Ether Hits All-Time High, Bitcoin Recovers, Dogecoin Gains, Shiba Inu Slips 20%

Cryptocurrencies Bitcoin, Ether, and Dogecoin gained on Friday, while Shiba Inu, which has been putting strong performance since past few sessions, plunged over 20 percent.

Ether, the world’s second-largest cryptocurrency, hit all-time high on Friday, a little over a week after larger rival Bitcoin set its own record.

The virtual currency, which is linked to ethereum blockchain network, rose as much as 2.6 percent to $4,400 in Asian hours, breaching the previous top of $4,380 set May 12.  Ether is up over 60 percent since its late September fall.

Bitcoin was trading slightly higher, after Thursday’s fall, at $60,931.39 on crypto exchange CoinDesk at 11.24 am. The virtual currency had hit a high of  $62,376.60 on Friday, gaining more than 50 percent since late September.

Bitcoin prices had dropped below $60,000 (nearly Rs 45 lakh) mark for the first time in weeks on Thursday.

Bitcoin had fell to a week low on Wednesday after investors’ interest in Bitcoin Futures-linked exchange-traded funds (ETF) began fall.

Among the biggest recent movers in cryptocurrencies, however, is meme-based cryptocurrency shiba inu whose price has rocketed nearly 160 percent this week, and is now the world’s eighth-largest token. However, Shiba Inu plunged more than 20 percent on Friday.

According to a Reuters report, Shiba inu is a spinoff of dogecoin, itself born as a satire of a cryptocurrency frenzy in 2013, and has barely any practical use.

meme crypto dogecoin.

With agency inputs

(Edited by : Bivekananda Biswas)

First Published: IST

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