Shiba

Dogecoin

Shiba Inu

Status

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/investors-watch-doge-and-shib-trends" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Watch DOGE and SHIB Trends</a><br></p>
<p style="text-align: justify">DOGE and SHIB, the foremost meme coins in the cryptocurrency sphere, continue to dominate the meme coin market. DOGE, the original meme coin, has witnessed SHIB emerge as a major competitor, often dubbed as the “DOGE killer.” Despite their rivalry, <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> maintain a keen interest in the developments surrounding these cryptocurrencies.</p>
<h2 id="current-status-of-doge-and-shib">Current Status of DOGE and SHIB</h2>
<p style="text-align: justify">Recently, Shiba Inu (SHIB) and Dogecoin (DOGE) have experienced significant losses as a result of <a href="https://en.bitcoinhaber.net/bitcoin-reserves-drop-on-exchanges" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s decline. The surge in meme coins observed in March has now transformed into a downward trend. Over the last 24 hours, the meme coin market shrank by 1%, decreasing from over $68 billion last week to $49.2 billion. This has sparked substantial discussion within the market.</p>
<p style="text-align: justify">The market contraction during this period was majorly driven by exits from Dogecoin and Shiba Inu. While some smaller meme coins have gained, large-cap coins like DOGE and SHIB saw reductions, indicating that investors are beginning to withdraw their positions in meme coins.</p>
<h2 id="doge-and-shib-price-outlook">DOGE and SHIB Price Outlook</h2>
<p style="text-align: justify">Analyzing the price trends, Dogecoin experienced a minor 0.14% decrease today, settling at $0.1242. A weekly <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">review</a> highlighted a 6.24% drop in DOGE, extending to over 20% on a monthly scale. This price decline aligns with the ongoing bearish trend in the market. Concurrently, DOGE’s daily trading volume dipped to $594 million, and its market cap fell below $18 billion.</p>
<p style="text-align: justify">Similarly, Shiba Inu, the second-largest meme coin by market cap, marked a 2.21% daily decrease. Over the past week, SHIB’s value dropped by 11.88%, reducing its market cap to $10.49 billion. SHIB’s trading volume was recorded at $288 million. The focus remains on the decreasing supply due to burn events, although over 589 trillion SHIB remain in circulation, which continues to pressure the price.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">– Consider the current bearish trend and its impact on major meme coins like DOGE and SHIB.<br> – Monitor trading volumes as an indicator of market sentiment and potential price movement.<br> – Pay attention to the effects of coin burns on SHIB’s supply and price dynamics.<br> – Assess the performance of small-cap meme coins for potential investment opportunities.</p>
<p style="text-align: justify">In conclusion, the ongoing trends in DOGE and SHIB underscore the volatility of meme coins within the cryptocurrency market. Investors should stay informed and consider these factors when making investment decisions.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/investors-watch-doge-and-shib-trends" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Watch DOGE and SHIB Trends</a></h5>

Investors Watch DOGE and SHIB Trends

Table of Contents

BH NEWS

Other articles published on Jun 21, 2024

Digital Philanthropy – How Cryptocurrencies are Transforming Charitable Giving?

Beercoin Down by 80%: Party Seems To Be Ending for Solana-Based Meme Coin

Short sellers target XRP: What will happen to the struggling altcoin?

Hamster Kombat Price Prediction At Launch – Next Axie Infinity?

Fantom allocates $120M in FTM tokens for Sonic migration

CyberConnect Empowers Users with Full Control Over Their Data

Join our free newsletter for daily crypto updates!