SHIB, PEPE Post Major Daily Gains, BTC Price Recovers From Sub-$63K Dip (Market Watch)

Bitcoin’s price took a turn for the worse earlier today by dropping below $62,800 but has managed to recover all losses and sits close to $64,000 now.

Some altcoins, such as DOGE, TON, and ADA, have posted impressive gains over the past day, but SHIB and PEPE stand in a league of their own.

BTC Recovers From Dip Below $63K

The primary cryptocurrency skyrocketed at the end of last week after the US Fed reduced the key interest rates for the first time in over four years, from under $58,000 to over $60,000, and hasn’t looked back since.

The bulls took it to $64,000 on Friday morning and even further this week. As reported before, the asset jumped to $64,800 on a couple of occasions, with the latest transpiring yesterday. However, the beers managed to defend that level, and the subsequent rejection pushed BTC south to $62,750 (on Bitstamp) earlier today.

Nevertheless, the cryptocurrency bounced off and has added about a grand, currently trading close to $64,000 once again. These volatile moves came despite the growing net inflows in the spot Bitcoin ETFs.

This means that its market capitalization stands at a familiar ground of $1.260 trillion, but its dominance over the alts has taken another minor hit and is down to 53.7% on CG.

Bitcoin/Price/Chart 26.09.2024. Source: TradingView

SHIB, PEPE Shoot Up

When it comes down to daily gains from the larger-cap alts, Shiba Inu takes the main stage with a massive 13% surge. The popular meme coin has risen to $0,000017, and you can find out more about its price increase here.

Another rep of the meme realms, PEPE, follows suit with a 7% jump that has driven it to $0.000009. Their leader, DOGE, has gained over 4% in the past day. The other notable performers include TON, ADA, DOT, and NEAR.

The rest of the larger-cap alts are a lot calmer, with minor losses from ETH, BNB, XRP, and LINK.

The total crypto market cap has increased slightly once again and is now up to $2.350 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto