Friday , March 1 2024
Home / Altcoins / Memecoin Market Watch: Dogecoin Skyrockets 9%, Shiba Inu Up 5%

Memecoin Market Watch: Dogecoin Skyrockets 9%, Shiba Inu Up 5%

Summary:
With the declining trading volumes during the weekend, bitcoin has stalled but remained north of ,000. Most larger-cap altcoins are in a similar position, aside from Dogecoin and Shiba Inu. HBAR is also well in the green. BTC Settles Above K The massive volatility that bitcoin faced last week saw the asset dumping from over ,000 to ,500 in hours on Monday when the US CFTC went after Binance. However, that was just the start of the rollercoaster week that drove BTC to over ,000 just a few days later. Nevertheless, the bears intercepted this move as well and pushed the cryptocurrency south, resulting in a price slip beneath ,600 by Friday. As Saturday approached, bitcoin recovered some ground and stood above ,000. The past 24 hours have been

Topics:
Jordan Lyanchev considers the following as important: , , , , , ,

This could be interesting, too:

Chayanika Deka writes 3 Catalysts That Suggest More Gains for Bitcoin After Price Broke K

Chayanika Deka writes Tornado Cash Vulnerability: Developers Flag Deposits’ Risk Since January 1st

Wayne Jones writes Ethereum’s Layer 2 TVL Nears Billion as ETH-Related Tokens Surge

Chayanika Deka writes Peter Brandt Predicts 0,000 Bitcoin (BTC) Peak by 2025 After Channel Breakout

With the declining trading volumes during the weekend, bitcoin has stalled but remained north of $28,000.

Most larger-cap altcoins are in a similar position, aside from Dogecoin and Shiba Inu. HBAR is also well in the green.

BTC Settles Above $28K

The massive volatility that bitcoin faced last week saw the asset dumping from over $28,000 to $26,500 in hours on Monday when the US CFTC went after Binance. However, that was just the start of the rollercoaster week that drove BTC to over $29,000 just a few days later.

Nevertheless, the bears intercepted this move as well and pushed the cryptocurrency south, resulting in a price slip beneath $27,600 by Friday. As Saturday approached, bitcoin recovered some ground and stood above $28,000.

The past 24 hours have been predominantly calm, with BTC sitting in a tight range between $28,400 and $28,600. Naturally, this means that its market capitalization has remained relatively still at just under $550 billion. Its dominance over the altcoins is also essentially at the same spot as yesterday – 46.3%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

DOGE, SHIB Post Notable Gains

Most alternative coins have also calmed on a daily scale now. This includes ETH standing above $1,800, BNB settling at $315, while LTC, MATIC, SOL, and TRX have posted insignificant gains.

Cardano has dropped by just over 1%, while XRP has jumped by under 3%. Dogecoin and Shiba Inu are the two best performers from the larger-cap alts. The original memecoin has soared by almost 9% and sits above $0.08, while SHIB is up by just over 4% and trades at $0.000011.

HBAR’s daily gains mimic those of Dogecoin, and the asset trades close to $0.08.

Nevertheless, the cumulative market capitalization of all crypto assets has remained stuck at $1.185 trillion as most alts sit quietly today.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Leave a Reply

Your email address will not be published. Required fields are marked *