Altcoin
BTC Backtracks To $102K, Meme Coins Mimic Dip
Cryptocurrency Prices Today, January 23: In a riveting turn of events, the broader crypto landscape appears to have encountered significant volatility once again. Notably, Bitcoin (BTC) price reversed recent gains, slipping back to the $102K price level on Thursday, whilst other top cryptos mainly followed with a waning movement. Further, renowned meme coins Dogecoin (DOGE), Shiba Inu (SHIB), Pepe Coin (PEPE), and Official Trump (TRUMP), among others, have also witnessed a slumping intraday action.
Moreover, the global crypto market cap dropped nearly 3% from yesterday, reaching $4.54 trillion. Traders also appear to be cautious amid the recent volatility, as indicated by a 28.65% decrease in the global cryptocurrency market volume. So, let’s closely gauge in on some of the most renowned cryptocurrencies and how they are delivering across the market today.
Cryptocurrency Prices Today: BTC & Top Crypto Wane, Meme Coins Follow
Against the backdrop of the broader market trend, BTC price has lost nearly 3% of its value today. Further, Ethereum (ETH), XRP, and Solana (SOL) have also tanked 1%-3%. DOGE, SHIB, TRUMP, and PEPE cracked 3%-9% intraday. As a result, traders and investors are on their toes, with the market’s waning action contrasting sentiments of a rally post-Donald Trump’s presidential inauguration.
Bitcoin Price Slips To $102K In Tandem With Broader Cryptocurrency Prices Today
As of press time, BTC price witnessed a nearly 3% decrease in value and exchanged hands at $102.890. The coin’s intraday low and high were $102,067.45 and $105,908.98, respectively. It’s noteworthy that the current waning movement aligns with $95.62 million worth of outflows in Bitcoin ETFs as January 22, excluding BlackRock data.
Further, in light of the recent price volatility, speculations surrounding Trump’s inauguration being a ‘sell the news’ event have surfaced, with market watchers being apprehensive. However, it’s noteworthy that Santiment data spotlighted over 1000 BTC accumulated amid the recent market turbulence, underscoring the potential for further gains ahead.
Ethereum Price Cracks Over 3%
ETH price lost over 3% of its value in the past 24 hours and is currently trading at $3,224. The cryptocurrency’s 24-hour low and high were $3,203.32 and $3,338.88, respectively. Notably, even Ethereum’s slumping action aligns with $8,46 million worth of outflows in ETH ETFs as of January 22, excluding BlackRock data. Traders also reacted negatively to the price movements, as indicated by an intraday trading volume dip of 25% for the asset.
XRP Price Holds $3
Despite a nearly 1% drop in its value, XRP price showcased resiliency, sitting at $3.15. The Ripple-backed crypto’s 24-hour low and high were $3.12 and $3.27, respectively. Notably, the crypto’s current waning action mirrors the broader crypto market trend today. However, in the wake of soaring market optimism amid ETF-related developments and reduced market supply, an XRP price analysis by CoinGape reveals that a $5 breakout may be possible.
Solana Price Falls Over 2%
SOL price witnessed a downfall of over 2% in the past 24 hours and is currently trading at $248.48. The coin’s 24-hour low and high were $246.50 and $271.53, respectively. Solana’s trading volume dropped over 3% intraday. However, with Coinbase CEO Brian Armstrong aiming to offer ‘tier 1 support’ to the Solana network, market sentiments about future movements remain optimistic.
Meme Cryptocurrency Prices Today
DOGE price tanked nearly 6% intraday to reach $0.3518. Further, SHIB plunged 3% to reach $0.00002012. Simultaneously, the TRUMP token’s price plummeted nearly 9% in value to reach $37.40. The meme crypto landscape has primarily mimicked the broader crypto market trend.
Top Cryptocurrency Gainer Prices Today
XDC Network (XDC)
Price: $0.1259
24-hour Gains: +5%
Worldcoin (WLD)
Price: $2.22
24-hour Gains: +4%
Pudgy Penguins (PENGU)
Price: $0.02484
24-hour Gains: +3%
GateToken (GT)
Price: $22.35
24-hour Gains: +3%
Top Cryptocurrency Loser Prices Today
ai16z (AI16Z)
Price: $0.9456
24-hour Loss: -20%
Official Melania Meme (MELANIA)
Price:$3.38
24-hour Loss: -14%
Fartcoin (FARTCOIN)
Price: $1.39
24-hour Loss: -14%
Jupiter (JUP)
Price: $0.7732
24-hour Loss: -11%
Overall, despite the broader market’s volatile movement and cryptocurrency prices taking a hit today, long-term prospects remain bullish. Renowned crypto market enthusiast ‘Ash Crypto’ has recently posted on X, projecting market optimism on future movements. Intriguingly, the analyst spotlights Eric Trump’s recent bullish comments on markets, crypto, and technology in the U.S. In light of this saga and Donald Trump taking office, the analyst states, “Strategic Bitcoin reserve is coming.” Further, he even reveals that a “Mega Altseason is coming,” sparking bullish sentiments on future price movements.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto expert Egrag Crypto has again predicted that the XRP price could rally to as high as $27. The analyst has also revealed the exact timeline for when the altcoin could record this massive price surge.
Expert Reveals Time For XRP Price To Hit $27
In an X post, Egrag Crypto asserted that the XRP price can hit $27 in 60 days. The expert remarked that historical patterns indicate that the altcoin can reach this target within this timeframe.
Based on this price prediction, XRP could reach this $27 target by June, marking a 1,250% gain for Ripple’s native crypto. The expert’s accompanying chart showed that he was alluding to the 2017 bull run as to why the altcoin could record such a parabolic rally.
In 2017, XRP recorded a historic gain of over 60,000% as it rallied to its current all-time high (ATH) of $3.8 the following year. As such, based on history, a 1,250% increase is nothing for the altcoin.
In the meantime, the XRP price still boasts a bearish outlook thanks to the sentiment in the broader crypto market. As CoinGape reported, Ripple’s coin could drop to the next major support levels at $1.79 and $1.56 if it fails to hold above $2.03.
Decision Time For The Altcoin
In an X post, crypto analyst CasiTrades stated that it is decision time for the XRP price. She noted that the altcoin is showing strength with a bounce right back to the first key test at $2.17. She added that this is the resistance level she wants to see flip into support, as it might be the “most important price of the week.”
The analyst stated that XRP must reclaim this level to build momentum. She added that the $2 level remains a valid target if the $2.17 level rejects. Meanwhile, CasiTrades revealed that $2.70, $3.05, and $3.80 are the major resistance zones once the upward trend is confirmed.
The analyst also mentioned that the XRP price is now fully inside the Fibonacci Time Zone 3, which spans most of April. She affirmed that this is the breakout window market participants have been preparing for and that all signs point to a macro wave.
CasiTrades affirmed that the structure is clean. The RSI divergence has confirmed the bottom, while the subwaves are aligning well with the larger targets. If the next leg pushes XRP back above $2.17 with momentum, she claimed that market participants may finally see obvious signs of Wave 3. Interestingly, the analyst added that if the altcoin clears $2.70 this week, it may break the $1,000 price extension.
For now, investors may remain cautious, especially seeing how XRP fell after the PMI and JOLTS data release earlier today. Donald Trump is also set to announce reciprocal tariffs tomorrow, which could spark a massive price crash.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
A recent Binance update has triggered massive liquidations while sending Solana memecoin ACT into a steep correction. At first, pundits blamed market maker Wintermute for the jarring declines but Binance’s update to leverage and margin tiers appears to be the culprit.
Several Altcoins on Binance Suffer Massive Corrections
According to an X post, several altcoins listed on Binance took a major hit, dropping by double-digit percentages. The hardest hit of the lot was Solana memecoin ACT, experiencing a sudden drop of over 50% in 30 minutes.
Other altcoins including DEXE and DF equally recorded steep declines of 23% and 16% respectively in the same window. The price slump left traders scratching their heads but a consensus formed that sizable sell orders were behind the declines.
“The sudden dips were triggered by large sell orders executed in a short time frame, leading to a significant surge in spot trading volume,” said one pundit.
Others turned to market maker Wintermute as the trigger for the selloff. However, Wintermute CEO Evgeny Gaevoy denied responsibility while noting that the market maker reacted “post move.”
The decline comes amid a broader market recovery with several cryptocurrencies including Compound (COMP) gaining 70%.
What Triggered The 50% Decline For Solana Meme Coin
A Binance update on leverage and margin tiers on specific tokens like ACT triggered the massive declines. According to an April 1 announcement, the top exchange has updated the margin tiers of several perpetual contracts, noting that existing positions will be affected.
Following the move, one ACT whale got liquidated for $3.79 million at $0.1877, triggering a broad selloff. Former FTX community manager Benson Sun noted that traders had less than 3 hours to respond to the change, criticizing Binance for the move.
“Before changing the rules, Binance should have evaluated how many positions would be closed,” said Sun. “If there are market makers with large positions, they should have notified them in advance.”
Within hours of MUBARAK’s listing, the memecoin tumbled by 40% with Binance CEO Changpeng Zhao downplaying the impact of a listing on prices. Binance has drawn criticism in recent days following its exclusion of Pi Network from its Vote To List initiative.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
A crypto market crash looks imminent, with Bitcoin, Ethereum, XRP, and Dogecoin witnessing notable declines. This price crash happened following the release of weak manufacturing PMI and JOLTS data, which provides a bearish outlook for the market.
Crypto Market Crash: BTC, ETH, XRP, & DOGE Decline
CoinMarketCap data shows that a crypto market crash could be on the horizon, with the Bitcoin price sharply dropping below $83,000 from a daily high of around $84,400. Altcoins such as Ethereum, XRP, and DOGE also witnessed sharp declines.
This market crash occurred following the release of weak ISM manufacturing PMI and JOLTS data. The March PMI data dropped to 49, below expectations of 49.5 and lower than the 50 recorded in February.
The US JOLTS job openings for February came in at 7.568 million, below the expected 7.690 million and lower than the 7.762 million recorded in January. These data add to several macro fundamentals that paint a bearish outlook for the market.
This crypto market crash could persist, with China, Japan, and South Korea agreeing to respond to Donald Trump’s proposed tariffs. Trump is set to announce a number of reciprocal tariffs tomorrow, which could significantly harm the market as it sets off a trade war between the US and other nations.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Analyst Reveals ‘Worst Case Scenario’ With Head And Shoulders Formation
BeInCrypto US Morning Briefing: Standard Chartered and Bitcoin
SUI Price Stalls After Major $147 Million Token Unlock
Bitcoin Could Serve as Inflation Hedge or Tech Stock, Say Experts
Circle Files for IPO
Solana Faces Resistance While ETH Sees DEX Volume Boost
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Market20 hours agoCFTC’s Crypto Market Overhaul Under New Chair Brian Quintenz
-
Altcoin13 hours agoWill XRP, SOL, ADA Make the List?
-
Altcoin20 hours agoA Make or Break Situation As Ripple Crypto Flirts Around $2
-
Market19 hours agoXRP Bulls Fight Back—Is a Major Move Coming?
-
Market18 hours agoIs CZ’s April Fool’s Joke a Crypto Reality or Just Fun?
-
Market17 hours agoBitcoin Price Battles Key Hurdles—Is a Breakout Still Possible?
-
Bitcoin15 hours agoBig Bitcoin Buy Coming? Saylor Drops a Hint as Strategy Shifts
-
Market22 hours agoEthereum Price Faces a Tough Test—Can It Clear the Hurdle?
✓ Share: