Cryptocurrency Price Today: Dogecoin Becomes Top Gainer; Bitcoin, Ethereum Remain Stable
Cryptocurrency price on November 2 quick take: Dogecoin is riding Elon Musk’s Twitter takeover to see a renewed boost in popularity.
Elon Musk’s favourite crypto, Dogecoin (DOGE), is riding high on the billionaire entrepreneur’s recent takeover of Twitter, emerging to be the biggest gainer after months of slump. Bitcoin (BTC) and Ethereum (ETH), on the other hand, have also managed to see minor gains in the last 24 hours, holding on to their $20,000 and $1,500 points, respectively. Other popular altcoins — including the likes of Litecoin (LTC) and Ripple (XRP) — saw minor gains across the board. The Terra Classic (LUNC) token emerged to be the biggest loser.
At the time of writing, the global crypto market cap stood at $1.02 trillion, registering a gain of 0.09 per cent in the last 24 hours, as per CoinMarketCap data.
Bitcoin (BTC) price today
Bitcoin price stood at $20,537.60, seeing a minor 24-hour gain of 0.26 per cent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 17.68 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,593.26, marking a 24-hour jump of 0.42 per cent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.38 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour gain of 2.90 per cent as per CoinMarketCap data, currently priced at $0.1466. As per WazirX, Dogecoin price in India stood at Rs 12.42.
Litecoin (LTC) price today
Litecoin saw a 24-hour jump of 0.67 per cent. At the time of writing, it was trading at $55.30. LTC price in India stood at Rs 4,702.01.
Ripple (XRP) price today
XRP price stood at $0.4611, seeing a 24-hour gain of 0.49 per cent. As per WazirX, Ripple price stood at Rs 39.41.
Solana (SOL) price today
Solana price stood at $32.28, marking a 24-hour dip of 1.04 per cent. As per WazirX, SOL price in India stood at Rs 2,731.49.
Top crypto gainers today (November 2)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Dogecoin (DOGE)
Price: $0.1415
24-hour gain: 11.11 per cent
Toncoin (TON)
Price: $1.67
24-hour gain: 10.85 per cent
Theta Network (THETA)
Price: $1.24
24-hour gain: 5.74 per cent
Uniswap (UNI)
Price: $7.22
24-hour gain: 3.23 per cent
Elrond (EGLD)
Price: $60.37
24-hour gain: 2.61 per cent
Top crypto losers today (November 2)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Terra Classic (LUNC)
Price: $0.0002222
24-hour loss: 8.43 per cent
Casper (CSPR)
Price: $0.03921
24-hour loss: 5.55 per cent
Huobi Token (HT)
Price: $8.28
24-hour loss: 5.12 per cent
Klaytn (KLAY)
Price: $0.252
24-hour loss: 5.06 per cent
Fantom (FTM)
Price: $0.2283
24-hour loss: 4.99 per cent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Most cryptocurrencies traded sideways in the past 24 hours due to the upcoming macroeconomic events across the global markets. The price of Bitcoin is holding its current bullish momentum ahead of the FOMC meeting on Wednesday. If the BTC can maintain a steady gain above the $20,500 level, the next resistance would be at the $21,000 level. If it fails to retain the gains, we might see BTC falling to the $20,000 level. On the other hand, Dogecoin remained the biggest gainer on Tuesday, gaining more than 13 per cent over the previous day. However, there are fewer chances that the coin would rise further as it has already grown much.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “With a 24-hour trading volume of 44 billion, Bitcoin is currently worth $20,391. Bitcoin is up less than 5 per cent over the past seven days. The price of SHIB will follow the price of Dogecoin up and today SHIB is about 8 per cent higher. Dogecoin price has now broken the October high of $0.151 and reached a daily high of $0.158 on November 1. However, the candle's four-hour close was below the previous high, which is a bearish SFP (swing failure pattern) in this time frame.”
weTrade founder Prashant Kumar offered his take on the market scenario as well, "Dogecoin is on a streak! The memecoin, since Elon Musk’s Twitter takeover, has gained approximately 12 per cent over the past 24 hours and 122 per cent in the last seven days as investors hope for more developments between the two organisations. On the other hand, Bitcoin and Ethereum remained stable ahead of the US Federal Open Market Committee on Wednesday, which is likely to announce interest rate changes. This week, Bitcoin has been holding its resistance level of $20,000 and Ethereum is inching closer to $1,600. The interest rate announcement could spark some movement in the crypto market.”
Shivam Thakral, the CEO of BuyUCoin, said, “The overall crypto market sentiment is on the positive side after most of the crypto assets witnessed a mini rally. The new Twitter CEO is a crypto enthusiast and investors are betting on Twitter’s future crypto plans which will create a more evolved and truly global crypto community as a part of the Twitter ecosystem. The US Federal Reserve meeting is around the corner and another 75 basis point rate hike is expected, that’s the reason crypto heavyweights Bitcoin and Ether are almost flat. The rate hike decision by the Fed will have a significant impact on the crypto market in the short to midterm.”
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
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