This is why Dogecoin and Shiba Inu are no longer as popular as they once were.

Because the market is presently focused on tracking the price swings of Bitcoin and Ethereum, other altcoins, like as Dogecoin, have seen significant gains. Investors may be looking for a way out now that these gains have begun to fade. 

Shiba Inu and Dogecoin are two of the most popular cryptocurrencies in the world.

The trend-drunk communities of these puppy-faced altcoins typically provide a lot of assistance. This is no longer the case. DOGE and SHIB both fell 21% and 22% in the last 11 days. Their investors took a hit as a result of the collapse.

Profitable addresses have been decreasing since the decline began, which has had a big impact on cryptocurrency markets. Shiba Inu owners have able to increase their profits from 15% to 50% in just a few years. However, as of press time, they had reverted to a loss situation, with 61 percent of addresses losing money. DOGE isn't far behind, having lost 300,000 lucrative addresses in the same time frame.

This isn't surprising, given that the majority of on-chain measures are currently pessimistic.

Is it worthwhile to invest in either of these coins?

The solution to this question is a little complex. The community's support for both meme coins remains strong. People are still invested in the project, and the mood is upbeat (though not as much financially). DOGE holders, on the other hand, have been worrying as selling has trumped the market.

Order books currently show a 70 million DOGE ($17.5 million) difference between selling and purchasing Dogecoin. Shiba Inus, on the other hand, are purchased rather than sold. OpenSea's recent announcement is a major motivating element behind our purchase. SHIB has officially become a viable payment option on the world's largest NFT marketplace. It's possible that this is the source of investor optimism.

To summarize, the market for the aforementioned meme-coins is not favorable, but Shiba Inu may have discovered a method to profit.


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