The recent market crash has shown that cryptocurrencies such as Dogecoin DOGE/USD and Shiba Inu SHIB/USD are on a recovery phase.
SHIB was up 20% last week and is trading at $0.00003750 at the time of writing. It is down 1.0% in the last 24 hours.
Shiba Inu, known as the Dogecoin killer, has been undergoing continuous development over the last few months, even as the crypto's price has been dropping.
Shibarium is a layer-2 solution first proposed by Ryoshi, the creator of Shiba Inu Coin.
DOGE, meanwhile has surged by more than 11% in the past seven days. It is trading at $0.189948 at the time of writing. It is up by 1.1% in the last 24 hours.
A recent tweet reflecting back to Christmas of 2020 shows that the price of Doge is up by 4,625% on this year's Yuletide.
The Dogecoin Foundation has recently announced its roadmap for 2022 including a re-design of its website, and a dedicated wallet launch for retailers to easily set up DOGE payments.
Tesla Inc TSLA CEO Elon Musk’s recent tweet about Dogecoin has given the crypto's price a boost.
In a Twitter thread, Musk replied to Dogecoin co-creator Billy Markus’ tweet, in which Markus wrote: “My goal is to build stuff and make money and have fun. I’m used to the corporate establishment and don’t really see any meaningful break away from it ~ bitcoin just gives power to new rich people.”
Musk replied, “That’s why I’m pro Doge.”
In October, Musk revealed why he decided to support Dogecoin. “Lots of people I talked to on the production lines at Tesla or building rockets at Spacex own Doge. They aren’t financial experts or Silicon Valley technologists. That’s why I decided to support Doge — it felt like the people’s crypto,” he explained.
Related Link: Chart Wars: Why Dogecoin, Ethereum Classic's Bullish Trends Could Snowball Over Holiday Weekend
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
