Home » SHIB, BabyDoge and OKB Soar as Bitcoin Remains Calm Above $23K

SHIB, BabyDoge and OKB Soar as Bitcoin Remains Calm Above $23K

by Hans Lipper

This past weekend has been a relatively quiet one for Bitcoin, which is currently hovering around the $23,000 mark. However, some altcoins have seen more impressive gains, such as OKB and a few memecoins. Shiba Inu (SHIB) has seen a daily increase of over 10%, as well as a weekly gain of nearly 30%. BabyDoge Coin, a Dogecoin spin-off, has skyrocketed by around 150% over the same time period. OKX’s native cryptocurrency has also risen by 7% and tapped a high of nearly $45. Ethereum, Binance Coin, Ripple, Cardano, Dogecoin, and MATIC are all slightly in the red from the larger-cap alts, while Solana, Polkadot, and Avalanche have seen minor daily declines.

The total crypto market cap has increased by a few billion and is now close to $1.1 trillion. Bitcoin has been relatively calm since the US Federal Reserve announced a 25 basis point increase in key interest rates earlier this month. Initially, BTC remained around $23,000, but then dropped a few hundred dollars before shooting up to over $24,000. Bears then stepped in to push the asset back down, and it has since calmed around the $23,300 mark. Its market capitalization is still around $450 billion, and its dominance over the alts has dropped to 41.5%.

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