ICP (Internet Computer) down 12.91% in the last 24 hours

Gate News Bot Message, November 12th, according to CoinMarketCap data, ICP (Internet Computer) is currently priced at $5.98, down 12.91% in the past 24 hours. The highest price reached $9.74, and the lowest dropped to $4.74. The 24-hour trading volume is $507 million. The current market capitalization is approximately $3.23 billion, a decrease of about $479 million from yesterday.

Recent important news about ICP:

1️⃣ Price Volatility with Significant Short-Term Fluctuations ICP’s price has experienced notable volatility over the past week. On November 9th, it reached a high of $8.99, with an 11.49% increase in 24 hours. However, it subsequently corrected and has now fallen back to $5.98. This sharp price fluctuation reflects high market attention to ICP and indicates increased short-term investment risks.

2️⃣ Trading Volume Continues to Rise, Market Remains Active ICP’s 24-hour trading volume has grown from $686 million on November 6th to the current $507 million. Although slightly lower than earlier levels, it remains high. The sustained trading activity suggests investor engagement remains strong, with sufficient market liquidity, but also possibly increased speculative activity.

3️⃣ Market Cap Rapid Growth Followed by Correction, Relative Stability in Ranking ICP’s market cap surged to $3.223 billion on November 6th, then continued to climb to $3.903 billion. Although it has now corrected back to $3.23 billion, this is still significantly higher than the $2.221 billion on November 3rd. This indicates that despite price fluctuations, ICP’s overall position in the cryptocurrency market remains relatively stable.

From a technical perspective, ICP’s price has pulled back after breaking through multiple key resistance levels. The MACD indicator may be showing an impending death cross, suggesting short-term upward momentum could weaken. Given the recent rapid rise and subsequent correction, investors should closely monitor whether the price can stabilize at the current level and remain cautious of potential further declines.

This message is not investment advice; please be aware of market volatility risks.