Bitcoin Takes a Dip As Pepe Coin and BONK Rise

The crypto prices today continue to surge, extending the positive trend witnessed throughout December. Meanwhile, this recent upward trajectory has catapulted major cryptocurrencies, including Bitcoin and Ethereum, to their highest levels in over a year, signaling a renewed investor appetite for riskier assets.

The recent upward momentum in the crypto prices finds support in a flurry of factors, with the Bitcoin Spot ETF speculations playing a pivotal role. Additionally, the reassuring comments from central bank officials have instilled confidence, leading market participants to anticipate a potential rate cut as early as March next year.

As of the latest data, the Bitcoin price plunged 1.18% in the last 24 hours, reaching $43,507.34, accompanied by a 4.19% surge in trading volume to $28.34 billion. The largest cryptocurrency by market cap recorded a 24-hour high of $44,042.59 and a low of $42,880.65, indicating the volatile sentiment in the crypto space.

Simultaneously, the Ethereum price, the second-largest cryptocurrency by market cap, maintained a steady upward trajectory, registering a 4.81% increase to trade at $2,374.98. Its trading volume over the past 24 hours experienced a notable uptick, rising by 35.97% to $15.75 billion, with a 24-hour high of $2,387.51.

Meanwhile, the XRP price rose 0.80% to $0.6493 during writing, and its trading volume dipped 11.24% to $1.8 billion. In a similar vein, the Solana price faced a 13.10% surge to $71.79, coupled with a 46.99% surge in trading volume to $3.68 billion.

Notably, the meme coins were mixed on December 8, with the Dogecoin price declining by 1.17% to $0.09668 in the last 24 hours, accompanied by a 55% dip in 24-hour volume to $1.14 billion. In contrast, the Shiba Inu price experienced a modest uptick of 0.84% to $0.000009902, with its volume falling 60.58% to $274.04 million.

The collective upswing in crypto prices initiated a broader market rally, propelling the global crypto market cap by 0.73% in the last 24 hours to $1.61 trillion. Concurrently, the total crypto market volume witnessed a 4.55% jump to $74.26 billion. However, investors are advised to exercise caution as the crypto market fear and greed index stands at 81, indicating a prevailing sentiment of “extreme greed” in the market.

Also Read: Solana (SOL) Price Up 15% Shooting Past $70, Next Target $100?

The Top 4 Cryptos For Today Are:

Pepe Coin Rises 1%

The Pepe Coin price advanced 1.40% on December 8 and traded at $0.000001528, while its trading volume over the last 24 hours fell 30.59% to $206.35 million. Meanwhile, the crypto has witnessed some notable surge in recent days, as evidenced by its price jump. Notably, the meme coin’s price noted gains of 39% over the last seven days.

Bonk (BONK) Advances 39%

Another popular dog-themed meme coin, the Bonk (BONK) crypto has gained significant traction from investors recently. Meanwhile, the BONK price was up 38.68% and traded at $0.0000113 during writing, while its trading volume over the last 24 hours skyrocketed 115.88% to $201.77 million.

Optimism (OP) Jumps 23%

The Optimism crypto was among the top percentage movers in the crypto market on Friday, December 8, reflecting the bullish sentiment witnessed in the broader market. Meanwhile, the Optimism price increased by 22.90% over the last 24 hours to $2.16, while its trading volume rocketed 266.64% to $620.52 million.

Gnosis (GNO) Adds 15%

The Gnosis crypto was another top percentage gainer in the digital asset space on Friday, indicating a growing interest of the investors towards the crypto. Meanwhile, as of writing, the Gnosis price advanced 15.34% to $231.83, and its trading volume rose 215.6% to $50.68 million.

Also Read: ETH Price Hits 18-Month High, Ethereum Dencun Hardfork Coming By January 2024

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Rupam, a seasoned professional with 3 years in the financial market, has honed his skills as a meticulous research analyst and insightful journalist. He finds joy in exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor and crypto journalist at Coingape, Rupam’s expertise goes beyond conventional boundaries. His contributions encompass breaking stories, delving into AI-related developments, providing real-time crypto market updates, and presenting insightful economic news. Rupam’s journey is marked by a passion for unraveling the intricacies of finance and delivering impactful stories that resonate with a diverse audience.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.