btc
Bitcoin (BTC)
$103,311.00 -3.06%
Bitcoin price
eth
Ethereum (ETH)
$3,283.10 -2.21%
Ethereum price
bnb
BNB (BNB)
$686.28 -0.62%
BNB price
sol
Solana (SOL)
$238.47 -6.99%
Solana price
xrp
XRP (XRP)
$3.11 -6.3%
XRP price
shib
Shiba Inu (SHIB)
$0.0000206 -1.53%
Shiba Inu price
pepe
Pepe (PEPE)
$0.0000155 -5.35%
Pepe price
bonk
Bonk (BONK)
$0.0000326 1.81%
Bonk price
wif
dogwifhat (WIF)
$1.41 -4.66%
dogwifhat price
popcat
Popcat (POPCAT)
$0.45 1.64%
Popcat price
btc
Bitcoin (BTC)
$103,311.00 -3.06%
Bitcoin price
eth
Ethereum (ETH)
$3,283.10 -2.21%
Ethereum price
bnb
BNB (BNB)
$686.28 -0.62%
BNB price
sol
Solana (SOL)
$238.47 -6.99%
Solana price
xrp
XRP (XRP)
$3.11 -6.3%
XRP price
shib
Shiba Inu (SHIB)
$0.0000206 -1.53%
Shiba Inu price
pepe
Pepe (PEPE)
$0.0000155 -5.35%
Pepe price
bonk
Bonk (BONK)
$0.0000326 1.81%
Bonk price
wif
dogwifhat (WIF)
$1.41 -4.66%
dogwifhat price
popcat
Popcat (POPCAT)
$0.45 1.64%
Popcat price
btc
Bitcoin (BTC)
$103,311.00 -3.06%
Bitcoin price
eth
Ethereum (ETH)
$3,283.10 -2.21%
Ethereum price
bnb
BNB (BNB)
$686.28 -0.62%
BNB price
sol
Solana (SOL)
$238.47 -6.99%
Solana price
xrp
XRP (XRP)
$3.11 -6.3%
XRP price
shib
Shiba Inu (SHIB)
$0.0000206 -1.53%
Shiba Inu price
pepe
Pepe (PEPE)
$0.0000155 -5.35%
Pepe price
bonk
Bonk (BONK)
$0.0000326 1.81%
Bonk price
wif
dogwifhat (WIF)
$1.41 -4.66%
dogwifhat price
popcat
Popcat (POPCAT)
$0.45 1.64%
Popcat price

Global crypto market stabilizes as Solana meme coins bleed

global-crypto-market-stabilizes-as-solana-meme-coins-bleed
Edited by
News
Global crypto market stabilizes as Solana meme coins bleed

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.

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.

Solana meme coins
All Solana-based meme coins in red on January 31st | Source: CoinGecko

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.