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Shiba Inu vs. Dogecoin: Who Will Survive the Crypto Beatdown?

In spite of the crypto market panic set in motion last week, Shiba Inu and Dogecoin have shown that they can stand their ground. However, cutting down on the recent losses is not an easy task. Dogecoin has managed to regain close to 3%, and is now trading at $0.108 as of this writing. DOGE’s rival meme coin, Shiba Inu, is now trading at $0.00001561, and has regained approximately 6% of its value since the “dip.”

Shiba Inu Shows Survival Skills

Shiba Inu has recently shown signs of resilience against the turbulent tendencies of the crypto market. Shiba Inu (SHIB) initially had a slow start to the year, declining 70% in the first three months. It was a close call, but Shiba Inu, one of the cheapest coins on the crypto market, managed to crawl back from the verge of extinction. SHIB had started its 2022 redemption arc, experiencing modest levels of hourly growth, but the recent market crash saw Shiba Inu hit its lowest level in 7 months. Yesterday, Dogecoin (DOGE) also hit the rock bottom for the year before making a modest recovery.

DOGE Community Stays Optimistic

Considering that Dogecoin is backed by a group of very influential people, with Snoop Dogg and Ice Cube striking massive deals in DOGE just recently, the drop may not be much of a concern for the DOGE army. Bolstering these hopes, Founder and former CEO of Amazon Jeff Bezos recently followed Shibetoshi Nakamoto, the creator of Dogecoin (DOGE), on Twitter. Other strong believers in the meme cryptocurrency assert that the recent drop is actually perfect for “everyone who wants to load up at a lower price before the big spike”.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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Author

Tadas Klimasevskis is a blockchain journalist and content creator, focusing on the latest tendencies of the crypto world and digging deeper into specific innovations like music NFTs, gaming NFTs and Metaverse. Vast experience in social media lets Tadas quickly spot what’s going on in the crypto industry and deliver a story with a unique spin.