SHIBA INU COIN NEWS TODAY: ”MEME COINS DOGECOIN, SHIBA INU FAIL TO MAKE TOP 10 DESPITE RECOVERY..” (CRYPTO)
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Coins made by Meme Following their recovery, Dogecoin and Shiba Inu didn’t make the top 10.
It’s been a good time for digital assets like Dogecoin and the Shiba Inu to get back on their feet. These two things both hit points they hadn’t seen in months after the crash, but they’ve since made up some of the money they lost. To be clear, Dogecoin and Shiba Inu are still a long way from their all-time highs. They have lost more than 50% of their value in the last few weeks. However, with the recent rise in prices, both assets have turned green again.
With the rise in value, there has also been a rise in market value. In the past, both of these digital assets were among the top cryptocurrencies by market cap. They have since lost that title. In fact, even though their values have gone up, their total market cap isn’t the same. Both cryptocurrencies have lost their places in the top 10 list of cryptocurrencies.
Shiba Inu Market Cap and Dogecoin Market Cap both fell in value.
It was at the peak of the meme coin rallies that both Dogecoin and Shiba Inu saw their market value soar into the tens of billions. They had both passed the $40 billion market cap mark, which put them both in the top 10 cryptos by market cap right away. A lot of people were excited about dog-themed coins and they kept going up. At one point, both of these coins were always on this list.
However, the hype around these assets had started to die down because they had grown too quickly in such a short time. In the opposite way, there was no real use for either of these digital assets to justify their prices, so the decline had already begun.
Calls were made to get the value of Dogecoin to $1. It had reached an all-time high above $0.70. You can’t do this, since the downtrend that came after was a long one. It’s still felt even now. It had been through a lot of market crashes and dips, and Dogecoin’s price had dropped to as low as $0.12. It now has a market value of $21 billion, which puts it in 12th place on the list.
As for SHIB, even though it had been hit hard, it has fared better than Dogecoin in the recovery department. On the weekly chart, Shiba Inu has since jumped out of its monthly low of $0.00002, which is a 63% rise. This has caused its value to rise back up to $17 billion, which is what it was before. Not enough to make it into the top 10, so it now stands in 13th place.
There have been no meme coins in the top 10 for a long time now. No one from Dogecoin or Shiba Inu has been able to get back into the top 10 for more than two months now.
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