Cryptocurrency Price Today: Bitcoin Remains Below $30,000, Shiba Inu Becomes Biggest Loser

Bitcoin, the world’s oldest and most valued crypto, continued to trade sideways and remained below $30,000 over the weekend. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — saw a mix of minor dips and gains across the board. The market fear and greed index stood at neutral, with a score of 50 (out of 100). The XDC Network (XDC) token emerged to be the biggest gainer, with a 24-hour jump of nearly 18 percent. Memecoin Shiba Inu (SHIB), on the other hand, turned out to be the biggest loser, with a 24-hour dip of over 5 percent. 

The global crypto market cap stood at $1.16 trillion at the time of writing, registering a 24-hour gain of 0.21 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $29,122.43, registering a 24-hour gain of 0.35 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 24.96 lakh.

Ethereum (ETH) Price Today

ETH price stood at $1,837.34 marking a 24-hour gain of 0.27 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.57 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour dip of 0.76 percent, as per CoinMarketCap data, currently priced at $0.0753. As per WazirX, Dogecoin price in India stood at Rs 6.37.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour loss of 0.16 percent. At the time of writing, it was trading at $83.10. LTC price in India stood at Rs 7,002.88.

Ripple (XRP) Price Today

XRP price stood at $0.6253, seeing a 24-hour loss of 1.43 percent. As per WazirX, Ripple price stood at Rs 54.

Solana (SOL) Price Today

Solana price stood at $23.39, marking a 24-hour gain of 2.22 percent. As per WazirX, SOL price in India stood at Rs 2,015.74. 

Top Crypto Gainers Today (August 7)

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

XDC Network (XDC)

Price: $0.07372
24-hour gain: 18.20 percent

Dash (DASH)

Price: $33.24
24-hour gain: 6.84 percent

Basic Attention Token (BAT)

Price: $0.216
24-hour gain: 3.60 percent

Hedera (HBAR)

Price: $0.0558
24-hour gain: 3.35 percent

Algorand (ALGO)

Price: $0.1106
24-hour gain: 3.18 percent

Top Crypto Losers Today (August 7)

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

Shiba Inu (SHIB)

Price: $0.000009339
24-hour loss: 5.17 percent

Gala (GALA)

Price: $0.02384
24-hour loss: 4.62 percent

Theta Network (THETA)

Price: $0.7278
24-hour loss: 2.75 percent

Arweave (AR)

Price: $5.24
24-hour loss: 2.46 percent

Uniswap (UNI)

Price: $5.98
24-hour loss: 2.18 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin entered the new week trading above $29,000, boosted by increased on-chain demand indicated by new address creation. Despite the non-farm payroll report’s negligible effect on its price, the market anticipates potential shifts with the release of July’s CPI reports from US and China. Meanwhile, XDC sees a remarkable 15 percent price surge, while Ethereum maintains its $1,800 to $1,850 trading range.”

Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “The crypto market has been range-bound over the weekend, with a market capitalisation of just over $1.2 trillion, up 0.4 percent in the last 24 hours. The crypto fear and greed index continues to be in the neutral zone but fell by a point over the weekend and is currently at 49/100. The market seems to be waiting for new signals which will determine future price action.”

Rajagopal Menon, Vice President, WazirX, offered his take, “Bitcoin tantalisingly approaches the $30,000 resistance level, fueling excitement among traders and investors for a potential bullish breakthrough. The cryptocurrency’s recent price surge has generated optimism in the market, but uncertainty looms as the long-awaited Bitcoin ETF approval remains pending. Market participants eagerly anticipate the ETF’s introduction, as it could potentially unleash a new wave of institutional investment, further solidifying Bitcoin’s position in the financial landscape. On WazirX, Orchid (OXT) and Pendle (PENDLE) have been the top gainers in the last 24 hours.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin is in a tight trading range from $29,000 to $30,000 showing a bearish trend, with RSI and MACD indicating a further decline. SHIB defies the bear market and claims top crypto status in various metrics. SHIB’s price rally continues, supported by increasing trading volume and decreasing supply on exchanges since April 2021. In particular, whale activity is surging, with SHIB in fourth place in holdings among the top 100 ETH whales. Despite a potential downside for Bitcoin towards $28,200 if support at $28,700 breaks, SHIB’s resistance and bullish sentiment remain prominent as it diverges from the overall market trend.”

Shivam Thakral, the CEO of BuyUCoin, said, “The past 24 hours have seen a tremendous increase in market activity in the world of cryptocurrencies. An outstanding 8.08 percent rise and a staggering total volume of $21.53 billion showing a thriving environment bursting with promise. With a decline of about 5 percent in the previous day, Ripple’s XRP topped the downward movement among large-cap digital assets. The market price of the fifth-largest cryptocurrency by market capitalization was 64 cents. The smart contracts platforms’ respective coins, ADA, SOL, and MATIC (Cardano, Solana, and Polygon) also reversed, giving up early gains. The native token of the Litecoin network, LTC, continued its downward trend that usually occurs around its quadrennial halving event and fell another 4.5 percent. ” 

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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.