Memes are funny, but the meme-coin business is not funny anymore. The crypto market has been registering a spectacular performance ever since the banking crisis in the US came to light. Bitcoin, the top cryptocurrency in the market, tapped a 9-month high-value last week. Ethereum on the other hand breached the $1,800 mark multiple times to show its resilience to the current global economic crisis. Although people across the world started to use cryptocurrencies as a shield against the banking crisis in the US, it seems that the meme-coins like Dogecoin and Shiba Inu have failed to shine utilizing this crypto-friendly market trend.
Shiba Inu Failed To Rebound
Can you believe that the second-largest meme-coin in the market has failed to shine in the ongoing bull run? Shiba Inu recorded a 3% dip in its price over the past seven days.
Shiba Inu is a blockchain-based decentralized finance system built on the Ethereum blockchain. It features Shiba Inu, a Japanese breed dog as its mascot. The Shiba Inu ecosystem is powered by its native token called SHIB. Launched in 2021, Shiba Inu managed to achieve its all-time high value in October 2021 despite the covid-induced economic slowdown. The Shiba Inu ecosystem includes Shiba swap which provides a safe place to trade cryptocurrency, the Shiba Inu incubator which focuses on the art forms such as paintings, photographies, etc., and Shiboshis, a group of 10,000 non-fungible tokens written on the Ethereum blockchains.
Despite offering all these features Shiba Inu is still struggling to utilize the ongoing bull trend in the crypto ecosystem. Shiba Inu has been having a tough time managing its market volatility ever since the crypto-friendly Silvergate bank admitted its bankruptcy crisis. Shiba Inu’s price began to fall further after the bank announced its decision to wind down operations. Although the US government’s intervention in bailing out the banks helped the crypto market to rebound, Shiba Inu couldn’t bounce back to its previous position in early February.
Over the past 30 days, Shiba Inu witnessed a decrease of 18.4% in its price. Over the past 7 days, it registered a 3.4% fall in its value.
But the new announcement from the Shiba Inu ecosystem about the launch of a brand-new SHIB metaverse onto its layer-two blockchain Shibarium is expected to bring some demand to its highly volatile market.
Floki Inu Price Slips 16%
Floki Inu, a meme-coin, that gained more than 400% rise last month and entered into the list of top 100 cryptocurrencies by market capitalization, is now struggling to reclaim its lost glory.
Floki Inu witnessed a colossal surge in its price in mid-February due to a Twitter post published by one of the world’s richest men, Elon Musk. The hype created by the post continued for more than 15 days until the Silvergate bank crisis hit the crypto market.
Floki Inu started to fall further as the banks in the US collapsed subsequently. As a result, Floki recorded a 16% dip in its price over the past thirty days. Even after the US government stepped in to save the banking sector, the Floki Inu couldn’t rebound. It further registered a 6.3% decrease in its price over the past 14 days.
Dogetti Sets New Trend
Although the pioneers in the meme-coin market failed to rise in the bull run, Dogetti, a new member of the canine pack, is recording an exciting performance in its presale stage.
Dogetti has already raised more than $6.20 lakh in the second stage of its presale. While the meme-coins are struggling to recover from the bearish market to join the bullish trend, Dogetti announced a 50% bonus to its investors that changed its course.
Dogetti announced that it would give a 50% bonus to all investors who use the secret family code DON 50. This means an investor who spends $100 to buy DETI tokens will receive extra DETI tokens worth 50 dollars.
Besides this new offer, Dogetti has some other features that have already caught the attention of crypto enthusiasts and investors. Dogetti ecosystem includes DogettiNFT which gives access to unique NFTs in the market and a chance to breed them in the future, DogettiDAO that gives Dogetti family the right to vote on the proposals to bring changes that could develop the project, and DogettiSwap enables the investors to swap ERC20 tokens.
Although Dogetti imposed a 6% tax on every transaction, its tokenomics justified the tax system. Dogetti has promised to spend 2% of the tax on charities. Another 2% will be redistributed to token holders. This means investors will receive extra tokens in their wallets simply by holding them. The remaining 2% of the tax will be split between liquidity and burn wallets to ensure the long-term stability of the project.
All these features combine to make Dogetti a safe investment option amid this banking crisis. Click the link below to learn more about Dogetti.
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