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In the last 24 hours, Shiba Inu's large transaction volume amounted to $52.87 million or 3.02 trillion SHIB in crypto terms, representing a 109.83% increase.Solana Breakout We've Been Waiting For, Etheruem Might Not See $2,500, Dogecoin Needs $400 Million to Move UpMeme coins gained over the weekend as social sentiment and risk-taking among crypto traders increased. Shiba Inu also surged, climbing for three days in a row, reaching a high of $0.00001884 on Oct. 6 before retreating.
Bitcoin fell as low as $62,000 late Monday after briefly touching $64,000, wiping out virtually all of its gains over the previous seven days. Major cryptocurrencies Solana , Ethereum , XRP and BNB plummeted over 4%, reversing Monday's gains. Shiba Inu also dipped, reversing earlier gains.The lack of fresh measures and the announcement of a new Chinese stimulus dashed hopes for a long-awaited American stimulus package, denting market sentiment.
Meanwhile, cryptocurrency traders continue to look to Federal Reserve meetings later this week for clues on further positioning. The agency is scheduled to disclose FOMC minutes as well as crucial economic data from August that show growth.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends.