Bitcoin Rises, Shiba Inu Gains In Popularity; Check out the top 10 crypto prices on October 7th

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Over the past year, the cryptocurrency market has grown in popularity but continues to remain volatile. In a recent update on the cryptocurrency market trend, as of Thursday, October 7, cryptocurrency prices continue to be in red. Bitcoin, one of the best-known cryptocurrencies available as it is the largest market cap, saw its valuation rise slightly, rising 5.68%. Other coins followed Bitcoin’s uptrend but saw their price increase slightly from Monday. While providing an update on the altcoin market, Siddharth Menon, COO, Wazir X previously reported that after the bearish cycle Cardano (ADA) was trading heavily among altcoins. This represents a mostly developed flag pattern trend.

Cryptocurrency price on October 7

  • Bitcoin: $ 54,724.00
  • Ethereum: $ 3,544.04
  • Tie: $ 1
  • Gimbal: $ 2.19
  • Binance Coin: $ 436.98
  • XRP: $ 1.07
  • Polkadot: $ 31.94
  • USD coin: $ 1.0
  • Dogecoin: $ 0.24
  • Litecoin: $ 178.97

Why does the Shiba Inu go up?

One piece that stands out from the rest is the Shiba Inu (SHIB) piece. The token jumped over 55% in a single day earlier this week. The coin on Tuesday is trading at $ 0.00001318 while its market cap was $ 6,560,227,582. The coin was launched this time after a tweet from Tesla CEO and Dogecoin investor Elon Musk. After the Tweet, an anonymous whale bought and purchased more than 6.3 trillion coins. The whale then bought an additional 116 billion coins the next day, followed by two more transactions of 159 billion coins and another billion coins, with the last three transactions taking place within hours. The price of the Shiba Inu had already skyrocketed in a brief period after Musk shared a photo of his new pet dog named “Floki”. On Monday, Musk tweeted another image of the puppy with the caption “Floki Frunkpuppy,” which caused the token’s price to rise suddenly.

How to buy cryptocurrencies?

Currently, users have several options to buy Bitcoin and other cryptocurrencies from a crypto exchange known as CoinBase, WazirX, and BNS. If you want to buy this cryptocurrency, you will need to have or create an account on those exchange platforms selling this cryptocurrency. To start the account creation process, users will need to submit basic investor information, such as name and bank details. Platforms like CoinDesk, WazirX, and Binance also need the Pan Card verification processes to be completed before starting online trading. Keep in mind that investing in cryptocurrency is risky as the prices fluctuate continuously, so invest after proper research.


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