Shiba Inu Closes Gap With Rival, Dogecoin, As Followers Surpass 3.33 Million

Shiba Inu and Dogecoin have been in one of the most bitter rivalries that the crypto space has ever seen. Not only do they compete in terms of returns but also in terms of community.

Timeline of Dogecoin, Shiba-inu

Crypto trading hamster “Mr. Goxx” (named after the now-defunct Bitcoin exchange Mt Gox) has returned after its social media accounts became active once again and started live-streaming his trades on Amazon's video-streaming platform Twitch. The hamster, which became well-known for outperforming many traditional investors including Berkshire Hathaway's Warren Buffett and the stock market's benchmark index S&P 500,

The number of entities holding popular memecoin Shiba Inu (SHIB) hit record highs during the recent crypto crash, as prices dropped to attractive levels. But the token also saw its whale holders fall drastically, a sign that the largest crypto holders may be losing faith in the memecoin.

Elon Musk, the world's richest person, has shown his support for Dogecoin (DOGE) in the past. From calling DOGE the “people's crypto” to revealing his Dogecoin holdings, Musk's actions had a significant impact on the meme coin in the last few years.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice After slackening due to market-wide liquidations, Dogecoin (DOGE) bears resurged around the Point of Control (POC, red). As a result, it saw a pullback below vital price points while breaking into high volatility.

The year 2020 was a great year for meme coins and a lot of new crypto millionaires were made, mostly those that invested in the SHIBA INU token. So far, the proclaimed DOGECOIN killer has matured into a stable and reliable project with practical use cases.

Shiba Inu price research analysis shows that the altcoin is still in a downturn, as Shib-bulls struggle to build the necessary momentum for a turnaround. As a result, the altcoin is anticipated to continue the downward trend in the coming days. However, as market volatility decreases, the resistance and support levels move closer together, making …

A bearish fallout from a yearly falling wedge pattern suggested the Dogecoin(DOGE) price witnessed a significant freefall. However, the lower price rejection at the retest phase puts a possibility on the cards and traps the aggressive sellers.

After a drop of nearly $500 billion in market cap, the cryptocurrency assets saw a recovery on Friday. However, Shiba Inu (SHIB) and Dogecoin (DOGE) lost momentum on Saturday along with other digital currencies.

Today's Shiba Inu price analysis displays a bearish movement in the market, and the market moves towards a negative direction, declining the price of SHIB significantly. After that, however, the cost of SHIB experienced a spike and increased to $0.00001420, from $0.00001060; on May 13, 2022, SHIB/USD lost momentum and obtained a massive decreasing movement.

BTC/USD Long positions on Bitfinex skyrocketed in the past couple of days and encouraged traders to believe that the local bottom was in for Bitcoin. BTC did indeed bounce from $28.8k to $30.8k but fell once more to trade at $29.3k at press time.