SHIB, RGT and AMPL shake off Fed taper comments by notching double-digit gains

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Volatility has surfaced 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 to its bond buying program continues to continue. have an impact on global stock markets. The impact of these concerns appears to have impacted the price of Bitcoin and this morning the digital asset has retreated from its intraday high at $ 59,175, falling to as low as $ 55,875.

It’s not all bad news for crypto holders, however, several altcoins have seen notable gains in the past 24 hours.

Top 7 coins with the highest price variation over 24 hours. Source: Cointelegraph Markets Pro

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

Shiba Inu reveals his game plan and Metaverse

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

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

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, trade volume, recent price movements and activity Twitter.

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

As the chart above shows, while the VORTECS ™ score for SHIB has remained relatively stable over the past week, Cointelegraph Markets Pro’s NewsQuakes ™ alert system released three updates approximately 15 hours before the price does not increase by 42% the next day.

SHIB’s price spike comes after the token listed on the Kraken exchange and the announcement of Shiba Inu’s partnership with William Volk, the former vice president of technology at Activision, to create games for the ecosystem of the project and a foray into the metaverse.

Related: Shiba Inu Gains Over 30% In Just 2 Days As Kraken Announces SHIB List

Rari Capital holds $ 1.5 billion worth

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

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

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

As shown in the graph above, the VORTECS ™ score for RGT climbed into the green zone and peaked at 77 on November 25, about 78 hours before the price rose 51.5% over the last few months. two following days.

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

Ampleforth adds a wrapper

Ampleforth is a rebase project hosted on the Ethereum network that uses an algorithm-adjusted circulating supply that aims to be the base currency of a decentralized economy that can remain decoupled from the price action of other cryptocurrencies.

Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $ 0.75 on November 22, AMPL’s price rose 87.5% to a daily high of $ 1.41 on the 30th. November.

4 hour AMPL / USDT chart. Source: TradingView

The rally appears to be tied to the release of wAMPL, an encapsulated version of AMPL that doesn’t change base and can be more easily used across the entire DeFi ecosystem.

The overall cryptocurrency market capitalization now stands at $ 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 trading move comes with risk, you should do your own research before making a decision.