Bitcoin price drops while Shiba Inu hits highest level ever
Bitcoin has had two flash falls in the previous 24 hours and is now trading below $60,000, after reaching close to $64,000 earlier this week.
Ethereum, Solana, and Cardano all dropped between 5 and 15% overnight, bucking a market-wide trend highlighted by the meme currencies Shiba Inu and Baby Floki Billionaire.
According to CoinMarketCap’s price index, the dogecoin spin-offs are up 42 percent and 69 percent on Wednesday morning, with the former boosted by requests for it to be listed on the popular trading app Robinhood.
The advances were insufficient to save the whole cryptocurrency market from falling below $2.5 trillion.
Despite the fact that BTC has dropped in value over the previous 24 hours, some analysts are still forecasting new all-time highs before the end of 2021.
Shiba Inu currency defies the crypto bear market with a record-breaking price rise
Despite today’s crypto market fall, the price of Shiba Inu has just reached a new all-time high.
The meme coin’s market worth has risen to $25 billion, making it the world’s 11th most valuable cryptocurrency, just $6 billion behind dogecoin.
Today’s gains add to a price run that has seen the stock soar more than 700% since the beginning of October, and 700,000% since January.