Market Uncertainty Causes Dogecoin and Shiba Inu to Experience Double-Digit Losses
Dogecoin and Shiba Inu, two popular meme cryptocurrencies, have seen significant losses in the past week amid a decline in interest in the crypto market. Dogecoin saw losses of 12.8% over the week, while Shiba Inu’s price is down over 11%. These meme coins have suffered significantly since the bear market began and are currently some of the worst performers in the market. However, they have garnered significant followings which may keep them alive. It is possible that they may put on a stronger performance in the next bull rally, but for now, investors should not expect upward momentum as their prices continue to move with the general market, which is currently bearish. Interestingly, not all meme coins have succumbed to the trend, with Dogelon Mars and Volt Inu seeing small gains. The total meme coin market cap has dropped to $17.7 billion, a 2.7% decrease in the last day.
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