In spite of the crypto market panic set in motion last week, Shiba Inu and Dogecoin have shown that they can stand their ground. However, cutting down on the recent losses is not an easy task. Dogecoin has managed to regain close to 3%, and is now trading at $0.108 as of this writing. DOGE’s rival meme coin, Shiba Inu, is now trading at $0.00001561, and has regained approximately 6% of its value since the “dip.”
Shiba Inu Shows Survival Skills
Shiba Inu has recently shown signs of resilience against the turbulent tendencies of the crypto market. Shiba Inu (SHIB) initially had a slow start to the year, declining 70% in the first three months. It was a close call, but Shiba Inu, one of the cheapest coins on the crypto market, managed to crawl back from the verge of extinction. SHIB had started its 2022 redemption arc, experiencing modest levels of hourly growth, but the recent market crash saw Shiba Inu hit its lowest level in 7 months. Yesterday, Dogecoin (DOGE) also hit the rock bottom for the year before making a modest recovery.
Shiba Inu $SHIB attracts thousands of new holders despite price lossesSource: @CPOfficialtx https://t.co/NBs4IxDKZcDOGE Community Stays Optimistic— MILKSHAKE (@shibainuart) May 10, 2022
Considering that Dogecoin is backed by a group of very influential people, with Snoop Dogg and Ice Cube striking massive deals in DOGE just recently, the drop may not be much of a concern for the DOGE army. Bolstering these hopes, Founder and former CEO of Amazon (NASDAQ:AMZN) Jeff Bezos recently followed Shibetoshi Nakamoto, the creator of Dogecoin (DOGE), on Twitter (NYSE:TWTR). Other strong believers in the meme cryptocurrency assert that the recent drop is actually perfect for “everyone who wants to load up at a lower price before the big spike”.
Dogecoin falling is a good thing for everyone who wants to load up at a lower price before the big spike!— Matt Wallace (@MattWallace888) May 10, 2022
