Bitcoin‘s value surged today, reaching six-digit territory after the release of encouraging U.S. inflation data for November. Analysts had predicted that this economic indicator would lead to a price increase, and their forecasts have proven accurate, coinciding perfectly with Coinbase’s recent announcement regarding a new meme coin listing.
What Impact Did the Market See?
As Bitcoin climbed to $100,800, the altcoin market also began to rebound. A previous drop to $94,500 triggered significant sell-offs, leading to the liquidation of substantial long positions. Among the hardest-hit was XRP Coin and Shiba Inu, both of which have since rebounded, posting gains of over 15% throughout the day.
How Did Coinbase Contribute to This Surge?
Coinbase’s announcement of PNUT Coin’s listing plans has boosted the meme coin sector significantly. Given the rising trading volumes in this category, the news was anticipated, with an official listing expected shortly. PNUT Coin itself has experienced a remarkable surge of over 30%, trading at around $1.33.
Key highlights from today’s market movements include:
- Bitcoin reaching $100,800, showcasing strong market confidence.
- XRP Coin exceeding $2.44, demonstrating significant recovery.
- Shiba Inu and other altcoins gaining over 15% post-sell-off.
- PNUT Coin rising over 30%, reinforcing the popularity of meme coins.
With the overall cryptocurrency market trending upward, XRP Coin has now surpassed $2.44, while SOL Coin is trading at $228, and AVAX stands at $47.8. The positive momentum reflects a broader recovery in the digital asset space, creating renewed interest among traders and enthusiasts alike.