The dog-faced meme coins Dogecoin (DOGE) and Shibainu (SHIB) plunged amidst the recovering cryptocurrencies. On Wednesday, before Thanksgiving, Dogecoin did not seem thankful to the investors and sank to the lowest in a month value.
Shiba Inu dropped a lot, taking the 24-hour drop to 7.08% and the weekly decline to over 20%.
The crypto market has been plunging for the last few weeks, and Bitcoin also went back to $56k from the highs of $69k. However, most cryptocurrencies like Ether (ETH), Binance Coin, Tether, etc., are back on their way and are slowly rising.
Earlier, the dogecoin glitch in finance also caused a blow to doge, and the coin acted volatile. Because of the nascent crypto market, it is tough to predict as the market is usually very volatile.