Sunday, August 14

SHIB, RGT and AMPL ditch Fed comment by posting double-digit gains


Volatility reared its ugly head for a second day after growing fear of the new Omicron Covid-19 variant and the Federal Reserve’s admission that an earlier-than-expected adjustment in its bond-buying program continues to impact global stock markets. The impact of these concerns appears to have affected the price of Bitcoin and this morning the digital asset retreated from its intraday high at $ 59,175, falling to a low of $ 55,875.

Not all of this is bad news for cryptocurrency holders, however several altcoins have racked up notable gains in the last 24 hours.

Top 7 currencies with the highest price change in 24 hours. Source: Cointelegraph Markets Pro

Cointelegraph Markets Pro data and TradingView shows that the biggest winners in the last 24 hours were Shiba Inu (SHIB), Rari Governance Token (RGT) and Ampleforth (AMPL).

Shiba Inu reveals game plan and Metaverse

Shiba Inu is a meme coin that operates on the Ethereum (ETH) network and has gained popularity over the course of 2021 by embracing emerging trends such as non-fungible tokens (NFT) and decentralized finance (DeFi).

VORTECS ™ data from Cointelegraph Markets Pro began to detect a bullish outlook for SHIB on November 29, ahead of the recent price surge.

The VORTECS ™ score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements, and trading activity. Twitter

VORTECS ™ score (green) vs. SHIB price. Source: Cointelegraph Markets Pro

As seen in the chart above, while the VORTECS ™ score for SHIB has been relatively flat over the past week, Cointelegraph Markets Pro’s NewsQuakes ™ alert system released three updates around 15 hours before the price increased by 42% during the next day.

SHIB’s price surge comes after the token listed on the Kraken exchange and news that Shiba Inu partnered with William Volk, Activision’s former vice president of technology, to create games for the project’s ecosystem and foray into the Metaverse.

Related: Shiba Inu gains over 30% in just 2 days when Kraken announces SHIB listing

Rari Capital is worth $ 1.5 billion

The Rari Governance token is the native token of Rari Capital, a non-custodial Robo DeFi advisor that allows users to autonomously earn a return on their cryptocurrency holdings.

VORTECS ™ data from Cointelegraph Markets Pro began to detect a bullish outlook for RGT on November 25, ahead of the recent price surge.

VORTECS ™ score (green) vs. RARI price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS ™ score for RGT spiked into the green zone and peaked at 77 on November 25, around 78 hours before the price rose 51.5% over the two days. following.

The rally in RGT comes as the protocol surpassed $ 1.5 billion in total locked value and launched a new shield mining campaign with Nexus Mutual (NXM) where NXM participants can earn RGT for their engagement activities.

Ampleforth adds a wrap

Ampleforth is an overflow project hosted on the Ethereum network that uses an algorithmically adjusted circulating supply that is intended to be the base money for a decentralized economy that can remain decoupled from the price action of other cryptocurrencies.

Cointelegraph Markets Pro data and TradingView shows that after hitting a low of $ 0.75 on Nov. 22, the AMPL price has risen 87.5% to a daily high of $ 1.41 on Nov. 30.

AMPL / USDT 4-hour chart. Source: TradingView

The rally appears to be connected with the launch of wAMPL, a wrapped version of AMPL that is not readjusted and can be more easily used throughout the DeFi ecosystem.

The overall cryptocurrency market capitalization is now $ 2.613 trillion and Bitcoin’s dominance rate is 41.1%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trade move involves risk, you should do your own research when making a decision.