Monday, May 23, 2022
Outlook.com

Bitcoin, Ethereum Plunge Up To 16%, Dogecoin, Shiba Inu Follow Suit

While Bitcoin was down 16.88 per cent, Ethereum fell 14.8 per cent. Meme coins Dogecoin and Shiba Inu dropped 19.6 per cent and 16.15 per cent, respectively in the last 24 hours as at 4 pm, as per coinmarketcap.com.

Bitcoin, Ethereum Plunge Up To 16%, Dogecoin, Shiba Inu Follow Suit

Bitcoin, the largest cryptocurrency by market cap, plunged 16.88 per cent in the last 24 hours and was trading at $47,297.53 at 4 pm. Bitcoin’s prices are down 13.64 per cent in the last seven days and the coin’s dominance in the crypto market is 40.51 per cent with a decrease of 0.37 per cent in the last 24 hours. The 24-hour low for Bitcoin was around $42,874, according to coinmarketcap.com, a global cryptocurrency exchange.

Global crypto market capitalisation witnessed a fall of 15.90 per cent with a total market capitalisation of $2.21 trillion at 4 pm, while the total crypto market volume is $204.50B, billion with an increase of 78.54 per cent in the last 24 hours, according to coinmarketcap.com, a global crypto exchange.

The second-largest coin by market cap Ethereum was down 14.8 per cent in the last 24 hours and was trading at $3,900.75 at 4 pm. The price of the Binance Coin fell over 13.92 per cent in the last 24 hours and was trading at $535.47. Tether (USDT), the fourth on the list by market cap, was trading at $1, witnessing a fall of 0.02 per cent. Solana (SOL) fell 18.68 per cent in the last 24 hours and was at the fifth position in the coinmarketcap.com list; it was trading at a price of $192.17.

Meme Coins

Like mainstream coins, all major meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), Dogelon Mars (ELON) and Samoyedcoin (SAMO) continued to fall in the last 24 hours, according to coinmarketcap.com.

Top meme coin by market value Dogecoin fell 19.60 per cent in the last 24 hours and was trading at $0.1665, while Shiba Inu witnessed a fall of 16.15 per cent in the last 24 hours and was trading at $0.00003494 at 4 pm.

Dogelon Mars (ELON) has fallen by 17.59 per cent in the last 24 hours and was trading at $0.000001238, while Samoyedcoin (SAMO) was trading at $0.05723 and recorded a fall of 15.45 per cent in the last 24 hours, according to coinmarketcap.com.

Meanwhile, Euro Shiba Inu jumped 54.04 per cent in the last 24 hours and was trading at $0.0000000003799 at 4 pm, according to coinmarketcap.com.

Latest Update

While speaking at the Hindustan Times Leadership Summit 2021 Finance Minister Nirmala Sitharaman said that the government will bring a well-consulted cryptocurrency Bill, adding that speculation about the developments in crypto space is “unhealthy”.

Moreover, El Salvador has bought 150 Bitcoin at an average price of $48,670, president Nayib Bukele informed on Twitter on Saturday.

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