After the hefty price gains in recent weeks, Bitcoin and Co. allowed themselves a break on Wednesday - with one exception.
Frankfurt / Main - Crypto currencies like Bitcoin came under pressure on Wednesday.
One exception was the new trend digital currency Shiba Inu, which was able to gain significantly.
Bitcoin, still the strongest crypto investment on the market, fell by around 7 percent to $ 58,100.
The second largest Internet currency, ether, also fell by around 5 percent to around $ 4,000.
About a week ago, the Bitcoin price had risen to a record high of almost $ 67,000.
The background to this was the initial approval of an exchange-traded index fund (ETF) on Bitcoin futures contracts in the USA.
Crypto connoisseurs had touted the event as a further step towards greater acceptance.
On Wednesday, however, the rather gloomy stock market sentiment weighed on other riskier asset classes, which include digital currencies due to their mostly high price fluctuations.
Shiba Inu: Dodgecoin competitor turns up
The market value of all currently around 13,000 digital systems is just under 2.5 trillion dollars. Shiba Inu has now risen to become the eleventh largest cryptocurrency. The still young digital motto is named after a Japanese dog breed and is based on Dogecoin, the tenth largest Internet currency in terms of market value.
Dogecoin emerged from the Internet fun image (meme) of a Japanese dog and has risen sharply in value.
Shiba Inu wants to compete with Dogecoin.
In contrast to many other crypto stocks, Shiba Inu gained 30 percent on Wednesday.
The trigger is an online petition calling on the US trading platform Robinhood, which is particularly popular among young investors, to offer Shiba Inu for trading.
There are now more than 300,000 signatories for the initiative.
Shiba Inu and Dogecoin draw their popularity not least from Twitter messages from Tesla boss Elon Musk, who repeatedly tweets about digital currencies.
(dpa)
