The cryptocurrency market remains under extremely severe pressure, with some of the leading altcoins plunging by more than 10% over the last 24 hours
Shiba Inu
has careened 13.32% over the last 24 hours, according to data provided by CoinMarketCap. The token is currently trading at $0.00002373 on the Binance exchange. Rival joke cryptocurrency Dogecoin has also recorded a double-digit loss over the same period of time, dropping by about 10%. Despite recent positive developments in the Ripple v. SEC case that allowed the XRP cryptocurrency to buck the trend for a small period of time, the cryptocurrency has also cracked under pressure, tanking by nearly 14%.
Bitcoin is currently sitting at the $36,800 level on major spot exchanges, shedding roughly 6% of its value over the past 24 hours. The crypto king is performing better than the top altcoins, which resulted in a slight increase in its market dominance. Earlier today, the bellwether cryptocurrency dipped to a multi-week low of $36,368 on the Bitstamp exchange.
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