{"id":34087,"date":"2022-08-22T05:30:59","date_gmt":"2022-08-22T09:30:59","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=34087"},"modified":"2022-08-22T05:31:02","modified_gmt":"2022-08-22T09:31:02","slug":"meme-coins-shib-and-dogecoin-loses-double-digits-over-the-week","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/meme-coins-shib-and-dogecoin-loses-double-digits-over-the-week\/","title":{"rendered":"Meme coins SHIB and Dogecoin loses double-digits over the week"},"content":{"rendered":"\n
SHIB and Dogecoin, two well-known dog-themed meme coins, have fallen by double digits this week as the crypto winter persists.<\/h5>\n\n\n\n
\"Meme
Meme coins SHIB and Dogecoin loses double-digits over the week<\/figcaption><\/figure>\n\n\n\n

According to information from CoinMarketCap, the price of Dogecoin (DOGE) is $0.065, down 5.2% over the last 24 hours.<\/p>\n\n\n\n

Following the debut of Dogechain, an independent blockchain constructed using Polygon Edge, a unique blockchain-building tool from Polygon, the leading meme coin had a significant increase last week.<\/p>\n\n\n\n

Dogechain adds EVM compatibility to the Dogecoin network\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, enabling programmers to build applications similar to those used by Ethereum.<\/p>\n\n\n\n

Following the news, DOGE surged over its 10-week high. However, Jens Wiechers, the president of the Dogecoin Foundation's legal and governance division, quickly asserted that Dogechain was unrelated to Dogecoin.<\/p>\n\n\n\n

\n

Claims in paid media that Dogecoin launched a "Dogechain" test network are false. Neither @Dogecoin<\/use><\/svg><\/span><\/a>\/@dogecoin_devs<\/use><\/svg><\/span><\/a>, nor @BillyM2k<\/use><\/svg><\/span><\/a>, @ummjackson<\/use><\/svg><\/span><\/a> or others associated with @DogecoinFdn<\/use><\/svg><\/span><\/a> are in any way affiliated with the token.<\/p>— \u2b22 Jens Wi\u00ebchers \u2b21 (@jwiechers) August 16, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

After the revelation, DOGE fell sharply, losing 12.4% during the previous week. According to statistics from CoinMarketCap, DOGE is down 90.95% from its all-time high of $0.7376 set in May 2021 due to weekly losses.<\/p>\n\n\n\n

According to data from Coinglass, nearly $1.56 million in DOGE<\/a> trades have been liquidated in the last day. 90.92 percent of the total liquidations were long positions.<\/p>\n\n\n\n

Elon's preferred cryptocurrency now ranks 10th in terms of market value with an $8.7 billion valuation.<\/p>\n\n\n\n

SHIB follows the depreciation of Dogecoin<\/h2>\n\n\n\n

According to data from CoinMarketCap, Shiba Inu (SHIB)<\/a>, the second-largest meme coin by market capitalization, has likewise experienced a 7.8% decline during the last day and currently trades at about $0.00001292.<\/p>\n\n\n\n

The last 24 hours saw a 30% decrease in SHIB trading volume. SHIB has lost more than 17% of its value on a weekly basis.<\/p>\n\n\n\n

According to data from CoinMarketCap, the meme coin has dropped 85.17% from its all-time high of $0.00008845 set in October 2021 due to a severely negative previous week.<\/p>\n\n\n\n

Over 1.2 million addresses currently possess SHIB,<\/a> up 0.015% over the last day, according to statistics from Etherscan, despite the week's dismal price action.<\/p>\n\n\n\n

In anticipation of the upcoming release of Shibarium, a layer-2 scaling product, SHIB and DOGE rallied last week. The product has not yet been released.<\/p>\n\n\n\n

The market valuation of SHIB, the 12th-largest cryptocurrency, is $7.04 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

SHIB and Dogecoin, two well-known dog-themed meme coins, have fallen by double digits this week as the crypto winter persists. According to information from CoinMarketCap, the price of Dogecoin (DOGE) is $0.065, down 5.2% over the last 24 hours. Following the debut of Dogechain, an independent blockchain constructed using Polygon Edge, a unique blockchain-building tool […]<\/p>\n","protected":false},"author":38,"featured_media":34095,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[157,645],"class_list":["post-34087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-dogecoin","tag-shiba-inu"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/meme-token-economy-suffers-after-crypto-market-dip-doge-and-shib-market-caps-lose-billions.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/34087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=34087"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/34087\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/34095"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=34087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=34087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=34087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}