CandleFocus SHIB and DOGE Defy Overall Sentiment, BTC Recovers From Sub-$67K Dip (Market Watch)
2024-11-05
Author: Content Editor
Yesterday, Bitcoin experienced a significant drop in price, potentially due to outflows from spot Bitcoin ETFs and Mt. Gox-related fear, but it managed to recover all losses. The altcoin market was relatively slow, except for two meme coins, SHIB and DOGE, which saw impressive gains. Bitcoin's price decline started on Tuesday, reaching a low of $66,800 on Friday. However, it quickly rebounded and currently trades around $69,000. The cryptocurrency's market capitalization remains around $1.360 trillion, with a dominance of nearly 57%. Most larger-cap altcoins have stayed relatively stable, with ETH, TRX, AVAX, and LINK in the red and BNB, SOL, XRP, ADA, and BCH experiencing minor gains. TONcoin saw the largest decrease in value, losing nearly 6%. On the other hand, SHIB and DOGE had significant surges, with DOGE soaring over 11% after Elon Musk's recent appearance on the Joe Rogan podcast. The total crypto market cap remains around $2.4 trillion.
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