Price: $0.31599 -5.994%
Market Cap: 46.55B 1.4016%
Volume (24h): 5.46B 0%
Dominance: 1.4016%
Price: $0.31599 -5.994%
Market Cap: 46.55B 1.4016%
Volume (24h): 5.46B 0%
Dominance: 1.4016% 1.4016%
  • Price: $0.31599 -5.994%
  • Market Cap: 46.55B 1.4016%
  • Volume (24h): 5.46B 0%
  • Dominance: 1.4016% 1.4016%
  • Price: $0.31599 -5.994%
Home > Information news > Shiba Inu (SHIB) and Dogecoin (DOGE) Lead Meme Coin Surge, Decoupling From Bitcoin

Shiba Inu (SHIB) and Dogecoin (DOGE) Lead Meme Coin Surge, Decoupling From Bitcoin

Release: 2023/08/13 18:00 Reading: 652

Original author：U_Today

Original source：https://coinmarketcap.com/community/articles/64d8a61809dfd67748868645

In recent crypto market movements, meme-inspired digital currencies, particularly Shiba Inu (SHIB) and Dogecoin (DOGE), have witnessed significant price ascensions.

Over the last four hours, these popular "meme coins" have shown an unexpected divergence from Bitcoin (BTC) and the broader altcoin market.

A report by Santiment indicates this pattern is rare, with the data insights provider suggesting potential historical signals behind such a trend.

The broader cryptocurrency market has exhibited mixed performance during the same time frame. Bitcoin, the dominant cryptocurrency, maintains a stable price of around $29,300, with minimal fluctuations in the past week.

Ethereum (ETH), the second-largest by market capitalization, has seen a slight increase, with its price pegged at $1,849.

Among meme coins, Shiba Inu (SHIB) stands out, registering a nearly 10% rise over the past seven days despite recent hourly declines.
The latest trend provides fodder for both sides of the crypto debate. Optimists view the meme coin surge as proof of the diverse growth avenues within the digital currency landscape, suggesting that not all coins move in tandem with market giants like Bitcoin. Conversely, skeptics argue that such volatile spikes, especially in meme-based tokens, signify the speculative nature of the crypto market and underscore the need for investor caution.

Notably, the meme coin rally came after Bitcoin's volatility dropped to historical lows, with the largest cryptocurrency struggling to move past the $30,000 mark.

Previous：PEPE’s Market Cap May Soon Rise Above $1 Billion Predicts Analyst Next：Litecoin and Monero stumble, DigiToads retains bullish momentum

Recent news

MORE>>

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.

Selected Articles

More>>