- It’s been a rough start to the year for the crypto market.
- There is a feeling of optimism among lovers of meme coins despite the volatility.
Coins like Dogecoin, Shiba Inu, Floki Inu, and other tokens associated more with internet jokes than mainstream cryptocurrencies have taken the brunt of the recent price decline from the record highs set late last year.
It’s been a rough start to the year for the crypto market, with the overall market value dipping below $2 trillion, according to CoinMarketCap. Dogecoin is down about 80 percent from its all-time high of 74 cents in May, while Shiba Inu is down more than 65 percent from its record of fractions of a cent in October.
Whale Reports $3billion Worth of Transactions
SHIB’s present volatility was sparked by whales who initiated selling. Three billion dollars worth of cryptocurrency was shifted by a single whale into many accounts, causing panic in the markets. According to CoinMarketCap, today’s Shiba Inu price is USD 0.000028 with a 24-hour trading volume of USD 1,119,826,180. Shiba Inu has been down 3.79% in the last 24 hours.
According to CoinMarketCap, today’s Dogecoin price is USD 0.152262 with a 24-hour trading volume of USD 620,944,597. Dogecoin’s price has dropped by 2.95 percent during the past day. According to CoinMarketCap, today’s Floki Inu price is USD 0.000070 with a 24-hour trading volume of USD 15,345,461. Floki Inu has been down 10.02% in the last 24 hours.
There is a feeling of optimism among lovers of meme coins despite the volatility. Dog coin season might return in 2022 if these meme coins advancements, marketing, and popularity continue to be strong.
