$SHIB $DOGE The recent market correction has indeed impacted both Dogecoin (DOGE) and Shiba Inu (SHIB) significantly, with both experiencing sharp declines in their prices.

Dogecoin, despite its position as one of the top meme coins with a market cap over $21 billion, faced an over 8% decrease in price within the last 24 hours.

Additionally, its trading volume dropped by 47% compared to the previous day, indicating reduced investor activity. Despite a 75.8% increase in price over the past month, DOGE saw a notable 15.6% decline over the past week.

This decrease in value coincides with a significant sell-off by a whale, who offloaded more than $14 million worth of DOGE on Robinhood, potentially adding to downward pressure on the price.

Shiba Inu, another prominent meme coin, also experienced a downturn, with a 9.6% decrease in price in the last 24 hours and a more significant loss of over 26% over the past week. However, its performance over the past month shows a substantial increase of 163% in price, offering some consolation to long-term holders.

Notably, Shiba Inu has seen a shift in its long-term investor demographics, with on-chain data suggesting a reduction of 20,000 long-term investors in early March. The presence of long-term investors is crucial for the stability and growth of any cryptocurrency.

A decline in their numbers may signal bearish sentiment among both current and prospective investors, potentially contributing to the recent price dip observed in SHIB.

Overall, these developments highlight the volatility inherent in meme coins like Dogecoin and Shiba Inu, emphasizing the importance of careful analysis and risk management for investors in the cryptocurrency market.

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