Could this be the death of Meme coins? Both Dogecoin and Shiba Inu have had drops of over 60% of their all time high prices in 2022. Could they drop further or will they have a resurgence?
A meme coin frenzy took over the crypto market in 2021. Shiba Inu (SHIB) experienced the same immeasurable success as Dogecoin (DOGE), which slammed every competitor and became one of the top 10 digital currencies in the world. Shiba Inu, Dogecoin’s closest competitor in 2021, performed better than its counterpart. For a brief time, Shiba Inu’s market capitalization even surpassed Dogecoin’s.