Shiba Inu (SHIB) continues pumping while the rest of the market flatlines on the back of little to no volatily whatsoever.
Another day – another failure for Bitcoin to break away from its current range around $29,000. The primary cryptocurrency’s volatility has fallen to historic lows and the rest of the market doesn’t seem too exciting either.They say there’s never a dull moment in crypto, but if you’re mostly following the performance of large-cap coins throughout the past week, you can probably see that this can be a bit of an overstatement.
Bitcoin’s price has completely flatlined throughout the last few days, and the past 24 hours have made absolutely no exception, as seen in the chart below.BTC’s price made an attempt to push above $29,300 but was quickly reminded that it’s not its place and retraced back to where it’s trading for the past week – the $29,000 level.This is all you need not to miss any price action in the raging crypto markets.
Of course, it’s worth noting that periods like the current one don’t usually last long and are a precursor to a major move. We just have to see if it will be to the upside or the downside.The altcoin market has also remained largely flat through the day, with the majority of major cryptocurrencies being on the losing end, charting small declines below 1%. You can see that in the heatmap below.
The move is an extension of yesterday’s increase that came on the back of news from Binance. The world’s largest cryptocurrency exchange revealed that it will now support SHIB as collateral for loans. It’s interesting to see if this rally will continue or if SHIB will calm down and get in line with the rest of the market.
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