As a result of a catastrophic crypto crash the past week, all of the top cryptocurrencies had plunged in value.
While some tokens had recovered from their price slump and new emerging altcoins are gaining value, the recent crash continues to take its toll on two prominent cryptocurrencies. Dogecoin and Shiba Inu prices continue to languish in the doldrums.
Dogecoin, Shiba Inu Prices, Market Capitalization Continue to Drop
DOGE and SHIB fell off the top 10 cryptocurrencies list as their value and market cap continue to drop. On Thursday, Dogecoin is trading 4.14 lower at $0.171660, while Shiba Inu has slid 4.8 percent to $0.00003521 in the last 24 hours, as per CoinGecko real-time figures.
Because of this, Dogecoin tumbled to number 11 in the top cryptocurrencies list as tracked by Coinmarketcap with a market capitalization of $22,725,436,034. It was replaced in the top 10 by Terraform Labs' Luna coin, which is now valued at $25,668,979, 531. Shiba-Inu, meanwhile, dropped to number 13 with a market cap of $19,247,265,371.
As their popularity among investors seem to be fading, two new meme coins are achieving double-digit gains. Hamster (HAM) increased by 70 percent overnight, while Shar Pie (SHARPIE) surged 118 percent over the last 24 hours, FX Street reported. These new altcoins seem to be taking over DOGE and SHIB's dominance due to their higher gains.
While it seems these dog-themed tokens are losing value, analysts still predict that they would recover from the slump in the coming days. FX Street said Shiba Inu would recommence its uptrend while it increases its bullish momentum. It also forecasted that Dogecoin would make a grand return and hit $0.30 as it forms a triple bottom, wherein bulls would take control of the price action over the bears while the DOGE price breaches resistance.
Dogecoin, Shiba Inu Price Prediction: Bulls Prepare for Next Rally
After the flash crash, bulls are seemingly preparing for the next rally. However, if it fails to keep a bullish momentum, then it may lead to a retracement or a change in direction of the price movement. This correction could take DOGE to go below $0.158.
But for Shiba Inu, things are really looking up, as analysts see it as an "awesome" long -term investment, Capital.com stressed. Its price is expected to break out at $0.000039 at the start of 2022 and even reach as high as $0.0001 by the end of next year.
Bitstamp Lists SHIB, After Dismissing Dogecoin
In addition, SHIB gained a coveted listing from the Luxembourg-based Bitstamp, which will enable users to trade Shiba Inu against the U.S. dollar and the Euro, Crypto Potato reported. After previously dismissing Dogecoin in its exchange, Bitstamp began deposits and withdrawals for SHIB last Wednesday. By December 9, Thursday, users were also allowed to place and cancel limit orders.
Bitstamp likewise began order matching as it executes trades using SHIB. It also facilitated all order types and card procurement for the current crypto trading pairs.
