SHIB Jumps 5% Following Shibarium Beta Launch, BTC Stands Still Above $29K (Weekend Watch)

SHIB Jumps 5% Following Shibarium Beta Launch, BTC Stands Still Above K (Weekend Watch)


Bitcoin’s price performance continues to be quite underwhelming, but the asset managed to sustain above $29,000 at least.

The altcoins are also slightly in the green, with gains of up to 2% from the likes of DOGE and SOL. SHIB has jumped the most from the top 20.

BTC Stalls Above $29K

It’s safe to say that there have been more exciting times in the crypto ecosystem when it comes down to price performances. Bitcoin started the week with a nosedive that drove it from over $30,000 to a monthly low of just under $29,000.

The bulls intervened at this point and pushed the asset to just above that line. The next several days saw little-to-no movements, and even the US Fed’s interest rate hike on Wednesday failed to deliver enhanced volatility as they did in the past.

Aside from a few hundred dollar pumps and dumps, BTC spent the whole business week in a tight range between $29,000 and $29,500. Its market capitalization has remained below $570 billion, but its dominance over the altcoins has taken another slight hit and is down to 48.1% on CMC.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

SHIB Pumps 5%

Although more volatile by nature, the alternative coins have also failed to produce any major moves in either direction in the past several days. The charts since yesterday, though, seem a bit more positive, with minor gains.

Ethereum and XRP have added less than 0.5% on a daily scale and trade above $1,870 and $0.7, respectively. Dogecoin and Solana have jumped by just over 1% to $0.078 and $25. Tron, MATIC, and Polkadot are also slightly in the green, while BNB, ADA, and LTC have charted insignificant losses.

Shiba Inu has increased the most from the larger-cap alts following the release of the Shibarium beta version. Quant follows suit from the top 36, with a 7.5% daily surge.

The total crypto market cap has remained relatively still at just over $1.180 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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Cryptocurrency charts by TradingView.


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