Cryptocurrency price today on December 18 underwent a great fluctuation with BTC reaching a new all-time high $108,000, then fell back down to below $106,000.
This level of volatility means that cryptocurrency trading is very unpredictable. However, the recently launched token Pudgy Penguins (PENGU) went up by 550% in only 24 h and became part of the top 100 cryptographies by market capitalization.
But overall, market conditions did face a downturn and the Bitget Token (BGB) could surge at 17%.
Market Cap and Trading Volume
The total market capitalization of cryptocurrencies declined by around 1% to $3.71 trillion, while trading volumes fell by 8.6% to $185 billion. The Fear and Greed Index showed extreme greed, at 80, which means that investors are highly enthusiastic about the current situation.
Cryptocurrency price today on December 18, 2024
Bitcoin Price:
- Current Price: $105,368
- 24-Hour Change: -1%
- Price Range: Low $105,004, High $108,269
- Market Cap: $2.09 trillion
- Trading Volume: $70 billion
- Market Dominance: 56.63%
Ethereum Price:
- Current Price: $3,869
- 24-Hour Change: -4%
- Price Range: Low $3,836, High $4,040
- Market Cap: $466 billion
- Trading Volume: $35 billion
- Market Dominance: 12.67%
XRP Price:
- Current Price: $2.55
- 24-Hour Change: +3%
- Price Range: Low $2.463, High $2.717
- Market Cap: $146 billion
- Trading Volume: $17 billion
Solana Price:
- Current Price: $218
- 24-Hour Change: +2%
- Price Range: Low $213, High $228
- Market Cap: $104 billion
- Trading Volume: $6 billion
Also read: Is Etfswap a Game Changer in ETF Trading?
Meme Coins Price:
Meme cryptocurrencies faced a bearish trend today:
- Dogecoin (DOGE): Down approximately 3% at $0.39
- Shiba Inu (SHIB): Down by 4% at $0.00002609
- Other notable meme coins like PEPE, BONK, and WIF also saw declines ranging from 2% to 6%.
Also read: Dogecoin Price Prediction
Top Gainers and Losers
Top Gainers:
1. Pudgy Penguins (PENGU):
- Surge of 550%
- Trading at $0.03
- 24-Hour Range: Low $0.02, High $0.06
2. Bitget Token (BGB):
- Increase of 17%
- Trading at $4.18
- 24-Hour Range: Low $3.56, High $4.23
3. Litecoin (LTC):
- Up approximately 7%
- Trading at $125
- 24-Hour Range: Low $114, High $129
Also read: What is Crypto30x.com Gemini?
Top Losers:
1. Lido DAO (LDO):
- Down by 9%
- Trading at $2.08
- 24-Hour Range: Low $2.05, High $2.31
2. Aptos (APT):
- Decrease of 8%
- Trading at $12.89
- 24-Hour Range: Low $12.72, High $14.36
3. Fantom (FTM):
- Down by 7%
- Trading at $1.31
- 24-Hour Range: Low $1.297, High $1.43
Also read: Cryptocurrency Price on December 17, 2024
Personal Analysis
The cryptocurrency market is situated under high volatility and diverse behavior in the assets. Bitcoin’s recent all-time high is the result of a strong institutional presence and increasing use of cryptocurrencies and acceptance of cryptocurrencies as mainstream financial assets; however, Bitcoin’s explosive pricing behavior reveals the intrinsic risk of crypto assets investments.
The sudden explosion of Pudgy Penguins shows that the newly created tokens can gain popularity readily in such context, owing to speculation and collective market mindset, rather than the intrinsic value of these tokens alone.
This phenomenon may indeed push more investors towards new tokens, but then there is a risk that some of them may bubble.
Beyond, mixed performance of altcoins as shown in XRP and Solana indicates that while few projects gain momentum, other projects lose their way among these correctional periods.
In all, despite the fact that the optimism is so extreme with levels of greed shown by the Fear and Greed Index, investors need to remain cautious and devise risk management strategies to successfully navigate through this volatile landscape.
(Source: Coingape)
