The top three cryptocurrencies have fallen by 15 percent in last one week — but Shiba Inu coins are thriving

Sep 14, 2021

By: BI India Bureau

In the aftermath of the crypto flash crash last week…

...The big wigs of the market are still struggling to recuperate

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Bitcoin has lost more than 14 percent of its value

It is currently trading at USD 45,267 — no substantial move as compared to yesterday

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Bitcoin’s nose dive seems to have been staved off by Microstrategy, the largest corporate holder of Bitcoin

The company bought up another 5,050 Bitcoin for $242.9 million at $48,099 apiece

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Ether, the coin which powers the Ethereum blockchain, is also trading flat

However, as compared to last week, it is down by more than 15 percent

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Ether’s current price is USD 3,306

Far from its hope of beating the USD 4,000 threshold during the last bull run

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The third biggest cryptocurrency, Cardano, is also down by more than 15 percent

Its price is in the red at USD 2.41

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Cardano’s dip comes despite its Alonzo update going live

The change allows developers to now mint smart contracts, like NFTs, on the blockchain

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Meanwhile, Shiba Inu based cryptocurrencies are surging by over 400 percent

Shiba Floki, Super Floki and others seem to be flying high on Elon Musk’s tweet about his new pet

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Litecoin too saw some action on reports of a partnership with Walmart

The company later denied the development, calling the press release ‘fake’

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Litecoin’s initial surge of over 20 percent eventually tapered out

The cryptocurrency is currently trading at USD 178.65, averaging out at gains of 1.27 percent in the last 24 hours

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Binance Coin, the cryptocurrency behind the biggest crypto exchange in the world, is even worse off

It has lost nearly 20 percent of its value in the past one week

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Binance Coin is currently trading at USD 401.75

The price has barely moved in the last 24 hours

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Ripple’s XRP is also trading flat

It’s trading at USD 1.08 — down 21 percent in the last one week

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Dogecoin continues its red run, down by 2 percent today

Trading at USD 0.2367, the cryptocurrency plummeted by 22 percent in the last one week

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The only two cryptocurrencies that seemed to have bucked the trend are Solana and Polkadot

Solana is in the green, up by over 6 percent in the last 24 hours at a price of USD 167.54

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As compared to last week, Solana’s value is down by 2.65 percent

But the dip relatively minimal compared to its peers

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After Polkadot’s bull run yesterday, it’s price is now stabilised at USD 35.35

The cryptocurrency is up by nearly 2 percent as compared to last week

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These are top cryptocurrencies by volume according to CoinMarketCap.

Prices updated as of 9.30 am IST and may change over the course of the day.

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