Elon Musk gives Dogecoin a boost but dampens Shiba Inu’s meteoric rise

Oct 25, 2021 By: BI India Bureau

Dogecoin is the only cryptocurrency clearly in the green on October 25

The cryptocurrency is up by 10.22 percent with a price of $0.2749 Credit: Business Insider India

The surge in its value comes after tech billionaire Elon Musk declared…

His plans to become the first Dogecoin trillionaire Credit: Canva

On the other hand, Musk managed to enrage Shiba Inu holders…

The SHIB token was having a stellar weekend

The cryptocurrency jumped by a record 50 percent Credit: Canva

Until, Musk unveiled that doesn’t own any SHIB tokens

And, thus, began the nose dive Credit: Insider

Shiba Inu is still in the green

But only by 10 percent in the last 24 hours Credit: Canva

Lesson for the SHIB team:

Don’t ask questions you’re not ready to hear the answers for Credit: Canva

Aside from the drama around these two meme coins

The global crypto market is still in ‘correction’ mode after last week’s rally Credit: Business Insider India

On top of the charts, Bitcoin bulls are trying to keep the cryptocurrency above $60,000

It is currently trading at $61,963, up by 1.25 percent after dipping over the weekend Credit: Business Insider India

Ethereum too is trying to hold onto the $4,000 level

It is currently valued at $4,130, down by 0.29 percent in the last 24 hours Credit: Business Insider India

Binance Coin is at $479.71

The token is down by 0.96 percent since yesterday Credit: Canva

Cardano, unable to climb back to third, is priced at $2.13

It has slipped by 1.23 percent in the last 24 hours Credit: Business Insider India

Solana is also surprisingly quiet at $200

It is only up by 1.57 percent as compared to yesterday Credit: Canva

Ripple’s XRP at $1.09 amid regulatory uncertainty

It’s up by 0.13 percent in the last 24 hours Credit: Canva

Polkadot is priced at $43.29

The interoperability coin is down by 1.46 percent Credit: Business Insider India

Disclaimer

These are the top cryptocurrencies by volume according to CoinMarketCap | Prices updated as of October 25, 9 am IST and may change over the course of the day Credit: Canva