The global crypto market cap has breached $2.37 trillion, with Bitcoin ($BTC) dominating over half the share. That is an uptick of 3.36%, and chances are that the market will carry forward the momentum for a while. Ethereum ($ETH) is playing along, sticking to the bull run, and so are top meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB).
Bitcoin and Ethereum see highs
ETH has outperformed BTC in the last 24 hours. It has risen by 3.79%, while BTC has surged by 3.24%. The difference is pretty narrow, but there is something to be happy about for ETH holders.
The current Bitcoin price is $64,556.95, while Ethereum is trading at $3,461.45. The last 24 hours were comparatively smooth. Both flagship cryptocurrencies saw upswings in their token values. Bitcoin traded positively after hitting approximately $62,000. It has not moved below that line to turn trades red. Experts speculate that the German Government’s selling may have significantly contributed to the market’s lows.
Meme coins fetch returns
It has been a long time since meme coins surged positively. Their collective market cap is above $50.94 billion, up by 12.13% and a jump of 70.53% in trading volume. Dogecoin holds more than $18 billion of the market in the segment, and Shiba Inu is in the second position with over $11.62 billion. Their respective token values were $0.1251 and $0.00001972 at the time this article was written.
PEPE has gained the most. It has seen an uptick of 28.93% in a single day, outperforming DOGE and SHIB, which had surges of 6.47% and 9.97% during the same time window. However, assuming that PEPE is a better token is not safe. An ideal approach is to wait and see how well the top two meme coins recover in the coming days, especially how they react to the approval of Spot Ether ETF.
Other gainers and losers
XRP is up by 4.98%, listed at $0.5559. Toncoin ($TON) is short in terms of market cap, but it has fairly caught up with a token value of $7.56 and an upswing of 0.83% in the last 24 hours. TON appears steady because it has only lost 0.29% in the last hour, whereas XRP has shed 1.73% of its weight. Cardano ($ADA) has gained 2.36% in the last 24 hours and is up by 19.81% in the last 7 days.
The WIF from the meme coin segment is currently heavier, with a better bull run. With a surge of 27.40% in the last 24 hours and 29.31% in the last 7 days, the token currently trades at $2.24. The token competes with FLOKI, as its comparable performance suggests a potential synchronization between them.
Conclusion
Interestingly, the entire crypto market is in sync with Bitcoin and Ethereum. Bitcoin may have a stronger connection to the market, given that the German government’s sale of a portion of its seized BTC caused significant disruption. Similarly, Mt. Gox’s announcement created a tough situation for token holders.
Disclaimer: The article is for reference only and should not be considered a piece of investment advice or recommendation.