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As the week draws to a close, uncertainty continues in the cryptocurrency market. Over the past two weeks, the market has suffered significantly, with Bitcoin’s price dropping from $70,000 to $58,500, causing a major shock. Although BTC’s price recovered to over $61,000, the rest of the market wasn’t as fortunate. So, what is the current situation for high-volume altcoins like Shiba Inu, Floki, and XRP?
Shiba Coin TL Overview
DOGE had gained value over the years following its emergence. After DOGE initiated the meme coin craze, another meme coin that marked 2021 was SHIB, the second-largest meme coin by volume. However, things don’t look good for SHIB today. After a 1.22% drop in the last 24 hours, SHIB’s price is at $0.00001689.
SHIB shows a 6.75% decline over the past 7 days, and a 40% drop over the past 30 days. Despite continuous burns, investors are curious when SHIB’s price will return to ATH levels, as market and trading volumes don’t look promising.
In the SHIB/TRY pair, the price is observed to be 0.00055750 TRY.
As of the time of writing, SHIB’s market cap is below $10 billion, at $9.6 billion, while the 24-hour trading volume is just over $100 million after a 58% drop.
FLOKI Coin TL Value
Meanwhile, attention was on another high-volume altcoin, FLOKI. Support from major investment firms and recent burns triggered a significant rise in FLOKI’s price in the past period.
FLOKI has seen a 574% increase over the past year, indicating much higher levels before the recent declines. The price of FLOKI in the TRY pair is 0.005562 TRY.
As of the time of writing, FLOKI’s price is at $0.0001635 after a 0.79% drop in the last 24 hours. FLOKI’s market cap is $1.5 billion, while the 24-hour trading volume is $121 million after a 24% drop.
XRP Coin Price Overview
Unlike other projects, XRP, which is at the center of the Ripple and SEC case, saw a nearly 0.5% increase in the last 24 hours. After the rise, the price reached $0.4728.
The most interesting aspect of XRP is that despite all the market activity, it has only seen a 1% increase over the past year.
Amid all this, XRP’s market cap is $26 billion, while its trading volume, indicating a lack of interest in the market, has dropped by 57% to $398 million.
