Bitcoin’s Price Stagnant, Altcoins Following Suit
Bitcoin’s price performance has been underwhelming, remaining at just over $29,000. Most altcoins, including ETH, BNB, and XRP, are also stagnant with little movement. However, Shiba Inu (SHIB) has been a standout performer, gaining double digits in the past week and soaring by another 8% in the past 24 hours to trade close to $0.000011. Similar positive movement has been seen in ApeCoin and Pepe, with both jumping by 7-8%. Larger-cap alts like ETH, DOGE, and TRX are slightly in the green, while BNB, XRP, ADA, and MATIC have posted insignificant losses. The cumulative market cap of all crypto assets remains at just over $1.170 trillion.
Key Points:
- Bitcoin’s price remains stagnant at just over $29,000.
- Most altcoins, including ETH, BNB, and XRP, show little-to-no movement.
- Shiba Inu (SHIB) has been a top performer, gaining double digits in the past week and another 8% in the past 24 hours.
- ApeCoin and Pepe have also seen positive movement, jumping by 7-8%.
- Larger-cap altcoins like ETH, DOGE, and TRX are slightly in the green, while BNB, XRP, ADA, and MATIC have posted insignificant losses.
Hot Take:
Bitcoin’s stagnant price and the lack of movement in most altcoins indicate a period of consolidation in the market. However, the standout performances of Shiba Inu, ApeCoin, and Pepe show that there are still opportunities for gains in the crypto space. It will be interesting to see if these smaller-cap coins can maintain their upward momentum and potentially attract more attention from investors.
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