Shiba Inu explodes by 11 %, Bitcoin stagnates $ 23,000 (Weekend Watch)

Shiba Inu explodes by 11 %, Bitcoin stagnates $ 23,000 (Weekend Watch)

Bitcoin was quite volatile after the US Federal Reserve announced the latest interest rate increase, which ultimately led to a new 5-month high. Since then, however, the asset has calmed down at around $ 23,000.

Several old coins have exceeded it in the last 24 hours, including Shiba Inu, which has risen in two digits.

Bitcoin falls back to $ 23,000

Although BTC lost something at the end of January, it was still well in the green area and has recorded its best month since October 2021 with growth of around 40 %. February started calmer, with cryptocurrency being less than $ 23,000.

All eyes were directed to the Federal Reserve on February 1, when it completed their first FOMC session of the year and increased the key interest rates by 25 basis points. In contrast to previous increases, Bitcoin did not react initially and later simply fell to $ 22,800

The bulls, however, rose in the following hours and pressed the asset to the north, won at one point over $ 1,500 and recorded the highest price since mid -August.

BTC could not move upwards and fell back to around $ 23,000, where it is currently also.

Its market capitalization is still around $ 450 billion, but its dominance compared to the Alts has decreased by about 1 % to 41.6 % last week.

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Shib conquers the main stage

Most old coins have recorded more impressive profits in the last 24 hours, led by Shiba Inu. The second largest Memecoin has increased by almost 11 % daily and has reached $ 0.000014. Next comes OKB, which is over $ 41 after an increase of 5 %.

The native cryptocurrency of polygon has increased by 3.5 % and is just over $ 1.2. Ethereum, Binance Coincardano, Dogecoin, Solana, Polkadot, Litecoin and Avalanche are now also slightly in the green. Ripple is one of the few exceptions from the larger caps and records a daily decline of 1 %.

Nevertheless, the cumulative market capitalization of all crypto-assets has increased around $ 10 billion a day and is up to $ 1.080 trillion.

Overview of the cryptocurrency market. Quantify crypto