Following the recent elections, the cryptocurrency market continues to experience significant movement, with Bitcoin (BTC) reaching a record high above $76,000. Altcoins are also showing strong performance, led by Ethereum (ETH), Solana (SOL), and XRP. However, Dogecoin (DOGE) saw a surprising drop, causing concern among investors. Here’s a look at the latest trends.
Bitcoin and Ethereum Lead the Rally
Bitcoin recently increased by 1%, trading at $75,202, with a 24-hour low of $72,733.32 and a high of $76,460.15. This rise has boosted BTC’s market cap to $1.49 trillion. However, Bitcoin’s market dominance dropped by 1.18%, now standing at 58.53%. Despite this, a substantial inflow of $691.01 million into spot Bitcoin ETFs shows investor interest remains strong.
Ethereum saw a more significant surge, climbing over 10% in the last 24 hours to reach $2,859. It traded between a low of $2,563.82 and a high of $2,878.75 during this period. Ethereum’s market cap now stands at $344.10 billion, supported by a $52.29 million inflow into spot Ethereum ETFs. However, despite this increase, reaching a new all-time high might still be challenging due to continuous sell-offs from major investors.
Solana and XRP Join the Surge
Solana rose by 3%, currently trading at $189.17. Throughout the day, SOL’s price ranged between $180.35 and $191.79, giving it a market cap of $89.20 billion. Nonetheless, some large holders, like Pumpfum, have been selling portions of their holdings, with recent sales reaching around $6 million.
XRP also gained traction, rising by 5% to $0.5616, with daily trading between $0.5274 and $0.5739. Its market cap reached $31.94 billion. Ripple’s recent transfer of $250 million worth of XRP has attracted considerable attention, sparking speculation around future price movements.
Meme Coins: Dogecoin Faces Unexpected Decline
Dogecoin (DOGE) experienced an unexpected 5.5% drop, currently trading at $0.1958. Shiba Inu (SHIB) also saw a slight dip of 1.5%, falling to $0.00001899. In contrast, other meme coins like PEPE, WIF, and BONK continued trading in the green, drawing the focus of investors who are still interested in this niche market. DOGE’s recent decline has raised concerns, but the overall meme coin sector continues to pique interest.
Stay tuned to The Bit Journal for the latest updates on these trends as the post-election rally continues to impact the crypto market.
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