Shiba Inu (SHIB) Explodes 15% Daily, Bitcoin (BTC) Maintains $68K (Market Watch)
SHIB and WIF are the top gainers from the larger-cap alts.
Bitcoin’s price has been on a wild ride in the past few days, first heading north to over $70,00 before it dumped to $67,000 a day later.
The altcoins have recovered some of yesterday’s losses, and most have turned green. SHIB and WIF lead the pack from the meme coin realm with massive double-digit surges.
BTC Reclaims and Calms at $68K
The largest cryptocurrency by market cap experienced a volatile five-day trading period last week after the news surrounding the eventual approval of spot Ethereum ETFs by the US SEC. The asset skyrocketed to a multi-week peak at the start of it of nearly $72,000, but it dumped to under $66,500 on Thursday – just hours before the SEC’s actual approval.

It regained some traction on Friday and during the weekend as its price went to $69,000. It retraced slightly on Monday before another leg up resulted in breaking above $70,000 for the first time in about a week.
Yet, the bulls failed to maintain this run and BTC dumped hard yesterday to just over $67,000. Still, bitcoin bounced off and neared $69,000 once more hours ago but was stopped there and now sits inches above $68,000.
Its market cap remains below $1.350 trillion, but its dominance over the alts has taken another minor hit and is down to 49.6%.
SHIB, WIF on a Roll
The meme coins have been among the top performers in the past 24 hours. SHIB is at the forefront of the massive surge, gaining 15% overnight. Moreover, SHIB surpassed Cardano to become the 11th largest cryptocurrency by market cap, as reported earlier.
WIF is the other massive gainer from the larger-cap alts. The asset has soared by 20% in a day and now trades close to $4.

SOL, TON, RNDR, and ATOM are with minor gains from the larger-cap alts, while ETH is down by 0.4% but still trades above $3,800.
The total crypto market cap has recovered $35 billion overnight and sits above $2.7 trillion on CG.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Decoding VitaDAO: A Paradigm Revolution in Decentralized Science

Mars Morning News | ETH returns to $3,000, extreme fear sentiment has passed
The Federal Reserve's Beige Book shows little change in U.S. economic activity, with increasing divergence in the consumer market. JPMorgan predicts a Fed rate cut in December. Nasdaq has applied to increase the position limit for BlackRock's Bitcoin ETF options. ETH has returned to $3,000, signaling a recovery in market sentiment. Hyperliquid has sparked controversy due to a token symbol change. Binance faces a $1 billion terrorism-related lawsuit. Securitize has received EU approval to operate a tokenization trading system. The Tether CEO responded to S&P's credit rating downgrade. Large Bitcoin holders are increasing deposits to exchanges. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively improved by the Mars AI model.

The central bank sets a major tone on stablecoins for the first time—where will the market go next?
The People's Bank of China held a meeting to crack down on virtual currency trading and speculation, clearly defining stablecoins as a form of virtual currency with risks of illegal financial activities, and emphasized the continued prohibition of all virtual currency-related businesses.

