Cryptocurrency market last week: Shiba Inu went like a roller coaster ride, Solana got into the top 4 largest virtual currencies

Cryptocurrency market last week: Shiba Inu went like a roller coaster ride, Solana got into the top 4 largest virtual currencies

Last week, the cryptocurrency market marked the demise of SQUID, the rollercoaster days of Shiba Inu, and the rise of the emerging virtual currency Solana into the top four.

Investors are selling Shiba Inu

In the market, the price of Shiba Inu fell on the afternoon of the 4th According to data from CoinMarketCap, SHIB is trading at around $ 0.00005638 per coin. This decline has pulled Shiba Inu out of the top 10 largest cryptocurrencies.

It is not clear why the Shiba Inu was sold. However, in the past week, a transaction of more than 2.9 suddenly appeared on the market Billion USD Shiba Inu Coin and caught the attention of cryptocurrency investors.

In particular, according to information from Etherscan, whale wallets held more than 5 on November 2nd Billion USD Shiba Inu Coin made 4 transactions to transfer this digital currency to another wallet address. Each order moves more than 10,000 billion SHIB worth around 632 Million dollars.

In total, this anonymous investor transferred 2.9 Billion USD SHIB coin. These are just cryptocurrency transfers. This hidden “whale” wallet has not yet completed any Shiba Inu sales orders.

Currently, the price of Shiba Inu has rallied sharply at the end of the week, rising nearly 30% on November 5th and only falling 18% over the past week.

The virtual currency that followed the Squid Game rose 230,000% and then collapsed to almost 0

Much like Shiba Inu, the SQUID coin followed the squid game phenomenon and has recently become the memecoin with a breakthrough but rapid surge that caught the attention of investors.

Accordingly, the Coin Squid rose in the past week by more than 230,000% to 2,861.80 dollars, but then “evaporated” almost 100% on November 1st to only 0.5 US cents.

“The developers of Squid Game do not want to continue the project because we are extremely tired of the scams and are under stress,” posted the developers of the SQUID coin on the Telegram channel with more than 89,000 members.

The collapse of the SQUID coin also challenged many investors who had relied on the digital currency.

Bernhard is one of them. After reading some headlines about SQUID, he decided to invest all of his savings (VND 28,000). USD) in the SQUID and then the bitter fruit.

“The reason I rushed to buy SQUID coins is because Squid Game is very, very popular and this movie-based virtual currency will definitely be popular,” said Bernard, who now lives in Shanghai. “This is a tragedy. I don’t know how to get what I lost back.”

This person said he was the breadwinner for the family and was currently concerned about how to make a living.

In fact, it wasn’t just Mr. Bernard who suffered losses. Many other investors have also posted on Twitter that inflating the memecoins is nothing more than promoting them implicitly.

“Everyone is in a rush when it comes to investing in virtual currencies, sometimes feeling like they are in a state of FOMO (fear of missing out on momentum),” said Benard. The feeling of FOMO can often be seen in crypto traders investing in early-stage Bitcoin alternatives with a desire to get rich quick.

Bitcoin is slowing down, Ethereum is reaching a new high, Solana is entering the top 4 largest virtual currencies

On the morning of November 6th, Bitcoin is hovering at 61,100 USD, down slightly by 1% in the past week. Meanwhile, Ethereum is up more than 3% to 4,494. gone up USDafter a new high above 4,500. was achieved USD.

Binance Coin extends its strong rally by 16% last week to 608 USD.

It is noteworthy that Solana has increased by more than 21% to 240. has risen USD and entered the top 4 largest digital currencies in the world.

Dogecoin, although down almost 8% in the last week, has regained 9th place in the top 10 largest cryptocurrencies in the world.

Virtual currency market capitalization up VND 100 billion USD in last week at 2,720 Billion USD.

Top 11 largest digital coins

Vu Hao

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