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    Home » Market Updates » Bitcoin Consolidates as Shiba Inu (SHIB) Explodes 35% Daily Again (Weekend Watch)

    Bitcoin Consolidates as Shiba Inu (SHIB) Explodes 35% Daily Again (Weekend Watch)

    Author: Jordan Lyanchev

    Last Updated Oct 10, 2021 @ 06:46

    Shiba Inu’s volatility continues with a massive leg up this time of 35%. Bitcoin has remained still around $55,000.

    After touching $56,000 for the first time in five months, bitcoin retraced slightly and currently stands around $55,000. Most altcoins continue with indecisive moves in either direction, except for Shiba Inu, which has gone on the offensive once more with a 35% daily surge.

    Bitcoin Stalls at $55K

    The past week or so showed once more how quickly the landscape could change in the cryptocurrency markets. Bitcoin entered October at around $45,000 after recovering $4,000 in days following the late-September crash to $41,000.

    It started to increase in value rapidly and, in just a few days, knocked on the $50,000 door. Although the first attempt was not successful, BTC came back again and, this time, brought it down.

    The bulls had more to give and kept pushing the asset north. As a result, bitcoin spiked to $56,000 yesterday, which became the highest level since mid-May.

    However, it failed to continue upwards and dipped by more than $2,000 in the following hours. As of now, bitcoin has recovered roughly $1,000 and stands at approximately $55,000.

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    BTC’s market capitalization still stands well above $1 trillion, while the dominance over the altcoins is just shy of $45%.

    BTCUSD. Source: TradingView
    BTCUSD. Source: TradingView

    Shiba Back at it Again

    The alternative coins have lost some ground against their leader in the past week, which is evident from the increasing BTC dominance. Nevertheless, most have performed well against the dollar, with Ethereum recovering $700 from $2,900 to its current level of $3,600.

    On a 24-hour scale, though, most have remained calm with minor losses. Such is the case with Cardano, Binance Coin, Ripple, Solana, Polkadot, Uniswap, and Avalanche.

    However, Terra has dumped hard by roughly 8% in a day and now stands below $45.

    Cryptocurrency Market Overview. Source: Quantify Crypto
    Cryptocurrency Market Overview. Source: Quantify Crypto

     

    Shiba Inu, arguably the most volatile coin in the past few weeks, has resumed its bullish trajectory. After dumping by 30% yesterday, it has skyrocketed by 35% today and currently sits at $0.00003. Celer Network is the other notable gainer in the past 24 hours, with a 22% surge to $0.17.

    As such, the cryptocurrency market capitalization has remained rather still above $2.3 trillion.

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    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Tags: Bitcoin (BTC) Price Shiba Inu (SHIB)
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    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

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