Lagatar24 Desk
Mumbai, Nov.5: The value of Bitcoin failed to make a significant rise on Friday, November 5, as the week draws to a close. On Indian platforms like CoinSwitch Kuber, the world’s oldest cryptocurrency gained 0.43 percent in value and is now selling at $67,212 (approximately Rs. 49.9 lakh) per token. Prices are little down globally, but they remain solid. Despite small gains and losses, the ruling crypto-coin has maintained a value of above $62,000 (approximately Rs. 47 lakh) since reaching a new high in late October.
Ether appears to have followed Bitcoin’s lead, gaining only a fraction of a percent before the end of the first week of November. According to the Gadgets 360 crypto price tracker, the cryptocurrency increased by only 0.40 percent to $4,908 (approximately Rs. 3.64 lakh).
At first sight, today’s crypto-price chart appeared to be a jumble of red and green price indications.
Some cryptocurrencies have seen slight rises, including Tether, Polkadot, USD Coin, and Chainlink. While some crypto-coins, such as Cardano and Ripple, experienced minor value drops, Dogecoin and its fellow dog-based copycats continued to struggle.
Shiba Inu, a potential DOGE competitor, has also been losing value in recent days. The dog-token has lost 15.92 percent of its value and is presently trading at $ 0.000049 (roughly Rs. 0.003633). This sharp drop in the SHIB price comes after the cryptocurrency saw a 50% increase in value on October 25, becoming the 11th-largest cryptocurrency by market capitalization, according to WatcherGuru.
Other meme-based dog coins that have lost value in this last week of November include Baby Doge Coin, Floki Inu, and Kishu Inu.
People are increasingly interested in entering the crypto-space and experimenting with its aspects, such as non-fungible tokens (NFTs) and the metaverse.
