“Why Shiba Inu, Dogecoin, and ApeCoin are Surging Today: A Closer Look”

Following the collapse of Silvergate Capital last week, meme coins Shiba Inu, Dogecoin, and ApeCoin saw significant declines, as investors flocked to safe haven assets. However, as the broader crypto market has recovered, these meme coins have seen an impressive rebound, with Shiba Inu, Dogecoin, and ApeCoin surging 5.9%, 7.1%, and 10% respectively over the past 24 hours. The surge of these high-volatility tokens is in line with the improved sentiment among investors in higher-risk assets. These meme tokens tend to appreciate or decline to a greater degree than the overall market and are often viewed as high-beta proxies for an already volatile and risky asset class, which can manifest itself in an outsize way. Despite the recent rebound, these three tokens are still considered too volatile to own for long-term investors, given the ongoing market turmoil across most asset classes this week. Although confidence remains weak in the banking sector, the Treasury Department, Federal Reserve, and Federal Deposit Insurance Corp. indicated backing depositors of SVB Financial while taking control of New York’s Signature Bank. It is unclear whether the fallout from these bank closures will continue, and investors are advised to view the current market situation cautiously.

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About The Author

Niels I have been passionate about dogecoin since 2019, and have since become an avid follower and advocate of the cryptocurrency. I keep a close eye on the Dogecoin market and trends, and I'm always up-to-date with the latest news and developments. As a true believer in the potential of dogecoin, I am excited to be a part of the growing community and I'm eager to share my knowledge and experience with others. When not busy with dogecoin, I enjoy golf, and I can often be found on the golf course.

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