SHIB Sees 5% Surge After Successful Shibarium Beta Launch, BTC Maintains $29K

July 29, 2023

Aside from SHIB, the leading gainers daily are QNT and MKR.

Bitcoin’s price performance is disappointing, but the commodity has stayed above $29,000 at least.

The cryptocurrencies are also in the green, with DOGE and SOL gaining up to 2%. SHIB has risen the highest among the top 20.

Bitcoin Remains At $29K

Regarding price performances, there have never been more exciting times in the crypto world. With a sharp decline at the beginning of the week, Bitcoin fell from over $30,000 to a monthly low of slightly under $29,000.

At this time, the bulls stepped in and drove the asset barely over that line. Little to no change was seen during the following days, and even the US Fed’s Wednesday interest rate hike fell to produce increased volatility as it had in the past.

BTC traded inside a narrow band between $29,000 and $29,500 for the whole business week except for a few hundred dollar pumps and dumps. Although its market cap has stayed below $570 billion, its authority over alternative coins has slightly decreased and is now only 48.1% on CMC.

Source: TradingView

5% SHIB Pumps

The alternative coins have similarly been unable to generate any significant moves in either direction over the past few days, despite being by nature more volatile. However, the charts since yesterday appear slightly more encouraging, with slight rises.

With less than 0.5% daily gains, Ethereum and XRP are trading at $1,870 and $0.7, respectively. To $0.078 and $25, Dogecoin and Solana have increased by slightly over 1%. While BNB, ADA, and LTC have logged negligible losses, Tron, MATIC, and Polkadot are all modestly in the green.

Following the release of the Shibarium beta version, Shiba Inu has had the most significant growth among the higher-cap alts. Quant increases daily by 7.5%, following the lead of the top 36.

Just over $1.180 trillion is the current total market capitalization of all cryptocurrencies.