BitcoinBTCCryptocurrency EducationLINKNewsSHIBSOL

Massive Bitcoin (BTC) Volatility, Solana (SOL) Meme Coins Resurgence, Shiba Inu (SHIB) Developments: Bits Recap Jan 10

2 Mins read


  • Bitcoin experienced a significant price surge above $47,500, influenced by a tweet from the US SEC about a spot BTC ETF, which turned out to be fake.
  • Solana-based meme coins Bonk Inu (BONK) and dogwifhat (WIF) showed notable market movements, with BONK’s market capitalization briefly exceeding $1 billion and WIF experiencing a significant price increase.
  • Shiba Inu, a prominent meme coin, saw a dramatic rise in its burn rate and achieved milestones in its layer-2 blockchain solution, Shibarium, with significant increases in total transactions and blocks.

Bitcoin’s Price Swings

The primary cryptocurrency made the headlines several hours ago, with its price jumping above $47,500 (per CoinGecko’s data) for the first time since the beginning of 2022. This happened following an X (Twitter) post from the US Securities and Exchange Commission (SEC) indicating that the regulator has approved the launch of a spot BTC ETF. 

However, the asset’s value quickly headed south after the agency’s Chairman – Gary Gensler – clarified that the listing and trading of spot Bitcoin exchange-traded products had not received a green light, adding that the X account was compromised. 

Currently, BTC is trading at approximately $45,600, with the rollercoaster triggering multi-million liquidations. 

Meanwhile, an eventual approval of a spot BTC ETF in America remains an option, and some expect to see the product live in the following days.

BONK’s Revival and WIF’s Volatility

The popular Solana-based meme coins Bonk Inu (BONK) and dogwifhat (WIF) have also been in the spotlight in the past few days. The former followed SOL’s uptrend, with its value soaring substantially on January 9.

It kept up the solid pace today (January 10), registering gains of 12% for the past 24 hours while its market capitalization briefly surpassed the $1 billion mark.

BONK Market Capitalization
BONK Market Capitalization, Source: CoinGecko

For its part, WIF exploded by nearly 90% on January 9, reaching the $0.15 mark. Despite slightly retracing to its current level of $0.13, the token’s price is still 12% up on a weekly basis.

Shiba Inu’s Latest Achievement

Shiba Inu (SHIB) saw its burn rate spike by almost 1,000% on January 9, resulting in over 33 million assets removed from circulation. The stats for today (January 10) are even more impressive – a 27,500% burn rate increase and more than 9 billion tokens destroyed.

The advancement of Shiba Inu’s layer-2 blockchain solution – Shibarium – is also worth mentioning. The network, which officially saw the light of day in August last year, blasted through numerous milestones. For example, total transactions on Shibarium exceeded 250 million, whereas total blocks climbed above 2.5 million.

Those willing to learn more about the feature and understand its main purposes and specifics could take a look at our dedicated video below:


1409 posts

About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
Related posts

Indonesia's presidential elections pose uncertainty for the thriving cryptocurrency industry

1 Mins read
Indonesia, has emerged as a formidable player in the global cryptocurrency space in recent years. However, the nation’s upcoming general elections in…

Understanding the Cryptocurrency Boom - Dogecoin Climbs Due to X Payment Integration, While Stellar and BNB Also Experience Growth

1 Mins read
The cryptocurrency market has been experiencing notable gains over the past few days. This is led by an unexpected and surprising spike…

Crypto Entrepreneur Charged with Defrauding Investors Out Of $150 Million Through Marketing Scheme

1 Mins read
Federal prosecutors have charged a German businessman with securities fraud, wire fraud and money laundering for allegedly scamming over 150 investors out…

🚀 Ailtra Crypto Bot Earned $8.9M Million in 7 Months with 0% Loss!

🚀 Ailtra generated $7.4 in 7 months only!

Unlock 20-75% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 31st March an AI Crypto Bot boasting 20%-75% monthly gains and $7.5M earnings in 7 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,000 spots are available in first phase – claim yours fast! 🔥 will not disclose your account information to any 3rd parties.