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Highlights
- Leading cryptocurrencies have taken a hit, shedding a sizeable portion of their values.
- The broader crypto market has shrunk by nearly 2% following the corrections.
- A few outliers are swimming against the current to post impressive daily gains.
Cryptocurrencies are swimming in a sea of red following a wave of market corrections across top assets. A glance at the charts reveals that crypto price today exhibits dour sentiments with BTC, ETH, SOL, and XRP in bleed mode.
Crypto Price Today: Top Coins Suffers Are In The Red
According to CoinMarketCap data, flagship cryptocurrency Bitcoin (BTC) has dipped by nearly 2% today to trade at $87,000, quelling enthusiasm for a run toward $90K. Bitcoin’s decline is pulling other assets underwater with the largest altcoin Ethereum down by 3.1% at just above $2,000.
The fourth-largest cryptocurrency by market capitalization has shed nearly 4% as it exchanges hands at $2.36. The asset has failed to rally following the dismissal of the Ripple SEC Case, wallowing at 38.27% from its all-time high of $3.84.
Furthermore, Solana (SOL) has lost 5% of its value as it trades at $137. The sixth-largest token has erased previous gains despite rising institutional interest from Polymarket enabling SOL deposits and BlackRock’s BUIDL fund launching on the network.
On the other hand, Cardano (ADA) is bleeding at $0.7, after shedding nearly 5% of its market capitalization in the correction. Predictions for ADA to $10 seem far off for the ninth-largest cryptocurrency with daily trading volumes of under $1 billion confirming widespread optimism.
Chainlink (LINK) trades at $15.19 with a respectable 1.68% decline for the asset. Daily trading volumes of over 12% are signaling a potential upswing for LINK price in the near future.
Memecoins Are Recording Impressive Gains
While the rest of the market is bleeding memecoins are bucking the trend to notch upswing. Shiba Inu (SHIB) has surged by nearly 4% as it seeks to eliminate a zero from its present price.
Dogecoin (DOGE) continues its upward trend, climbing by 2% to trade at $0.1945 on the heels of a Dogecoin Reserve. DOGE’s daily trading volume is matching the enthusiasm of price predictions touting the memecoin to embark on a strong rally.
The biggest gainer of the lot is PEPE with its near 7% spike over the last day. The memecoin has a daily trading volume of $1 billion, a 96% jump over the last day as it eyes an increase in its market value.
Despite the rallies, Ark Invest’s Cathie Wood says memecoins will lose value in the coming days. However, the memecoin rally was unable to stop the global market capitalization for crypto price today from sliding by 2% to settle at $2.84 trillion.
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