SHIB VS DOGE battle of meme coin won by
SHIB VS DOGE battle of meme coin won by
It’s not a secret that the sell-off on August 19 shocked the cryptocurrency market. People who don’t believe in the market keep saying that the macro environment is worsening. Many people lost money during the sell-off, including the owners of popular meme tokens like Shiba Inu and Dogecoin. Both coins were doing well up until the moment they fell.
At the time of publication, it is interesting that DOGE is still ahead of its competitor on the list of cryptocurrencies. When this article was written, Dogecoin was the tenth most valuable currency on the market.
On the other hand, the Shiba Inu went from being at the top of the food chain to be at the bottom. When this article came out, it was in the fifteenth spot, after dropping two spots over the weekend.
Shiba Inu, on the other hand, was not doing much better. It was worth $0.00001193, down 3.25 percent from the day before. According to CoinMarketCap, the value of the SHIB coin has also dropped by more than 7% in the last week.
Because of what happened on Friday, August 19. This has cut into traders’ profits. Santiment says that traders of both DOGE and SHIB are now in the red, but on the MVRV chart, SHIB is doing a little bit better than DOGE.
When this article was written, the MVRV (30-day) ratio for Shiba Inu was -11.81%, and the MVRV value for Doge was -17.32%.
What else is happening?
Even though the price of Dogecoin has been decreasing recently, there has been a clear rise in interest in it over the past few days. Based on how much social interaction each currency had in the week before, LunarCrush says that Dogecoin came in third. The Shiba Inu came in seventh place on a list of dog breeds.
The amount of dogecoin held by the top 100 BSC whales has been steadily increasing, as shown by recent changes to Whale Stats. When this was written, these whales had more than USD 5.58 million worth of DOGE. Also, the top 4000 BSC whales used DOGE more than any other smart contract in the last 24 hours.
In the meantime, the Shiba community is getting increasingly excited about releasing its Shiba Eternity game, which is coming soon. William Volk, one of the people in charge of making the Shiba Eternity game, has now confirmed that the game will be out in September.
The token price is still decreasing on the graph, which may make some investors feel good.
Meme coins are a type of money that can be used online. Meme coins stand out from other digital currencies because they are linked to well-known and influential people on the internet.
Like a world-famous sports team, they usually have a large group of (crazy?) fans who love them very much. Meme coins have shown people who don’t like memes that they shouldn’t underestimate the power of a loyal fan base.
Even though DOGE and SHIB are the two most popular meme coins, CoinMarketCap currently lists more than 200 meme currencies. Currently, open bitcoin code account is the greatest trading platform available, and it allows you to trade in Dogecoin as well as any other cryptocurrency.
You’ll find that many of them share these things:
Most of the time, they have billions or even quadrillions of dollars. The total number of coins for sale and moving around the market is called the “circulating supply” in the world of cryptocurrencies.
Because there are so many meme coins now, most of them are worth less than $1, like fractions of a penny. At the moment, one SHIB is worth $0.00002692.
Meme coins seem to have “low” prices, which is why many crypto traders are interested in them. They could have hundreds or millions of meme coins and then make up a story that the price will go up by a thousand or more.
This is why so many people use meme coins. Imagine buying 10 million coins for $100 each for $0.0001. The second step is to wait until the price goes to $1. You’d have $10 million!
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