Elon Musk-fueled meme coin rally appears to have finally ended.
Dogecoin/link and Shiba Inu (SHIB) have posted significant losses over the past 24 hours, per data from Coingecko.
DOGE has lost over 12.3% in value over the past 24 hours and trades at around $0.10, according to data from Coingecko. Despite today’s heavy losses, DOGE is still up 67.5% over the past 30 days.
Intense trading for the canine-crypto pumped its daily trading volumes across multiple exchanges to $2.3 billion, a 30% jump over the previous day.
With a market capitalization slightly above $14 billion, DOGE is still the 8th-largest cryptocurrency. If the downturn continues, however, it could drop its ranking to layer-1 blockchain Cardano (ADA).
Over $15.09 million worth of Dogecoin futures positions were liquidated over the past 24 hours, per data from Coinglass. Most liquidations (~80%) came from blown-out long trades.
Dogecoin liquidations, green bars indicate blown-out long trades. Source: Coinglass
SHIB backs DOGE
In the past, SHIB and DOGE price actions have strongly correlated. Today is no different.
The second-largest meme coin, Shiba Inu (SHIB), is also down 8.5%, wiping off the coin’s monthly gains over the past 24 hours, per data from Coingecko.
At press time, SHIB changes hands at around $0.00001.
Bitcoin erased gains Monday ahead of the U.S. midterm elections and the expected release of inflation data.
The largest cryptocurrency by market cap was trading for $20,710, down 2.4% in 24 hours, CoinGecko data showed at the time of writing.
It is now only up minimally in the past seven days by 0.5%, losing the gains it made at the weekend when it broke above the $21,000 mark—at one point hitting $21,414—jumping after news of job growth in the U.S.
Ethereum, the second biggest digital asset,...
The primary reason behind the market-wide bearish price action is likely around growing insolvency fears of crypto exchange FTX.
If unfortunately FTX becomes another LUNA,nobody in the industry can benefit from the accident including Binance. Both customers and regulators will lose some confidence about the whole industry .I hope CZ can think about stop to sell FTT and make a new deal with SBF.
Crypto funds issuer Canary Capital has applied for the first exchange-traded fund based on the performance of SEI, the token of the Sei layer-1 blockchain, according to a filing with the U.S. Securities and Exchange Commission on Thursday.
The Canary Staked Sei ETF includes staking, allowing investors to earn extra yield on their investment.
“The Trust’s investment objective is to…..provide exposure to the price of Sei held by the Trust,” the filing said. “A secondary investment objective is for...
Crypto influencers with major reach on X (formerly known as Twitter) have the opportunity to claim hundreds of thousands of dollars worth of tokens from Boop.fun, a new token launchpad and Pump.fun competitor on Solana—but they have to launch a token to do so.
The platform’s launch and airdrop mechanism has generated a lot of attention among crypto participants, but created an ethical and moral dilemma for some users in the process.
“If you were offered a $200,000 airdrop to launch a token, wo...
The rise of prediction markets has given crypto participants a wide array of opportunities to test their knowledge of markets, politics, pop culture, and more.
By using a prediction market like Myriad, users can follow or wager on a real-time, community-sourced indicator of an event’s likelihood, potentially cashing in on their knowledge in the process.
What’s popping on Myriad this week? Here’s a look at some of the most interesting, active, and newsworthy markets right now, including current...
