People call them a joke. People call them useless coins without any real life use case scenario. They call them a risky investment. Yes I am talking about Shiba, Dogecoin. People spend their lives learning technical analysis and trying to find the best setups in the market. Yesterday when the whole market was red but only a handful of coins were printing and those were meme coins. Coins like Doge and Shiba have gained the attention of retailers and as a result their prices have boomed up.
At the time of writing Dogecoin is being traded at the price of $0.3084. The price of Doge has increased by 28.61% in the past 24 hours. The trading volume has increased by almost 338%. This has placed doge on the 5th spot with the highest trading volume. The market capital has reached a value of $39.65B and is now on 9th spot on coinmarketcap.
If you thought Doge was the biggest meme. The next big thing that took over the internet and sucked all the money is Shiba. At the time of writing Shiba Inu is being traded at the price of $0.00007297. The price has increased by 12.05% in the past 24 hours. The fact that Shiba has taken up everything and now has taken the second spot in the 24 hour volume just below Tether is astounding. The coin has a trading volume of $42B and a marketcap of $39.64B standing at 10th spot.
But these coins aren’t the only ones that have shown a huge increase. Floki another coin has rallied 2100 times since July and now stands a price of $0.00020. It started as a joke. Some people are calling it a top signal but no matter what you say these two coins have definitely rose a lot. In fact this month alone Shiba is one of the top gainers and have shown an increase of about 898%. Doge and Shiba have definitely brought a lot of new investors in the market. Being the two of the most highest traded coins they surely have a lot of people invested in it. Some people are quite optimistic about the fact that this much money will eventually fly into other alt coins ultimately collapsing both of these but very bullish for the coins that have an actual use case in the future.