Dogecoin, Solana and Shiba Inu Coins Turn Green as Bitcoin Falls Below $28,000
Bitcoin falls below USD 27,000 and maintains a neutral sentiment score
The US Commodities Futures Trading Commission (CFTC) filed a lawsuit against Binance and its creator Changpeng Zhao, alleging that Binance traded unregistered cryptocurrency futures in the US, sending the price of bitcoin and other popular crypto tokens significantly lower than last week. In addition, concerns about the banking crisis have subsided, which has reduced interest in crypto assets. However, the story of decentralization continues in all markets. On the other hand, liquidity concerns remain prevalent in the risky asset markets. Over the past week, Bitcoin, the most crucial crypto-asset, had some big gains as it fell below $27,000 and fell by more than 3%. Amidst this Bitcoin fall, Dogecoin, Solana and Shiba Inu turned green.
But at the time of writing, the value of Bitcoin is US $27,919.06. The value of Dogecoin is US $0.09721, with a value increase of 24.69% in one day. The value of Solana is 20.53 USD, with an increase of 1.53% in a day. The value of Shiba Inu is US $0.00001133, with an increase of 5.79% in one day.
At US $20.43, Solana price prediction has changed from bearish to bullish after rising nearly 0.03% in the last 24 hours and about 2.07% in the last seven days. The increasing demand for decentralized finance initiatives (DeFi) and the growing recognition of Solana’s blockchain network are to blame for the increase in the price of Solana.
According to sources, Dogecoin surged 20% on Monday in less than an hour, hitting its highest price in nearly a month. Since then, the price has risen even more, now at $0.095. Twitter posted a poop emoji in response to Decrypt’s question about the decision to include the mascot. Elon Musk seemed aware of the uproar surrounding the change when he tweeted the photo below shortly after it was made.
The Shiba Inu, which has attracted a lot of attention recently, has risen to position 14 in market value. Market analysts believe it is in an excellent position for growth, despite the significant price fluctuations recently. Shibarium, the network’s new Layer-2, has been up and running for a few days, and this has caused a flurry of activity among the Shiba Inu community. Users can learn how Shibarium works, especially regarding the proof-of-stake (PoS) consensus mechanism and the Shibarium Bridge, which is now operational in its beta version. The new functionality of Shiba Inu is a Layer-2 chain built on top of the Ethereum network, which makes use of the security and decentralization while providing speed.
The SHIB meme coin has been actively pushed for listing on major exchanges by the Shiba Inu community and their efforts have now paid off. SHIB will be listed on BitFlyer, one of the largest exchanges in Japan with 2.5 million members, according to the company. As BitFlyer is one of the most recognized and trusted exchanges in the Japanese industry, this is a huge milestone for the SHIB community.
Since its establishment in 2014, BitFlyer has grown to become a significant player in the cryptocurrency market. The center’s user-friendly interface and strong security procedures are well known to them. The choice to list SHIB is testament to the rising fame of the meme coin, which has attracted a significant following in recent months.
The sentiment score for Bitcoin for the past five days is neutral. The Sentiment Score evaluates Bitcoin’s performance over the past five days regarding volume and price changes. Sentiment Score provides an immediate overview of the cryptocurrency summary of the cryptocurrency’s recent performance. This can be useful for both long-term investors looking to buy the drop and short-term investors looking to ride a rally.
