Bitcoin: BTC, Ethereum: ETH, Solana: SOL, Dogecoin: DOGE, RIPPLE: XRP, Shiba Inu: SHIB

• The Global crypto market cap rose by 0.44% to $2.29 trillion today.
• Uptober disappointed, failing to deliver the expected gains in the crypto market.

The Global cryptocurrency market cap currently stands at $2.29 trillion, a slight 0.44% gain in the past day. Over the last 24 hours, trading volumes reached $50 billion, up by 5.80%. DeFi trading volumes accounted for $3.38 billion of this, or 6.76% of the daily total, while stablecoins made up 88.96% of volume, totaling $44.48 billion. Bitcoin’s market dominance rose slightly to 58.32%, reinforcing its position as the market leader.

October, typically a bullish month for the crypto market often dubbed “Uptober” did not live up to expectations this year. While optimism drove prices initially, the anticipated upward momentum waned. Investors are now looking toward November with cautious optimism, hoping for stronger trends.

Bitcoin (BTC) 

Bitcoin is trading at $67,784.02, marking a 1.08% increase in the price over the past 24 hours. BTC’s market cap has risen to $1.34 trillion, a 1.11% gain. Trading volume in the last 24 hours reached $18.87 billion, representing a surge of 19.76% and a volume-to-market-cap ratio of 1.41%. The fully diluted valuation (FDV) stands at $1.42 trillion, and BTC has a circulating supply of 19.77 million coins out of a max supply of 21 million.

Technically, BTC remains in a bullish phase, with its 9-day moving average ($67,603.55) above the 21-day moving average ($65,960.81). The RSI at 59.81 indicates moderate buying pressure, but the key resistance at $70,000 could act as a psychological barrier. Should BTC break above this level, it may climb toward $72,000. However, a fall below $67,000 could bring it down to $65,000.

Ethereum (ETH) 

Ethereum is priced at $2,483.46, with a 24-hour gain of 0.25%. Its market cap sits at $299.02 billion, reflecting a similar percentage increase. ETH’s 24-hour volume stands at $11.28 billion, a modest 3.03% rise, giving it a volume-to-market-cap ratio of 3.77%. With a total and circulating supply of 120.40 million ETH, Ethereum’s FDV mirrors its market cap at $299.01 billion.

ETH opened October at around $2,400, saw a boost to $2,600 mid-month, but has since stabilized. Its 9-day MA of $2,557.42 is above the 21-day MA of $2,540.19, indicating short-term bullish sentiment. A push past the $2,800 resistance could send ETH toward $3,000. If support at $2,400 holds, this trend may continue. 

Solana (SOL)

Solana is trading at $173.45, a 0.73% price up in the last day. Its market cap of $81.57 billion saw a 0.75% gain. With a 24-hour volume of $2.68 billion, up 22.13%, the volume-to-market-cap ratio is 3.27%. SOL’s FDV is at $101.89 billion, with a total supply of 587.40 million SOL and a circulating supply of 470.29 million.

SOL started October near $170 and surged past $175 mid-month. The 9-day MA for SOL is above the 21-day MA, signaling bullish momentum. If it breaks the $180 resistance, SOL could target $190. Failure to hold support around $170 may result in a pullback to $165.

Dogecoin (DOGE) 

Dogecoin price is at $0.1421, a 3.21% increase in the past 24 hours. Its market cap has grown to $20.82 billion, up by 3.36%, with a volume surge of 81.53% to $1.47 billion, reflecting a high volume-to-market-cap ratio of 7.05%. DOGE’s FDV is $20.85 billion, with a total and circulating supply of 146.55 billion DOGE.

DOGE began October at $0.1350, and mid-month saw a jump to $0.1400. The 9-day MA is above the 21-day MA, suggesting bullish momentum. If DOGE breaks the $0.1500 resistance, it could aim for $0.1600. However, a drop below the $0.1400 support may push it back to $0.1300.

Ripple (XRP)

XRP’s price is at $0.5133, with a 0.16% daily increase and a market cap of $29.16 billion, a slight 0.28% gain. Trading volume is at $548.68 million, yielding a 1.88% volume-to-market cap ratio. XRP’s FDV sits at $51.29 billion, with most of its supply (56.81 billion out of 99.99 billion) in circulation. 

XRP remains below its 9-day and 21-day MAs, suggesting a bearish sentiment. Key support is around $0.5000, with resistance at $0.5334; a break above could hint at bullish potential.

Shiba Inu (SHIB)

SHIB, trading at $0.00001687, rose by 0.77% in the last day. Its market cap of $9.94 billion increased by 0.61%. SHIB’s 24-hour trading volume is $172.81 million, reflecting strong market interest and a 1.74% volume-to-market-cap ratio.

With nearly all of its total 589.52 trillion supply circulating, SHIB is highly liquid. After opening October at $0.000016, SHIB saw stability through mid-month, suggesting a period of consolidation rather than volatility. Breaking its $0.00002200 resistance could revive bullish momentum.

As November approaches, the crypto market remains cautiously optimistic. While Uptober underperformed, Bitcoin and Ethereum hold bullish indicators, with significant resistance levels to test. Altcoins like Solana, Dogecoin, XRP, and SHIB show unique trading patterns, with Solana and Dogecoin displaying bullish momentum. XRP and SHIB appear more stable, reflecting established investor bases. Market fundamentals and technical signals will guide these assets’ trajectories in a volatile landscape, with investors hopeful for November’s performance.

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