Cryptocurrency Prices Today: Dogecoin Up 25% While Shiba Inu Falls 24%; bitcoin, ethereum boom
Cryptocurrency prices today: According to CoinGecko, cryptocurrencies like bitcoin, ethereum or ether rose on Friday morning after falling in the red, while the meme-inspired crypto coin Shiba Inu fell nearly 24 percent over the past 24 hours. The world’s largest cryptocurrency by market capitalization was trading more than 5%.
Bitcoin price climbed above $61,000 on Friday after falling to its lowest level in over a week. BTC is also known as ‘digital gold’ and is the largest cryptocurrency in the world. Ether, the coin and the second largest crypto tied to the Ethereum blockchain, climbed almost 11% to a record high of $4,391.
Barring the Shiba Inu and dollar-based Tether, eight of the top 10 cryptocurrencies were trading at 9.30am Indian time. Dogecoin gained over 25% to $0.30 while Shiba Inu lost a quarter of its valuation.
According to Money Control, the global cryptocurrency market cap stands at $2.63 trillion, an increase of 6.38 percent over the previous day, while the total crypto market volume in the last 24 hours stood at $176.89 billion, a decrease of 4.44 percent.
The price of the Shiba Inu rose by more than 140 percent last week. Since its listing on Coinbase on January 30, 2021, the Shiba Inu has risen by 7,99,900 percent in just nine months.
India’s largest cryptocurrency exchange WazirX recorded its highest daily trading volume of $562 million. The company said that the volume of the meme coin Shiba Inu alone was approximately $338 million of the total.
The Shiba Inu (SHIB) is a coin that aims to be an Ethereum-based replacement for Dogecoin. The current valuation of the Shiba Inu at $41 billion is higher than the market cap of ITC, Larsen & Toubro, Maruti Suzuki, Nestle India and Adani Green Energy.
Other cryptocurrencies such as Cardano rose more than 5% to $2.03. Solana, XRP, Litecoin, Uniswap also fell in the 7-10% range over the past 24 hours.
Read also: Shiba Inu to Dogecoin: 7 Best Cryptocurrencies for Long Term Investing
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