The crypto market has started rebounding today. However, the meme coins- Dogecoin ($DOGE) and Shiba Inu ($SHIB) have been dipping again. They were surging yesterday, but now the trend seems to be getting dead.
DOGE and SHIB Performance
Dogecoin ($DOGE), the meme-frenzy crypto, lost 14.16% at 7:21 a.m. ET, according to CoinDesk data. The token traded at $0.179 then. The market capitalization stood at $23.76 billion, down by 14.15%. The 24-hour trading volume was $564.06 million. Today, the coin is marked as the biggest loser on Binance and several other crypto exchange platforms.
DOGE had been dipping lately after the crypto crash took place at the beginning of this month. However, yesterday it had gained substantially but couldn’t keep the momentum. Moreover, it has gained a massive 3673.38% year-to-date.
Earlier last Saturday, DOGE tumbled from above $0.20 to as low as $0.12. Correspondingly its market capitalization dropped from about $28 billion to under $18 billion at one point. However, it had recovered substantially, and its price ranged between $0.16 and $0.18.
Shiba Inu ($SHIB), the Doge-killer, lost 3.73% at 7:32 a.m. ET, according to CoinDesk data. The coin traded at $0.000034 then. The market capitalization stood at $19.87 billion, down by 3.70%. Moreover, the 24-hour trading volume was $1.26 billion. The coin has beaten DOGE in terms of year-to-date returns. The token has skyrocketed by a whopping 43.49 million percent, the CoinDesk data shows. This means if you had invested $1 in Shiba Inu at the beginning of this year, you would have owned about $434,900 by now.
DOGE and SHIB’s recent surge
Yesterday when the entire market was falling, Dogecoin and Shiba Inu performed reverse and surged. Dogecoin was up by a massive 23.43% and traded at $0.2028. The coin broke the declining trend after Tesla CEO Elon Musk declared that the EV-giant Tesla will accept Dogecoin for merchandise. Further, Doge-inspired Shiba Inu gained 1.04% and traded at $0.00003495.