattern on the 1D time frame.\u201d They also suggested that the entire meme coin sector will continue to flourish in the following months.<\/span><\/p>\n The frog-themed meme coin has outperformed many <\/span>of the<\/span>\u00a0leading cryptocurrencies in the last few days, registering a double-digit price spike. As\u00a0<\/span>CryptoPotato<\/span>\u00a0<\/span>reported<\/span>, it hit a new all-time high on May 15, whereas its market capitalization neared a whopping $5 billion.<\/span><\/p>\n PEPE\u2019s price slightly retraced in the past several hours, but it remains the third-biggest asset in the meme coin cohort.\u00a0<\/span>The\u00a0<\/span>forth-largest<\/span>\u00a0\u2013\u00a0<\/span>dogwifhat<\/span>\u00a0(WIF) \u2013 trails behind with a market cap of approximately $3 billion.<\/span><\/p>\n Somewhat expectedly, PEPE\u2019s latest revival has benefited investors. According to\u00a0<\/span>IntoTheBlock<\/span>, 100% of the coin\u2019s holders stood at paper profits on May 14.\u00a0<\/span><\/p>\n\n
<\/span><\/h2>\n
BTC Resurgence<\/h2>\n
SHIB Forecasts<\/span><\/h2>\n
PEPE\u2019s Success<\/span><\/h2>\n