- It’s not been the best week for cryptocurrencies, with Elon Musk’s bombshell causing Bitcoin to tank and the other altcoins following suit.
- However, in the past 24 hours, the market has shown signs of recovery, with Shiba Inu and Dogecoin leading the rally as Bitcoin fights to stay above $50,000.
It’s been a mixed week for the cryptocurrency industry. For some like Ethereum, it was the best week ever as it hit its all-time high this week. However, for others like Bitcoin, it was the kind of weeks its fans will want to forget as one of its biggest backers turned against it. Collectively, the overall market cap has stayed above $2.2 trillion, but it has been the altcoins that have mostly held it up there.
Bitcoin has flirted with the $50,000 price level for much of the past 24 hours, dipping at times below this level. At press time, it was trading at $50,760, up by a mere 0.37 percent in the past day. In that time, it traded at a low of $47.084 and a high of $50,935 according to our data. As per Bybt, Bitcoin saw $235 million worth of liquidations in that time.
According to most analysts, the Tesla move to halt BTC payments was still weighing heavily on the market and was a key reason BTC is still on a bearish trend. Laith Khalaf, an analyst at Manchester, U.K-based investment company AJ Bell captured the impact, remarking:
Environmental matters are an incredibly sensitive subject right now, and Tesla’s move might serve as a wake-up call to businesses and consumers using bitcoin, who hadn’t hitherto considered its carbon footprint.
A report that Binance is under investigation hasn’t helped matters either. The exchange, which is the world’s largest, is reportedly being investigated for money laundering.
Dogecoin and Shiba Inu lead a market recovery
While the “serious cryptos” have seen sideways movement in the past 24 hours, the meme coins have soared. Dogecoin was the biggest gainer in the top 20 cryptos with a 17 percent surge. The meme coin recorded a low of $0.3763 and a high of $0.5687 in the past day. At press time, it was trading at $0.532.
Doge has long received criticism for not having a dedicated development team and few use cases. However, the Dogefather Elon Musk has recently revealed that he’s working with the Doge developers to improve transaction efficiency. This came just days after he announced that Tesla had dropped Bitcoin as a payment method. In addition, he ran a poll on Twitter in which an overwhelming majority voted for Doge to replace Bitcoin at Tesla. Investors are clearly connecting the dots and DOGE is soaring.
Coinbase is also set to list Dogecoin in the next two months, so it’s generally a good time to own the coin.
Shiba Inu, Dogecoin’s “cousin”, or its killer by some narratives, is also seeing huge gains. And while it has shot up about 10 percent in the past 24 hours, it’s up 720 percent in the past week. Despite being one of the newest coins, it’s now the 25th largest crypto by market cap (but then again, stranger things have happened.)
Shiba Inu has shown incredible resilience to withstand the big dump by Vitalik Buterin recently. While it was for a good cause, SHIB owners will find it hard to see it that way.
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Bitcoin DOGE Dogecoin Market Analysis Tesla
This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.
Steve Msoh
Steve, a seasoned blockchain writer with eight years of dedicated experience, brings a wealth of knowledge and passion to the world of cryptocurrency. His journey as a crypto enthusiast spans even longer, fueling his continuous dedication to this transformative technology. Steve's true calling lies in the potential of blockchain to drive positive change, particularly in addressing the pressing issues confronting developing nations. With a deep-rooted commitment to advancing the adoption of blockchain solutions, he strives to bridge the gap between innovation and impact, making the world a better place through blockchain's incredible potential.Business Email: info@crypto-news-flash.com Phone: +49 160 92211628
FAQs
Dogecoin ($DOGE)
Spotlight Wire Dogecoin, commonly known by its moniker DOGE, being the world's first meme crypto is the strongest candidate on this list to achieve 1$ valuation. In the 2021 bull market, Dogecoin nearly reached this goal, hitting a high of $0.74376.
Will Shiba Inu reach $1 cent by 2025? ›
It would be extremely difficult for Shiba Inu to reach 1 cent. Even during SHIB's all-time high in October 2021, when the token was trading at $0.0000881, SHIB would have needed to increase in price by 113x to hit $0.01.
Which crypto will explode in 2024? ›
Top 10 Cryptos in 2024
| Coin | Market Capitalization | Current Price |
|---|
| Solana (SOL) | $69 Billion | $154.53 |
| Ripple (XRP) | $28.4 Billion | $0.5131 |
| Dogecoin (DOGE) | $23.8 Billion | $0.1653 |
| Tron (TRX) | $10.1 Billion | $0.1152 |
6 more rowsApr 15, 2024
As of now, Shiba Inu (SHIB) remains an active cryptocurrency in the market. Whether it's considered “dead” can depend on various factors, including its trading volume, community activity, development updates, and market sentiment.
What are the top 2 meme coins? ›
Top Meme Coins Today By Market Cap
| # | Name | 24H |
|---|
| 1 | Dogecoin ( DOGE ) | -0.88% |
| 2 | Shiba Inu ( SHIB ) | -2.38% |
| 3 | Pepe ( PEPE ) | -1.36% |
| 4 | dogwifhat ( WIF ) | -3.93% |
39 more rowsTop 5 Meme Coins of 2024
| Coin Name | Market Capitalization | Price |
|---|
| Dogecoin | $21 billion | $0.15 |
| Shiba Inu | $15 billion | $0.00002579 |
| Pepe Coin | $3.21 billion | $0.000007627 |
| Floki | $1.8 billion | $0.000189 |
1 more row6 days ago
According to our calculations, Shiba Inu might reach an average price of $0.0077 by 2050. Shiba Inu may also face short downturns, with the minimum price level hanging around $0.0074.
What will Shiba Inu be worth in 2040? ›
In the long term, the Shiba Inu Coin exhibits significant potential. Our highest projected price for Shiba Inu Coin in 2040 is $0.089. It's important to consider that, conversely, the minimum price level for a SHIB Coin could be around $0.054.
Will experts predict that Shiba Inu will be worth $10 by 2024? ›
Will Shiba Inu Coin Reach $10 by 2024? In light of current market understanding and analysis, Shiba Inu reaching a $10 value by 2024 appears unlikely. That said, the world of cryptocurrency is highly unpredictable, and significant advancements could theoretically alter the course of SHIB's future.
Which crypto can give 1000x in 2024? ›
Here's a quick overview of what coins have the potential to be the next 1000x cryptocurrencies.
- Dogeverse (DOGEVERSE) – Most likely crypto with 1000x with over 600,000% staking APY.
- WienerAI (WAI) – Potential 1000x coin merging meme coins with AI.
- Slothana (SLOTH) – New Solana-based meme coin with an explosive launch.
Prediction: Ethereum Will Reach $10,000 in 2030 | Nasdaq.
Which crypto will skyrocket? ›
Which Altcoin To Buy in The Next Crypto Bull Run
- Ethereum (ETH) Market cap: $459.16 billion. ...
- Solana (SOL) Market cap: $58.39 billion. ...
- Cosmos (ATOM-USD) Market cap: $4.85 billion. ...
- Kaspa (KAS-USD) Market cap: $3.48 billion. ...
- Stellar (XLM-USD) Market cap: $3.92 billion.
Ethereum (ETH) Price Prediction 2030
According to your price prediction input for Ethereum, the value of ETH may increase by +5% and reach $ 4,306.32 by 2030.
Is Cardano a dead project? ›
With 74% of Cardano ecosystem projects classified as dead, it's a concerning statistic. Moreover, the report highlighted that the average lifespan of a crypto project is around 2.21 years, with a significant percentage failing within the first six months or one year.
Will the Shiba Inu coin reach $1 in 10 years? ›
Reaching $1 would be like defying gravity. It just can't happen. No matter how explosive the next bull market might be, there is no chance Shiba Inu will hit $1. By just about every measure, this dog may have seen its last day.
Can memecoin reach 1? ›
While the prospect of hitting the $1 mark by 2024 paints an optimistic future, investors should proceed with caution. Market sentiments, while currently favorable, are subject to rapid changes. This analysis serves as a comprehensive guide to navigating the meme coin market but does not guarantee future returns.
Which new meme coin will explode? ›
The project intends to launch a fun play-to-earn ecosystem following its launch, helping bring added utility. Buy $SPONGE today. Spotlight Wire Meme Kombat ($MK) is another meme coin to buy now. Following its launch in March 2024, it looks primed to explode.
Can Pepe go to 1 cent? ›
Pepe Coin will never reach 1 Cent as it is unlikely ever to reach a Market Cap of 4.2 Trillion (Higher than Apple Today).
Which meme coin will explode in 2025? ›
While predicting which coins will 5X by 2025 is challenging, Ethereum, XRP, Cardano, Dogecoin, Toncoin, Shiba Inu, TRON, Cronos, and NEAR Protocol are among the top contenders with strong potential for explosive growth.
