The global crypto market cap is down by 1.45%, hovering around $2.22 trillion with an FGI of 51 points for neutral sentiments. A slight correction is a natural course of price movements in the crypto realm. Additionally, it comes only hours after Kamala Harris pledged to promote the AI and crypto segments. Some believe that the market’s growth is not heavily influenced by the outcome of upcoming elections. True, but there is still a modest hit in the picture that can impact the pace of surges.
BTC and ETH Remain Close to Highs
Bitcoin is exchanging hands at $63,057.64, down by 1.37% in the last 24 hours. Bitcoin tokens are still closer to reaching $64,000, which was the goal in the first place. By the middle or end of October 2024, it is anticipated that the price will subsequently increase to $80,000. It is also speculated that the increased interest in AI tokens is being driven by the commitment to AI and cryptos, rather than any other segment. That said, analysts are pointing out the Bitcoin Options market, which is experiencing the commencement of reflexivity season with a core focus of having the price in the range of $80,000 and $90,000.
Ethereum tokens were previously seen outperforming Bitcoin. They have now experienced a larger decline. Current Ethereum price predictions indicate that ETH has plummeted by 1.53% in the same time frame to a value of $2,625.09, which further reflects a rise of 14.73% in the last 7 days. BTC, on the other hand, has only a growth of 8.21% since the previous week. Suffice it to say, there is still a hint of outperforming the flagship crypto, which is keeping ETH holders on edge.
Meme Coins Fall
Dogecoin maintained a small amount of its gains, losing only 0.15% of its weight in the last 24 hours. The token value is now $0.1074—above the acceptable value of $0.1. Shiba Inu has made better gains in the last 7 days, but is down by 2.07% in a single day. Weekly gains reach 8.59%, up from 7.37% by DOGE. SHIB is listed at $0.00001438.
Investors are shifting their focus to AI tokens. This is causing a slight decline in the meme coin segment. Chances are that values will take another dip in the next couple of days. Considering the trend, upticks are on the horizon as the year comes to an end, with giants like DOGE and SHIB likely to surpass $0.11 and $0.00002, respectively.
Other Gainers and Losers
BNB is one of the few tokens to have gained value in the last 24 hours. It is up 1.41% to a value of $601.73. The year-end target now is to breach the mark of $700. The news of the Binance Founder’s expected release from jail later this week likely triggered the price surge. Bitcoin is also aiming for a surge with stronger leverage.
MEW is an outlier in the meme coin segment, having increased by 7.86% to a value of $0.005421. MEW is one of the few tokens to have banked gains in the last 24 hours—at a time when the likes of PEPE and WIF are down by 2.42% and 1.04%, applicable in the same order.
Conclusion
Expect more fluctuations in the crypto market, particularly as the presidential election draws near. A commitment from Harris could soon face a counterattack from Trump, the former President of the US.
Disclaimer: Values were true at the time this article was written. This content is not investment advice.