The cryptocurrency market, led by Bitcoin (BTC), is on the rise today, although it will not recover losses. Other altcoins are following bitcoin, but unlike most cryptocurrencies, memes seem to have dropped by about 1%. Popular meme tokens Shiba Inu (SHIB) and Dogecoin (DOGE) are moving forward thanks to these developments.
SHIB Development and Price
Shiba inu (SHIB) was able to show serious growth in the latest news of the Robinhood listing and increased it by 20%. SHIB, which last reached $0.00003 on April 12, continued its downward trend after that day. This causes the whales to take more of the meme token, which is their current focus. Over the past two days, whales have bought 171 billion SHIB, which corresponds to about $ 4 million. In addition, with these transactions, SHIB remains the cryptocurrency that whales hold the most in US dollars.
At the time of this writing, SHIB is trading at around $0.00002337, down more than 0.6% in the last 24 hours. For SHIB, $0.000024, which it last reached on April 25, marks an important resistance point, but SHIB does not seem to be able to break this important price resistance, although it tries from time to time. With such a decline, SHIB continues to fall by 11% on a monthly basis and seems unable to recover its losses.
DOGE Development and Price
Dogecoin (DOGE), the largest cryptocurrency meme token, has been able to achieve significant growth, especially due to the fact that Elon Musk owns Twitter. This move by Musk caused the growth of the cryptocurrency market and led to the fact that this meme token has almost grown compared to other cryptocurrencies. However, DOGE can no longer continue this increase.
At the time of this writing, DOGE is trading at $0.14, down about 1.5% in the last 24 hours. Although Musk’s move raises DOGE to $0.17, DOGE cannot fully protect this growth. However, looking at the historical data, it can be seen that last week the DOGE was below the resistance level of $ 0.14 and even fell to $ 0.12. Thus, although not around $0.17, DOGE seems to be rising as it remains above this key resistance level. In addition, DOGE is moving towards a monthly decline of 1%, practically zeroing out its monthly losses.
