Top cryptocurrency prices today: Shiba Inu soars 74%, altcoins tank up to 10% – Economic Times
New Delhi: Major cryptocurrencies tanked on Thursday, barring the new top meme token Shiba Inu which is now the seventh largest cryptocurrency on the basis of market cap.
Barring Shiba Inu and dollar-pegged stablecoins, seven out of the top 10 cryptocurrencies were trading lower at 9.30 hours IST. S…….
New Delhi: Major cryptocurrencies tanked on Thursday, barring the new top meme token Shiba Inu which is now the seventh largest cryptocurrency on the basis of market cap.
Barring Shiba Inu and dollar-pegged stablecoins, seven out of the top 10 cryptocurrencies were trading lower at 9.30 hours IST. Solana, XRP, Cardano and Polkadot tanked 8-10 per cent each, whereas Shiba Inu soared 74%.
The global crypto market cap declined 4 per cent, slipping below the $2.50 trillion mark compared to the last day. However, the total crypto market volume soared about 65 per cent to $187.64 billion.
The world’s biggest cryptocurrency has fallen over 10 per cent in the past week. This has triggered other altcoins to follow suit with a similar nosedive, CoinDCX Research Team said. “US regulators continue to explore introducing digital assets into traditional finance. Positive institutional support and developments will only heighten the interest and demand for the crypto industry,” it added.
“The global NFT sales volume has been declining for the last three weeks. We can expect the market to consolidate for the next couple of weeks as most of the NFT collections have found the floor, and they can start the recovery soon,” said Hitesh Malviya, Founder,
itsblockchain.com.
The latest run in Shiba Inu is more mind boggling for crypto enthusiasts as Tesla boss Elon Musk had snubbed the meme token. The mercurial technocrat said that he doesn’t actually own any Shiba Inu tokens.
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