Shiba Inu Spikes 5% As Bitcoin Reclaims $44K Again: Price Analysis

Shiba Inu spikes 5% overnight while Bitcoin reclaims the $44,000 price range once again and crypto.com coin market the biggest gains in one day so let’s read further in our latest cryptocurrency news today.

Following the short retracement yesterday, Bitcoin went on an offensive once again and touched $44,000 with most other coins being in the green today as well with ETH hitting $3200 and Shiba Inu spiking 5% in a day. It has still been a rough week since the biggest crypto started its ascent and the price of the asset struggled near $37,500 at the start of February but the bulls stepped up and pushed it north.

Bitcoin broke above $40,000 before adding another grand in the next few hours. After stalling there for a bit, BTC started adding more value once again and this time it tapped a multi-week high of $44,000 before surging to $45,000 for the first time since January. After a few days of gains, it was expected to some extent that there will be a short retracement and it transpired yesterday when BTC dropped by a few thousand dollars to ,500.
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BTC did react well to the price drop and added another $1500 after. As a result, it now stands above $44,000 and the market cap neared $850 billion.

The alternative coins mimicked Bitcoin’s performance to a larger extent and as such, most corrected yesterday’s losses but then turned green today. Ethereum slid below $3100 but a 3.5% increase occurred since then which drove the coin to $3200 now. Terra, Ripple, Binance Coin, and MATIC all marked similar gains while Solana, Cardano, Polkadot, Avalanche, and DOGE portrayed more modest increases. Shiba Inu and CRO token are the biggest gainers today. Both are up by 5% and SHIB Stands at $0.000033 while CRO is set at $0.5. more price increases were visible from Flow which increased by 13%, Kadena by 10%, NEO By 8%, and Harmony by 9%. the crypto market cap is up by $40 billion since a day ago and it is back above $2 trillion.

As recently reported, LEASH surges 40% since it is one of the coins of the Shiba Inu ecosystem and SHIB recently announced to be launching a metaverse real estate effort. LEASH is one of the ecosystem tokens of Shiba Inu and today it surged by 40%. This happens on the back of an announcement made by the Shiba Inu team which introduced virtual real estate in their metaverse efforts.