Bitcoin Trades Above $34,500 Level, Shiba Inu And Dogecoin Up Over 8%, Pepe Coin Skyrockets 27%

The cryptocurrency market traded in the green on Thursday as price of the world's two largest cryptocurrencies Bitcoin and Ethereum traded higher today. Bitcoin price was up 2.06% at $34,748.28 per token. At today's price, Bitcoin has a market capitalization of $678.52 Billion. Ethereum price gained 0.11% at $1,795.88 per token. At the time of writing this article, Ethereum commands a market capitalization of $215,934,371,983, according to CoinMarketCap data.

Bitcoin has risen sharply in the last couple of days. The reason behind the positive trend in Botcoin's price is strong buying of the cryptocurrency fuelled by the strengthening market sentiment in view of the speculation that BlackRock's spot Bitcoin exchange-traded fund (ETF) could probably be approved by the US Securities and Exchange Commission (SEC).

The global crypto market cap rose 1.16% to $1.27 Trillion. The total crypto market volume over the last 24 hours was down 33.18% at $50.36 Billion. The total volume in DeFi is currently $4.62 Billion, 9.18% of the total crypto market 24-hour volume. The volume of all stablecoins is now $45.35 Billion, which is 90.03% of the total crypto market 24-hour volume.

How are meme coins performing today?

Meme currencies traded higher today and the volume of popular meme coins including Dogecoin and Shiba Inu saw an astounding surge in trading volume. One must note that the trading volume generally suggests heightened interest in a particular asset, which can be due to various factors, such as an overall surge in the broader cryptocurrency market, market sentiment or external events.

Dogecoin: The price of Dogecoin soared 8.77% at $0.07209 per token on Thursday. Dogecoin has a market cap of $10.21 Billion.

Shiba Inu: Shiba Inu price skyrocketed 9.94% at $0.000008195 per token on Thursday. At this price, the meme currency Shiba Inu has a market cap of $4.83 Billion.

Pepe Coin: The price of Pepe Coin (PEPE) was up 27.03% at $0.000001196 per token today.

How Are Other Altcoins Performing Today?

XRP:

Ripple's XRP price was down 0.08% at $0.5544 on Thursday. XRP is ranked number 5 out of all 8,820 active cryptocurrencies listed on CoinMarketCap.

Cardano:

Cardano price gained 1.08% at $0.2841 per token at the time of writing this article.

Solana:

Solana price traded 4.45% higher at $32.49 per token on Thursday. Solana is the world's 7th largest cryptocurrency in terms of market cap.

Polkadot:

Polkadot price was up 2.38% at $4.31 per token at the time of writing this article. With a market cap of $5,438,590,575, Polkadot is the world's 15th largest cryptocurrency in terms of market cap.