The global cryptocurrency market cap on Wednesday, October 27, was standing at $2.48 trillion on a day emerging altcoin Shiba Inu registered record growth after an anonymous buyer purchased 277 billion tokens. The SHIB token, as it is known among those familiar with crypto, was up by 27.22 per cent at the time of writing this article. The value of one token stood at $0.00005375 at this time. The altcoins surged up to 7,72,734.25 per cent on Wednesday. However, the crypto market cap was down by 6.60 per cent over the course of the last 24 hours, data available at CoinMarketCap showed.
The total crypto market volume over the last 24 hours was $142.61 billion. This is a whopping 43.84 per cent increase over the course of the last 24 hours, mostly due to the huge amount of Shiba Inu token purchase made by the anonymous buyer. The volume of all stable coins was standing at $113.20 billion, which is 79.38% per cent of the total crypto market 24-hour volume.
“The meme coin, Shiba Inu, continued its dream run over the past 24 hours. A huge buying volume kept the coin pumped up. Over the coming 24 hours, we could likely witness a consolidation across the spectrum,” said chief executive officer and co-founder, Mudrex, a global crypto trading platform. Shiba Inu is currently the 11th largest crypto coin with a market value of nearly $24 billion, according to reports.
“The past 24 hours remained a cool off period for the cryptocurrency market. Most of the top 10 cryptocurrencies by market capitalisation witnessed minor profit booking. hovered around their strong support levels,” added Edul Patel on the overall crypto market.
Bitcoin on the other hand saw a downward trend again on Wednesday, after touching record high last week. The most popular altcoin was down by 6.23 per cent over the last 24 hours and standing at $58,862.03.
“Bitcoin dominance decreased marginally, which is a positive sign for the altcoins, because of the overall stability in the market. The total cryptocurrency market cap remained close to $2.6 trillion,” said Patel.
“As Bitcoin and most other major Crypto currencies are soaring to new lifetime highs, Etherium too is not lagging far behind. In fact, its longer term weekly pattern appears very promising as an ascending triangle breakout has taken place previous week, putting the long term target for Etherium beyond $5000. However, these kinds of movements may take time and also intermittently paused by healthy retracements. So in short term, risk management becomes of utmost importance,” said Manoj Dalmia, founder and director of Proassetz Exchange.
BitUp was the top gainer in the crypto market, surging up to as high as 7,72,734.25 per cent over the course of the last day. The value of one BitUp token was $732.65 while writing this article. FlokiGravity came next, standing at $0.0002349, and up by 2,75,414.67 per cent over the last 24 hours. REALPAY, valued at $0.4375 per token, came third with a surge of 7,910.33 per cent in the last day.
As far as top losers were concerned, the first position was taken by Advar Protocol coin, which went down by 81.75 per cent and was priced at $0.0001762. Pumpkin Inu and Xpose Protocol came second and third in the chart, decreasing by 69.98 and 68.20 per cent respectively during the course of the last day.
Top 6 Cryptocurrency Gainers (According to data from CoinMarketCap)
Bitup: $732.65 – up by 7,72,734.25 per cent over last 24 hours
FlokiGravity: $0.0002349 – up by 2,75,414.67 per cent over last 24 hours
REALPAY: $0.4375 – up by 7,910.33 per cent over last 24 hours
Elon’s Marvin: $0.2193 – up by 439.86 per cent over last 24 hours
100xCoin: $0.000000006845 – up by 362.20 per cent over last 24 hours
WeiUp: S0.00000008564 – up by 334.72 per cent over last 24 hours
Top 6 Cryptocurrency Losers (According to data from CoinMarketCap)
Advar Protocol: $0.0001762 – down by 81.75 per cent over last 24 hours
Pumpkin Inu: $0.00003005 – down by 69.98 per cent over last 24 hours
Xpose Protocol: $0.00006229 – down by 68.20 per cent over last 24 hours
SmartCoin (SMRT): $0.03182 – down by 62.94 per cent over last 24 hours
FUTUREXCRYPTO: $1.01 – down by 62.09 per cent over last 24 hours
IceSlush Finance: $1.15 – down by 61.51 per cent over last 24 hours
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