Price: $0.39660 5.2615%
Market Cap: 58.26B 1.7661%
Volume (24h): 8.74B 0.4%
Dominance: 1.7661%
Price: $0.39660 5.2615%
Market Cap: 58.26B 1.7661%
Volume (24h): 8.74B 0.4%
Dominance: 1.7661% 1.7661%
  • Price: $0.39660 5.2615%
  • Market Cap: 58.26B 1.7661%
  • Volume (24h): 8.74B 0.4%
  • Dominance: 1.7661% 1.7661%
  • Price: $0.39660 5.2615%
Home > Information news > Global crypto market stabilizes as Solana meme coins bleed

Global crypto market stabilizes as Solana meme coins bleed

Release: 2024/02/01 06:12 Reading: 752

Original author:crypto.news

Original source:https://coinmarketcap.com/community/articles/65bab0155023da1d56b6f88b

The crypto market witnessed a day of mixed fortunes as the global market cap climbed back to $1.7 trillion, signaling a stabilization after a 3% drop yesterday. 

Notably, Bitcoin surged to $43,600, marking its highest point since last week, despite a mere 6% increase in trading volume over the past 24 hours. In contrast, Solana (SOL) experienced a notable decline, shedding nearly 5% of its value today. 

The market also saw significant volatility in XRP, which plummeted to $0.49, its lowest in a month. This drop was primarily attributed to speculations around a $113 million breach affecting Ripple. However, XRP rebounded following confirmation from Ripple Co-Founder Chris Larsen that the breach was limited to his personal XRP wallets.

You might also like: FTX aims for full customer repayment; halts revival efforts

The meme coin market faced a significant downturn, with the market cap falling by 2%. Solana-based meme coins such as BONK and dogwifhat (WIF) experienced over 6% losses. PEPE also dipped by over 10%, while Shiba Inu and Dogecoin showed some resilience to the market dip.

A peculiar correlation seems to be emerging between the broader crypto market and the meme coin sector. While the crypto market experienced a decline yesterday, the meme coin market was notably up. Today, the trend reversed, with the global market stabilizing and meme coins facing a downturn.

Read more: Bitcoin ETFs surge with $247m inflow as BTC nears $44k again

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.