December 28th Technical Analysis: Bitcoin, dogecoin, Shiba Inu plunge; Cardano rises

• Cryptocurrency prices today: Ether, the coin linked to ethereum blockchain & second largest crypto, plunged over 1%

In cryptocurrencies, Bitcoin price was trading above $50,000 even as the world’s most popular and largest cryptocurrency by market capitalization slipped 0.6% to $50,180. Bitcoin, famed for its volatility, has shed more than $18,000 since hitting a record in early November, but it’s still up more than 75% this year (year-to-date or YTD) so far.

Meanwhile, Ether, the coin linked to ethereum blockchain and the second largest cryptocurrency, was trading over a per cent lower at $4,013. On the other hand, Dogecoin prices slipped more than 2% to $0.18 whereas Shiba Inu also plunged 0.7% to $0.000038.

Other digital tokens such as Solana, Polygon, Litecoin, Terra, XRP, Polkadot, Stellar were also trading with cuts over the last 24 hours. Cardona rose over 3% whereas Uniswap gained more than 4%. Meanwhile, global crypto market cap declined to $2.49 trillion, as per CoinGecko.

As a blockbuster year for cryptocurrencies ticks to a close, some of the smallest coins are having a moment. Many alternative coins have posted spectacular runs this year as they gained traction. Coins such as Dogecoin, Cardano and Shiba Inu, previously relegated to the most speculative corners of the market, have turned into household names this year.

Cryptocurrency prices went on another roller coaster this past year: surging, plunging and then cycling again. El Salvador became the first country to make Bitcoin legal tender this year whereas the first exchange-traded fund tied to Bitcoin futures also began to trade.

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