BingX Insights

Get the latest blockchain news on BingX.

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

BTCEUR - Jordan Lyanchev 2023-04-02 16:45

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

The post Memecoin Market Watch: Dogecoin Skyrockets 9%, Shiba Inu Up 5% appeared first on CryptoPotato.