Bitcoin’s Rollercoaster Above $60K, Dogecoin and Shiba Inu Skyrocket by 30% (Market Watch)
Many meme coins have charted massive gains in the past 24 hours.
It seems like a repeat these days, but Bitcoin’s bull run continues as the asset soared to a new 26-month peak of $64,000 before it faced a real rollercoaster.
Many altcoins have turned green as well, with SOL shooting up by 18%, and the total crypto market cap has neared $2.5 trillion for the first time in over two years.
BTC’s Run Endures
What more can we say about the ongoing price surge for Bitcoin? The asset had stalled at around $51,000 during the weekend after a few unsuccessful attempts to overcome $52,000.
However, Monday began with a bang, and the cryptocurrency spiked by more than two grand in minutes. Another leg-up followed, and then one more that pushed BTC to $57,000 by the end of the day and on Tuesday.
It didn’t take long before the bulls pressed the gas pedal once again and propelled another surge that drove BTC to $60,000. While that line was a bit harder to reclaim, Bitcoin did so yesterday and soared all the way to $64,000 for the first time since late 2021.
A violent rejection followed that brought it down to $59,000 in minutes before the bulls stepped up once again and recovered most losses. As of now, the cryptocurrency stands above $62,000, and its market capitalization has increased to $1.240 trillion, placing it among the top ten largest financial assets .
Its dominance over the altcoins has also been on the rise lately, gaining nearly 3% in less than a week.
Meme Coins Explode
The alternative coins have also followed BTC on the way up, with some more than others. Solana, Avalanche, and Toncoin have emerged as the top non-meme coin gainers from the larger-cap alts. SOL has reclaimed the $130 level after an 18% surge, while AVAX is well above $43 following a 10% increase. TON sits at $2.6 after gaining 21% on the day.
However, today belongs to the meme coins, with the two-largest skyrocketing by around 28-30%. DOGE has soared past $0.12, while SHIB is up to $0.000014.
You can check other meme coins that charted impressive gains and even ATHs here .
The total crypto market cap has gained another 8% overnight and now sits close to $2.5 trillion for the first time in over two years.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Just bet on AI and already faced a market blow! Berkshire reports earnings tonight, Abel faces a major test in his transformation
Greg Abel has been leading Berkshire Hathaway for less than a year, yet he has already made a bet of over $10.9 billion on the AI sector, marking a complete break from Buffett’s traditional avoidance of tech stocks. However, Alphabet’s stock price has fallen below their initial purchase cost, and Bending Spoons continues to decline, putting this bold AI gamble to the test. At the same time, third-quarter earnings per share are expected to drop 6% year-over-year, and the share repurchase program is likely to plummet from $4.5 billion to $1.6 billion. How to deploy $358 billion in cash will be a major challenge for the new leader’s capital allocation skills.
Has the AI bubble burst? Goldman Sachs: It's more like 1998 than 2000 right now
The Goldman Sachs trading desk stated that the current wave of sell-offs resembles the 1998 liquidity crisis more than the bursting of the 2000 bubble. It is a forced deleveraging rather than a refutation of business fundamentals. The market is drastically repricing construction financing and timeline expectations, rather than underlying demand. Moreover, the issues currently drawing the most attention from the market—electricity and licensing—are actually the least important, as limited supply does not equate to disappearing demand. The real question that needs to be answered is whether long-term revenues can ultimately justify the capital invested.
Pundit: XRP and XLM Holders, Do You Know How Big This Is?
Tesla Cybertruck: From Cracked Windows to Production Halt, a Three-and-a-Half Year Journey Ends
Since its launch in 2019, Cybertruck has been mired in controversy—ranging from a failed window demonstration on release day, a four-year delay in mass production, and its price rising from $39,900 to more than $100,000, along with a total of 11 recalls. The day before the halt of production was announced, Tesla raised the price once again, bringing a dramatic and intriguing end to the saga of this vehicle.
Crypto prices
More
