17h10 โช
3
min reading โช by
Cryptocurrency prices are down today! After approaching $70,000 the previous day, Bitcoin has retreated to $68,000. Similarly, Ethereum has fallen below the $3,900 mark. Only a few altcoins like Solana and meme coins like Shiba Inu, BONK, and FLOKI stand out.
Bitcoin and the bearish trend of the crypto market
The total value of the crypto market has fallen by 0.58% to settle at $2.57 trillion on May 28. However, 24-hour trading volume has increased by 43.08% to $87.7 billion, indicating a resurgence in activity despite the downward trend.
Bitcoin remains very volatile in its accumulation phase. It has lost 1.29% to fall to $68,139.23 today, after ranging between $67,746.41 and $70,597.88. Despite this, its market capitalization still exceeds $1.3 trillion, with a daily volume of $28.17 billion. As for Ethereum, it has also seen significant fluctuations, reaching a low of $3,826.20 despite the recent approval of an Ether spot ETF. Currently, ETH is trading at $3,832.82, down 2.37%.
The unexpected rise of Meme currencies
While major cryptocurrencies like Bitcoin and Ethereum are faltering, one category stands out: meme coins! The Shiba Inu star has gained an additional 1.16% from yesterday, now at $0.00002488. But the real champions of the day are FLOKI and BONKthe two canine projects that top the charts.
It's a great demonstration of the resilience of these popular and fun cryptocurrencies! Their fan communities are not affected by market fluctuations. A lesson in optimism for investors tempted by pessimism?
In short, this tumultuous day illustrates the inherently volatile nature of the cryptocurrency market. Far from discouraging experienced investors, these ups and downs are opportunities to discover the best opportunities. Whether it's Bitcoin, major established altcoins, or trending meme coins, the key is to keep a cool head and follow a well thought out long term strategy.
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The world is evolving and adaptation is the best weapon to survive in this undulating universe. Basically a crypto community manager, I am interested in everything directly or indirectly related to blockchain and its derivatives. To share my experience and make known a field that fascinates me, there is nothing better than writing informative and relaxed articles at the same time.
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be taken as investment advice. Do your own research before making any investment decisions.
