Bitcoin, Ether Record Marginal Hikes; It remains tough for Dogecoin and its imitators

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By the end of the week, Bitcoin’s value failed to make a big gain on Friday, November 5th. The world’s oldest cryptocurrency rose marginally 0.43 percent in valuation and is currently trading at $ 67,212 (roughly 49.9 lakh). per token on Indian exchanges such as CoinSwitch Kuber. Globally, prices are a little lower, but still remain strong. Despite minor gains and losses, the reigning crypto coin has been able to hold its value above USD 62,000 (about 47 lakh) since it hit a new high on the last day of October.

Ether appears to have followed Bitcoin as well, gaining little before closing the first week of November. The cryptocurrency grew just 0.40 percent to $ 4,908 (roughly Rs 3.64 lakh), according to Gadgets 360’s crypto price tracker.

At a glance, the crypto price chart looked like a mix of mixed red and green price indicators today.

Tether, Polkadot, USD Coin, and Chainlink are some of the cryptocurrencies that have seen marginal gains.

While crypto-coins like Cardano and Ripple faced minimal depreciation, it remained difficult for Dogecoin and its other dog-based imitators.

The potential DOGE competitor Shiba Inu has also been losing value in recent days. The Dog token saw a significant loss of 15.92 percent and is currently trading at $ 0.000049 (about Rs. 0.003633). This drastic drop in SHIB price comes after the cryptocurrency rose 50 percent on October 25 and became the eleventh largest cryptocurrency coin by market value, WatcherGuru reported.

Baby Doge Coin, Floki Inu, and Kishu Inu are among other meme-based dog coins that have depreciated this last week of November.

The crypto space is attracting more and more people to experiment with its elements, including non-fungible tokens (NFTs) and the metaverse

For example, in a recent report, research firm Civic Science said US citizens are making profits from crypto investments in low-paying jobs and are considering quitting their jobs.

The survey found that nearly two-thirds of people who have quit their jobs have an annual income of less than $ 50,000.

Wow 4% of the people in the US have quit their jobs due to crypto mining, and the vast majority made less than 50,000. Now we know why so many people are giving up badly paid jobs. And that was BEFORE the current attempt @cnbc @elerianm @novogratz @Austan_Goolsbee https://t.co/0K5ozoOw1j

– Mark Cuban (@mcuban) November 3, 2021 Interested in cryptocurrency? We discuss everything about crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music, and anywhere you get your podcasts.

Cryptocurrency is an unregulated digital currency, not a legal tender and is subject to market risks. The information provided in this article is not intended as financial advice, trading advice, or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV is not responsible for losses that may arise from an investment based on perceived recommendations, forecasts or other information contained in the article.

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