DOGE v. SHIB – Before you invest, know where their liquidity ranks

Although a large part of the crypto community considers memes to have little to no utility, Dogecoin DOGE and Shiba Inu SHIB have proven to be of service in other areas. One space where these dog-themed cryptocurrencies have continued to excel in is ‘liquidity.

Timeline of Dogecoin, Shiba-inu

Chainlink rallied to a three-month high during Thursday's session, despite a red wave sweeping through cryptocurrency markets. Today's surge came as the token broke out of a key resistance level. Dogecoin, on the other hand, was victim to today's market sell-off, falling to a ten-day low in the process.

The price of the Shiba Inu token has fallen by more than 7% in the past two days, after rising by more than 28% since the beginning of February. While SHIB's price has gone down along with the crypto market due to a general correction, there have still been entities buying the token.

Data shows that Shiba Inu is the number one cryptocurrency in the market based on the growth of its Telegram community. Shiba Inu Tops The Telegram Community Growth List As per data from a crypto analytics service on Twitter, SHIB currently has the fastest Telegram community growth in the market.

Dogecoin, the popular meme currency, has seen a series of large transfers worth approximately $10 million, but the destination of the funds remains a mystery. The last transaction received by the Dogecoin whale contained $883,000 worth of DOGE coins and marked the end of a series of large transfers.

A popular crypto analyst believes traders are starstruck by the rise of Shiba Inu (SHIB) and sleeping on Dogecoin (DOGE). Pseudonymous analyst Smart Contracter tells his 220,200 Twitter followers that the ninth-largest crypto asset by market cap is now showing strength when paired against Bitcoin (BTC).

Even though the crypto market opened the year on a bullish note, the start of February has not been a smooth ride. In the last seven days the crypto market led by Bitcoin has experienced a major pull back.

A pseudonymous crypto analyst said on Twitter that he is confident that Dogecoin (CRYPTO: DOGE) is about to ‘rage pump'. What Happened: At the time of writing, DOGE was trading at $0.088, down 3.79% in the last 24 hours.

Shiba Inu Coin News: Among the latest updates by the Shiba Inu team is the launch of the layer-2 scaling solution, Shibarium. According to recent updates, crypto analysts believe it will solidify the $SHIB reputation in the crypto market.

Anticipation for the launch of Shibarium has officially reached its peak with CoinMarketCap noting 1.3 million wallets holding SHIB. The token has seen a gradual increase since the start of the month, with Shiba Inu ushering February with 1.2 million wallets.

Meme coins have been around for a long, but they acquired popularity and attention in 2021, when celebrities like Elon Musk and Mark Cuban pushed Dogecoin, the first meme coin, which was launched in 2013. Numerous meme currencies have emerged since then.