Crypto Prices Today March 14 2024: Bitcoin Et al's Strengthening Is Unstoppable

The prices of Bitcoin and other top cryptocurrencies were observed to experience uniform movements on Thursday (14/3/2024). The majority of top cryptocurrencies were observed to be in the green zone again.

Based on data from Coinmarketcap, the cryptocurrency with the largest market capitalization, Bitcoin (BTC), is strengthening again. Bitcoin rose 3.07 percent in 24 hours and 9.82 percent for the week. Currently, the price of Bitcoin is at USD 73,081 or the equivalent of IDR 1.13 billion (assuming an exchange rate of IDR 15,569 per US dollar).

Ethereum (ETH) also strengthened. ETH rose 1.28 percent in the past day and 3.62 percent in the week. That way, currently ETH is at the level of IDR 62.1 million per coin. The next crypto, Binance coin (BNB) is still strengthening. In the last 24 hours BNB flew 11.91 percent and 39.91 percent a week. This makes BNB priced at IDR 9.30 million per coin. Then Cardano (ADA) was back in the green zone. ADA strengthened 1.69 percent in the last 24 hours and 2.55 percent in the week. That way, ADA is at the level of IDR 11,521 per coin.

Meanwhile, Solana (SOL) is strong again. SOL grew 10.35 percent in a day and 23.88 percent in a week. Currently, the price of SOL is at IDR 2.53 million per coin. XRP was observed to still be in the red zone. XRP slumped 0.45 percent in 24 hours, but still gained 11.39 percent on the week. In this way, XRP is now priced at IDR 9,791 per coin. Meme coin Dogecoin (DOGE) also strengthened. In the last day DOGE rose 2.21 percent and 7.37 percent a week. This makes DOGE trade at IDR 2,618 per token.

Stablecoin Tether (USDT) and USD coin (USDC) both strengthened 0.01 percent today. This means that the prices of both of them remain at the USD 1.00 level. Meanwhile, Binance USD (BUSD) strengthened 0.01 percent in the last 24 hours, leaving its price still at the USD 1.00 level. Meanwhile, today's overall crypto market capitalization is at USD 2.76 trillion or the equivalent of IDR 42,970 trillion.

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Shiba Inu Coin Crypto Rises 220% Throughout 2024, What is the Future Potential?

One of the biggest meme coins, Shiba Inu Coin (SHIB Coin), plunged more than 90% from its all-time high during the crypto industry collapse in 2022.

Reporting from Yahoo Finance, Wednesday (13/3/2024), the meme token failed to bounce back in 2023 despite improving sentiment across the industry and a strong rebound in the leading cryptocurrency Bitcoin.

But Shiba Inu is off to a good start in 2024. So far it is up more than 220%, which is more than triple Bitcoin's gain so far this year.

While Shiba Inu may continue to rise in price, nothing has really changed about the token, so it could potentially suffer from bad luck in the long term.

SHIB Coin Challenge

Shiba Inu also faces several other challenges. It was built on the old Ethereum blockchain, which was clunky with high transaction fees.

The developer launched Shibarium last year, which is a Layer 2 blockchain solution designed to process off-chain transactions, reducing the load on the underlying network (and fees).

This does little to increase adoption of Shiba Inu, but makes the token a more viable candidate for obscure use cases such as the metaverse and gaming transactions.

Shiba Inu is also facing supply issues with over 589 trillion tokens in circulation, and will explain why that will hinder its ability to deliver incredible returns from here.