Here’s What’s Next For The Top 2 Meme Coins As Crypto Market Stumbles!
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With the price of Bitcoin plunging toward its $58,000 mark, the memecoins have lost momentum and recorded significant correction in their respective portfolios. Further, some mid-cap memecoins have experienced a double-digit drop during this period.
Amid current market situations, questions like “Is this the right time to invest in memecoins?” and “Is memecoin a good investment?” are on a constant rise.
Let’s take a look at the market sentiment, price analysis, and the possible short-term price targets of the Dogecoin (DOGE) and Shiba Inu (SHIB) memecoins.
Dogecoin (DOGE) Price Action:
Despite recording a correction of 1.61% within the past day with a trading volume of $666.125 Million, the DOGE price has recorded a jump of 32% within the past week and has rewarded its long-term investors with a Year-to-Date (YTD) return of 19.64%.
Shiba Inu (SHIB) Price Action:
Amid increased bearish sentiment in the crypto space, the Shiba Inu price has dropped approximately 3% within the past 24 hours. Furthermore, this memecoin has recorded a 24-hour High/Low of $0.00001413 and $0.00001331. With a market cap of $8.26 Billion, it has secured 13th position.
