While Bitcoin’s surge dominates the headlines, several altcoins, including Dogecoin (DOGE) and Shiba Inu (SHIB), are also witnessing substantial gains.
Dogecoin, renowned as the largest meme coin and holding the 10th position in digital assets by market cap, emerged as last week’s top gainer. It continues its positive trend, with nearly a 5% gain over the past 24 hours, currently trading at $0.08.
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Shiba Inu, a competitor to Dogecoin and another meme coin, has also experienced notable gains, rising by almost 6% in the last day. As the 19th largest cryptocurrency by market cap, Shiba Inu is currently valued at $0.00000888.
Meme coins, characterized by their volatility and connection to internet memes, received a boost recently. However, their moment seems to have passed, with new tokens emerging following the deaths of investor Charlie Munger and diplomat Henry Kissinger. Tokens like MUNGER and the Kissinger token have seen minimal activity, with MUNGER having less than $1,000 in volume in the past 24 hours.
Ethereum, the second-largest digital currency by market cap, has also seen positive movement, registering a gain of over 2% in the last day and trading at $2,208 per coin.
Read also: Why Bitcoin remains dominant over Ethereum (ETH)
While all eyes remain on Bitcoin, which continues to reach highs not seen since its crash in May 2022, renewed interest is driven by optimism regarding the potential approval of a spot Bitcoin exchange-traded product by the Securities and Exchange Commission after a decade. Despite a 12% surge in the past week, Bitcoin is still below its all-time high of $69,044 in November 2021, currently priced at $41,256 per coin.
Bitcoin Cash (BCH), a spin-off of Bitcoin, stands out as one of the top performers in the top 20 cryptocurrencies. With a 7.5% rise in the last 24 hours, BCH is currently trading at $244.28, according to CoinGecko. Over the past seven days, this altcoin, designed to be a faster and more cost-effective alternative to Bitcoin, has gained 8.5%.
