Dogecoin Price Gains

Dogecoin Price Gains While Shiba Inu Gives In To Downtrend

The crypto market is again in the ‘red’ but Dogecoin (DOGE), the King of meme coins, is acing the race as of now. The Dogecoin price has been surging amid volatile and bearish conditions, which is indeed notable. Also, the fact that Shiba Inu succumbed to the downtrend of the crypto market makes this latest crypto news a bit more newsworthy.

What Are DOGE And SHIB?

According to the Dogecoin CoinMarketCap page, it is:

“Based on the popular ‘doge’ Internet meme and features a Shiba Inu on its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013. Dogecoin’s creators envisaged it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience since it was based on a dog meme. Tesla CEO Elon Musk posted several tweets on social media that Dogecoin is his favorite coin.”

The Shiba Inu official website states that it is:

“The ‘DOGECOIN KILLER’ and is listed on their own ShibaSwap, a DEX. Shiba Inu coin was created anonymously in August 2020 under the pseudonym “Ryoshi.” Ryoshi says about himself that he is a nobody and not important and that the efforts to unmask his identity, even if successful, would be underwhelming.

This meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and tweets from personalities like Elon Musk and Vitalik Buterin. Vitalik Buterin was long believed to be the originator of Shiba Inu, but denied such rumors on the Lex Fridman podcast on June 5, 2021.”

Dogecoin Price Today

Dogecoin (Doge) 1D Chart (Source: CoinMarketCap)

According to CoinMarketCap, the Dogecoin price was up by 6.72% and traded at $0.08109 at the time of writing on Friday, October 27, 2022. The Dogecoin market cap stood at $10.75 billion, up by 7.22%, thus, crossing the $10 billion mark! Moreover, the 24-hour trade volume was up considerably by 24.10% and was at $2.6 billion. The day’s peak was recorded at $0.08483 and the 7-day gains of the coin stood at a huge 38.95% despite crypto crash sessions. Further, the 7-day chart shows how Dogecoin had been gaining all this while.

Shiba Inu Price Today

Shiba Inu (SHIB) 1D Chart (Source: CoinMarketCap)

The Shiba Inu coin future expectations can be downscaled seeing its recent performance as it lost significant value during the day’s bearish sessions. The SHIB token was down by 2.58% and traded at $0.00001063 at the time of reporting on Friday, October 27, 2022. The market valuation of this crypto stood at $5.83 billion, down by 2.48%. 

Further, the 24-hour trade volume for SHIB was down by 26.06% as it was recorded at $510.16 million. However, the 7-day chart provided shows how the initial gains of the SHIB token aided it to stand at a green in the weekly performance as it rose by 8.47% in the past seven days.

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