Canine-themed meme tokens like ELON, SHIB and DOGE have taken control of the market while Bitcoin consolidates below $57,000 and Ethereum holds above the $4,000 mark.
6412 Total views
27 Total shares
Cryptocurrency traders awoke to an altcoin bonanza as a handful of meme tokens, along with some of the more established projects, staged double-digit rallies while Bitcoin (BTC) price slowly recovers to the $57,000 level.
The biggest event generating conversations across the crypto sector and social media is the rise of dog-themed tokens inspired by the recent mega rally from Dogecoin (DOGE). The more than 20,000% rally from DOGE has shocked value investors across the world and many Bitcoin maximalist and equities traders are scratching their heads in confusion, given that DOGE was originally created as a simple joke.
While DOGE has experienced a 40% pullback since reaching an all-time high at $0.74 on May 8, other canine-themed tokens have jumped out ahead of the pack to take the lead while Dogecoin takes a breather.
Demand for Shiba Inu (SHIB) has been so intense that buyers overwhelmed the Binance system with deposits, causing the top exchange to run out of deposit addresses, while the Binance Smart Chain-based Australian Safe Shepherd (ASS) token has gained more than 400% in 24-hours. The Elon Musk-inspired Dogelon Mars (ELON) has al rallied 170%.
While Ether (ETH) continues to hold the $4,000 level as bulls successfully defend against any significant move to the downside, EOS, the once touted ‘Ethereum Killer’, has seen its price spike more than 40% after Block.one announced that it had secured $10 billion in funding for the creation of an EOS-based cryptocurrency exchange called Bullish Global.
Other notable altcoin gains include a 35% rally in the price of Yearn.finance (YFI) to establish a new record high at $77,041 and a 20% spike in the price of Reef (REEF) to an intraday high of $0.508.
The overall cryptocurrency market cap now stands at $2.449 trillion and Bitcoin’s dominance rate is 42.8%.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Litecoin (LTC) price is down today, mirroring downside moves elsewhere in the crypto market.On July 5, the LTC price dropped over 3% to $100.50. On the same day, the crypto market's overall capitalization fell 2%, suggesting traders have started securing profits at the local tops of multiple cryptocurrencies.LTC/USD daily price chart vs. crypto market capitalization.…
The price of Bitcoin (BTC) dropped sharply after approaching $18,500 on Binance and Coinbase. The plunge took place as large sell orders were spotted on both spot and futures exchanges.BTC/USD 15 minute chart. Source: TradingView.comAs Cointelegraph previously reported, traders anticipated a pullback as the price of BTC neared the $18,000 to $19,000 resistance zone. Upon its…
Crypto tax reporting was a contentious topic in the U.S. last year as Congress passed the Infrastructure Investment and Jobs Act. 312 Total views 6 Total shares Cryptocurrency portfolio tracker and tax calculator CoinTracker has attained “unicorn” status after raising $100 million in Series A financing, demonstrating once again that investors are allocating vast sums…
Meltem Demirors believes that the current Bitcoin price drop is a correction, and it is weeding out the paper hands. 1154 Total views 4 Total shares The downward trend in Bitcoin’s (BTC) price following its April all-time high might be worrying for first-time investors. Still, CoinShares chief strategy officer Meltem Demirors believes that most of the…
Chinese cryptocurrency exchange Huobi has responded to mounting accusations it has “colluded” with EOS on “mutual voting” practices, Tuesday, October 2.In a brief statement, the exchange said an investigation into the allegations which Cointelegraph reported on October 1 was “still ongoing.”“Based on the initial investigation, there were no financial contracts involved between Huobi and any…
According to FTX's former chief technology officer, Sam Bankman-Fried committed crimes with himself, Nishad Singh and Caroline Ellison. Gary Wang, the co-founder and former chief technology officer of cryptocurrency exchange FTX, was the latest witness to testify in the criminal trial of former CEO Sam “SBF” Bankman-Fried.According to reports from Inner City Press, Wang addressed
“We’ve long recognized Israel as a hot bed of strong technology and cryptography talent, and are excited to continue to grow our team with some of the best and brightest minds in these fields,” said Coinbase. 968 Total views 42 Total shares Cryptocurrency exchange Coinbase will acquire cryptographic security company Unbound Security in a move…
One unlucky BAYC holder just lost $167K in Bored Ape NFTs, Ronaldo’s still on the hook for Binance NFTs, and a fantasy influencer NFT game has topped Tron in fees.
It's not a decentralized exchange in the truest sense of the word, but a peer-to-peer token swap platform under the oversight of Square. 462 Total views 8 Total shares Jack Dorsey, co-founder, and CEO of both Square and Twitter, released a white paper Friday detailing plans for Square's decentralized Bitcoin (BTC) exchange tbDEX. Unlike most…