Cryptocurrency News: 5 Crypto Coins Have Gained 500% in 24 Hours

  • The worldwide cryptocurrency market has lately experienced a surge. According to CoinMarketCap statistics, the worldwide cryptocurrency market was worth $2.18 trillion at the time of writing, up 0.84 percent from the previous day
  • The cryptocurrency market and its investors have been flocking for Dogecoin and SHI(BA) since the business mogul and Tesla CEO revealed the name and, most recently, the debut of his new Shiba Inu puppy on Twitter
  • The Musk effect has been so powerful that Dogecoin has risen to the ninth position on CoinMarketCap with a price of $0.2442

The worldwide cryptocurrency market has lately experienced a surge. According to CoinMarketCap statistics, the worldwide cryptocurrency market was worth $2.18 trillion at the time of writing, up 0.84 percent from the previous day. The overall crypto market volume for the previous 24 hours was $99.11 billion, indicating a 9.47 percent drop. Having said that, numerous cryptocurrencies have been trading in the green and even rising to new highs during the previous few days.

For example, Dogecoin and SHI(BA) INU were two cryptocurrencies that significantly surged and witnessed a spike in the market this week, especially on Friday. Elon Musk was the driving force behind those currencies’ rise. It was musk’s dog, to be precise. The cryptocurrency market and its investors have been flocking for Dogecoin and SHI(BA) since the business mogul and Tesla CEO revealed the name and, most recently, the debut of his new Shiba Inu puppy on Twitter. At work, this was the well-known ‘Musk’ effect.

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The Musk effect has been so powerful that Dogecoin has risen to the ninth position on CoinMarketCap with a price of $0.2442. Though the coin was trading red at 3.01 percent over the previous day at the time of this publication, the move over the week was 1.91 percent up. SHI(BA) INU, meantime, surged 21% on Friday, according to data from Coinbase, as reported by Techstory. With this in mind, according to CoinMarketCap, there have been numerous underdog cryptocurrencies that have witnessed massive increases in the previous 24 hours. These cryptocurrencies have soared into the triple digits, with gains ranging from 200 percent to over 500 percent.