Latest Situation in the Cryptocurrency Market: Mobility in Bitcoin and Altcoins After the Elections
The cryptocurrency market continues to experience great activity after the elections. While Bitcoin (BTC) has reached a new high, exceeding $ 76,000, altcoins are rising led by Ethereum (ETH), Solana (SOL) and XRP. However, some cryptocurrencies such as Dogecoin (DOGE) have experienced unexpected declines, causing concern among investors. Here is the current status and details.
Leading Cryptocurrency Bitcoin and Ethereum
Bitcoin is trading at $75,202, up 1% in the last 24 hours. The lowest price during the day was recorded as 72,733.32 dollars and the highest price was 76,460.15 dollars. This rise brought Bitcoin’s market value to $1.49 trillion. However, Bitcoin’s market dominance decreased by 1.18% to 58.53%. This shows that market dynamics have changed and investors are turning to different cryptocurrencies.
$691.01 million worth of inflows into Spot Bitcoin ETFs proves investors’ continued interest in BTC. However, it is not yet clear whether Bitcoin’s rise is just a short-term trend or a long-term transformation. Some analysts note that it may be difficult for Bitcoin to target new highs as large investors tend to sell.
Ethereum, on the other hand, has gained over 10% in value in the last 24 hours and is currently trading at $2,859. The lowest price of ETH during the day was $2,563.82 and the highest price was $2,878.75. Ethereum’s market value reached $344.10 billion. This rise is supported by $52.29 million inflows into spot ETFs for Ethereum. However, constant selling by major investors is making it difficult for ETH to reach a new all-time high.
Solana and XRP: New Faces of Ascension
Solana is trading at $189.17, up 3%. The lowest and highest prices during the day were recorded as $180.35 and $191.79, respectively. Solana’s market value reached 89.20 billion dollars. However, a notable development was that Pumpfum, a major investor, sold approximately $6 million worth of cryptocurrencies during the price increase. This could have a negative impact on Solana’s price movements.
XRP is trading at $0.5616, up 5%. The lowest price during the day was $0.5274 and the highest price was $0.5739. The market value of XRP reached $31.94 billion. Ripple’s move of $250 million worth of XRP attracts the attention of investors, which increases speculation about price movements. This movement in XRP could be a harbinger of future price fluctuations.
Performance of Meme Cryptocurrencies: Dogecoin and Others
Dogecoin (DOGE) is trading at $0.1958, losing 5.5% in the last 24 hours. Shiba Inu (SHIB) decreased by 1.5% to $0.00001899. This unexpected decline experienced by Dogecoin among the meme coins has created serious concern among investors. However, other meme coins such as PEPE, WIF and BONK continue to trade in the green zone. This shows that cryptocurrency investors’ confidence in popular coins such as Dogecoin has been shaken.
The performance of meme coins is often shaped by social media influence and community support. However, DOGE’s decline caused investors to react emotionally, which has the potential to affect the performance of other meme coins. Investors need to carefully monitor market trends and community sentiment.
As a result, the cryptocurrency market is going through a period of major change in the post-election period. It is of great importance for investors to make careful and informed decisions about both leading cryptocurrencies and altcoins. In this process, the change in market dynamics and how investor behavior will be shaped is of critical importance for the future of the cryptocurrency world.
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