The price movements of digital assets, within the past 24 hours have been a mixture of bullish, and bearish momentum. Action in the markets saw “Dogecoin Killer” Shiba Inu ($SHIB,) continuing its upward momentum, while the – lesser known – Pig Finance Token, stole $SHIB’s thunder with an over 600% price rally.
Monday, the 10th of May saw crypto markets showing a mixture of green and red. Probably influenced by the largest cryptocurrency, by market capitalization, Bitcoin’s ($BTC) uncertain price action. The digital asset market’s progenitor asset – still working it’s way out of an upward triangle- started the day at a $58,463 price high, just shy of the $58,850 mark. Failing to reach the $60.3k resistance level, the digital asset buckled to a daily low of $53,305.
Bitcoin had bounced back to a, slightly stronger, $55,265 (at time of writing.) Bitcoin doesn’t seem too intent on bullish action in the next week, or so, as the progenitor crypto asset’s Stochastic RSI is currently flashing bearish divergence. Ethereum ($ETH), on the other hand, currently looks uncertain of where it may go next.
Having – about – doubled, its value in the past 20 days, ETH opened the day at $4,155, to reach a daily high of $4,205 (by press time.) The blockchain-powered financial operating system’s lead token dropped a low of $3,932 during the trading day, and was last cruising upwards, at the $3,939 price level. The token seemed to be looking to close the day, having formed a bearish pinbar.
Coming out of a weekend rally – on the back of speculative hype and bumper exchange listings – the upcoming Shibaswap, Defi platform’s native token, Shiba Inu or $SHIB experienced a further +100% rally, to lead gains experienced by Centralized Exchange (CEX) listed digital assets. The asset’s most recent run happened to coincide with Binance announcing the listing of the digital asset market’s current darling, $SHIB.
Other top gainers among CEX-listed tokens are iExec RLC ($RLC,) with a 63% price rally (at time of writing) Stellar Lumens ($XLM,) cracking a 24% upward move. Pirate Chain ($ARRR) managed an impressive 32% price jump, while Stratus ($STRAX) did 25% in value gains. Surprisingly, Richard Heart’s scam coin HEX ($HEX) also got in on the bull run – putting together a tidy 17% price jump.
Defi platform, Pig Finance‘s native token, $PIG stole the day – despite $SHIB’s impressive run – by rallying 615%. The token, listed on 1Inch, PancakeSwap, and ApeSwap. Having climbed more than 10,000% in value in the past week, $PIG went from a daily low of $0.00000037, to a price high of $0.00000277.
$PIG was priced at $ 0.00000269 (at time of writing,) and led an army of $SHIB killers on Monday. Aurix Token ($AUR) rallied 414% during the day – reaching a price of $1.75 at time of writing. Margined token, Amun Bitcoin 3x Daily Short ($BTC3S), leaped 364% in value, and was sitting at the $0.3017 price level, prior to publishing.
Another one of Doge’s rival token’s Kishgained ($KISHU) rallied 263% in value, only to reach a pip in value. Recently listed on Huobi, MedicalChain’s $MTN gained 212% on the day, and is now worth three US cents.
As previously mentioned, Monday saw some bearish action as well, with the day’s biggest loser being Snowball ($SBT,) which shed 86% of its value. Runner up was $DOGE copycat, Doge Token ($DOGET,) which lost 71% of it’s price value.
Anybody looking to Long Dogecoin on Monday, through FTX’s $DOGE-based 3× margin coin, would have been out quite a bit, as the coin had lost 47%, by time of writing. Same goes for anybody trying to short $XLM on Binance, as the $XLMDOWN margin token was down 38.61% at writing time.