Wed. Feb 8th, 2023
The collapse of the market brought down the capitalization of coins-memes SHIB, DOGE by 30%

It seems that the fall of the cryptocurrency market continues, and all large and small altcoins participate in it, with the exception of individual stablecoins. Coins-memes also seriously suffered – over the past 24 hours, the total capitalization of the crypto-currency market of memes has fallen by a whopping 30%. Now this figure is about $ 16 billion. Interestingly, 24-hour trading volume is up 73% to $4.8 billion.

The most popular dog-themed meme coins, such as Dogecoin (DOGE) and Shiba Inu (SHIB), recorded a fall of more than 45% in a week. All the announcements and updates voiced by the teams did not stabilize the exchange rate and did not keep from the general collapse.

For example, the price of the largest cryptocurrency-meme DOGE has decreased by 90% compared to its historical maximum (ATH). Now Dogecoin is trading at an average price of $ 0.07, over the past 24 hours its price has fallen by 15%. Shiba Inu, the second largest token-meme, fell by 26% over the day and traded at a price of $ 0.000010, however, the trading volume increased by 36% to $ 1.6 billion in 24 hours.

During this time, the ETH whale took advantage of the price drop to purchase SHIB worth over $2.3 million.

By Isrobit