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SHIB, PEPE Post Major Daily Gains, BTC Price Recovers From Sub-$63K Dip (Market Watch)

SHIB, PEPE Post Major Daily Gains, BTC Price Recovers From Sub-$63K Dip (Market Watch) WikiBit 2024-09-26 18:04

Bitcoins price took a turn for the worse earlier today by dropping below $62,800 but has managed to

Bitcoins price took a turn for the worse earlier today by dropping below $62,800 but has managed to recover all losses and sits close to $64,000 now.

Some altcoins, such as DOGE, TON, and ADA, have posted impressive gains over the past day, but SHIB and PEPE stand in a league of their own.

BTC Recovers From Dip Below $63K

The primary cryptocurrency skyrocketed at the end of last week after the US Fed reduced the key interest rates for the first time in over four years, from under $58,000 to over $60,000, and hasnt looked back since.

The bulls took it to $64,000 on Friday morning and even further this week. As reported before, the asset jumped to $64,800 on a couple of occasions, with the latest transpiring yesterday. However, the beers managed to defend that level, and the subsequent rejection pushed BTC south to $62,750 (on Bitstamp) earlier today.

Nevertheless, the cryptocurrency bounced off and has added about a grand, currently trading close to $64,000 once again. These volatile moves came despite the growing net inflows in the spot Bitcoin ETFs.

This means that its market capitalization stands at a familiar ground of $1.260 trillion, but its dominance over the alts has taken another minor hit and is down to 53.7% on CG.

SHIB, PEPE Shoot Up

When it comes down to daily gains from the larger-cap alts, Shiba Inu takes the main stage with a massive 13% surge. The popular meme coin has risen to $0,000017, and you can find out more about its price increase here.

Another rep of the meme realms, PEPE, follows suit with a 7% jump that has driven it to $0.000009. Their leader, DOGE, has gained over 4% in the past day. The other notable performers include TON, ADA, DOT, and NEAR.

The rest of the larger-cap alts are a lot calmer, with minor losses from ETH, BNB, XRP, and LINK.

The total crypto market cap has increased slightly once again and is now up to $2.350 trillion on CG.

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The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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