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Why Did Dogecoin and Shiba Inu Fall So Hard from Their 2021 Peaks? Which Crypto Will Replace Them in the Next Bull Rally?

Release: 2024/09/29 20:31 Reading: 761

Original author:Crypto Daily™

Original source:https://cryptodaily.co.uk/2024/09/why-did-dogecoin-and-shiba-inu-fall-so-hard-from-their-2021-peaks-which-crypto-will-replace-them-in-the-next-bull-rally

Why Did Dogecoin and Shiba Inu Fall So Hard from Their 2021 Peaks? Which Crypto Will Replace Them in the Next Bull Rally?

In 2021, Dogecoin (DOGE) and Shiba Inu (SHIB) emerged as popular meme coins. Dogecoin, initially created as a joke, gained support from influential figures like Elon Musk, leading to significant price volatility. Shiba Inu, positioned as a "Dogecoin killer," experienced speculative growth driven by FOMO (Fear of Missing Out).

However, as Dogecoin and Shiba Inu reached their 2021 peaks, early investors initiated profit-taking, triggering extensive sell-offs. This, coupled with market saturation, resulted in substantial price declines.

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