Solana

Bitcoin

Dogecoin

Shiba Inu

The crypto market witnessed a day of mixed fortunes as the global market cap climbed back to $1.7 trillion, signaling a stabilization after a 3% drop yesterday.&nbsp; 
Notably, <a href="https://crypto.news/price/bitcoin/">Bitcoin</a> surged to $43,600, marking its highest point since last week, despite a mere 6% increase in trading volume over the past 24 hours. In contrast, Solana (<a href="https://crypto.news/price/solana/">SOL</a>) experienced a notable decline, shedding nearly 5% of its value today.&nbsp; 
The market also saw significant volatility in XRP, which plummeted to $0.49, its lowest in a month. This drop was primarily attributed to speculations around a $113 million breach affecting Ripple. However, XRP rebounded following confirmation from Ripple Co-Founder <a href="https://crypto.news/ripples-co-founder-confirms-113m-theft-xrp-down-5/">Chris Larsen</a> that the breach was limited to his personal XRP wallets. 
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The meme coin market faced a significant downturn, with the market cap falling by 2%. Solana-based meme coins such as <a href="https://crypto.news/price/bonk/">BONK</a> and <a href="https://crypto.news/binance-futures-to-launch-dogwifhat-perpetual-contract/">dogwifhat</a> (WIF) experienced over 6% losses. <a href="https://crypto.news/price/pepe/">PEPE</a> also dipped by over 10%, while Shiba Inu and Dogecoin showed some resilience to the market dip. 
<figure class="wp-block-image size-full is-resized">
 <img loading="lazy" decoding="async" width="992" height="473" src="https://crypto.news/app/uploads/2024/01/Screenshot-2024-01-29-213300-3.png" alt="Solana meme coins" class="wp-image-14244089" style="width: 100%;height:auto">
 <figcaption class="wp-element-caption">
 All Solana-based meme coins in red on January 31st | Source: <a href="https://www.coingecko.com/en/categories/solana-meme-coins" target="_blank" rel="noopener">CoinGecko</a>
 </figcaption>
</figure> 
A peculiar correlation seems to be emerging between the broader crypto market and the meme coin sector. While the crypto market experienced a decline yesterday, the meme coin market was notably up. Today, the trend reversed, with the global market stabilizing and meme coins facing a downturn. 
 Read more: <a href="https://crypto.news/bitcoin-etfs-surge-with-247m-inflow-as-btc-nears-44k-again/"> Bitcoin ETFs surge with $247m inflow as BTC nears $44k again </a>

Global crypto market stabilizes as Solana meme coins bleed

crypto.news

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