"Shiba Inu's Rollercoaster Ride: From Meme Coin Frenzy to Forbes' Top 10 Crypto Pick"

1 min read
Source: CoinDesk
"Shiba Inu's Rollercoaster Ride: From Meme Coin Frenzy to Forbes' Top 10 Crypto Pick"
Photo: CoinDesk
TL;DR Summary

Dogecoin and Shiba Inu saw a decline in gains after a 25% rally last week, while Bitcoin remained above the $71,500 mark. XRP led the gains among major tokens, rising 10% in the past 24 hours. The CoinDesk 20 index rose 0.73%, and spot bitcoin ETFs crossed the $10 billion inflow mark for the first time since going live in January. Market observers warn of a potential sell-side liquidity crisis if spot bitcoin ETF inflows continue at the current rate. Additionally, the bitcoin options market showed a bullish sign for traders, but caution was expressed due to elevated funding rates and volatility.

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