DOGE, SHIB Plummet by Double Digits, NEAR Skyrockets 26% Daily (Market Watch)

2 months ago 21

Bitcoin’s price movements have been significantly less eventful in the past day or so after the massive volatility experienced on Tuesday.

The landscape is a lot different among most altcoins, as BNB, SOL, and MATIC have jumped by 5-7%, while DOGE and SHIB have plummeted hard.

BTC Stalls at $66K

After gaining over ten grand last week and going well above $60,000, all eyes in the crypto community were on Bitcoin at the start of the current one. Anticipation was building on whether the asset would challenge and even break the 2021 ATH of $69,044 (on CoinGecko).

The hype was fueled by the substantial gains on Monday that drove BTC from under $62,000 to around $68,000. Bitcoin failed at the first attempt, but the bulls propelled a leg up that resulted in charting a new all-time high on Tuesday at $69,300.

However, the bears came out of the woods at this point and pushed Bitcoin south hard. In a matter of hours, the cryptocurrency had fallen by almost ten grand and dumped to under $59,500.

Yet, among reports from analysts that there’s no need for fear, BTC started recovering rather quickly and returned to around $67,000 almost immediately. Since then, the asset has not moved much and stands just under that level as of now.

Its market cap remains above $1.3 trillion, while its dominance over the alts has taken a minor hit and is under 50%.

SHIB, DOGE on the Retrace, NEAR Soars

Most meme coins were on a roll lately, led by the two largest reps. Now, though, the situation with DOGE and SHIB is quite different. The OG meme coin is down by 10% in the past 24 hours, while SHIB has plummeted by 15%.

ETH has also slipped to under $3,800 after a minor daily retracement. In contrast, SOL, BNB, and MATIC have marked gains of around 5-7%.

Nevertheless, NEAR has emerged as the top performer from the larger-cap alts, having soared by 26% daily. ATOM and HBAR follow suit with 10% increases.

The total crypto market cap has seen a minor jump in the past 24 hours and is up to almost $2.650 trillion on CoinGecko.