SHIB, DOGE and BabyDoge showing strength on unstable crypto market
Many treat them derogatoryly, many consider them a fun toy, and many identify them with memes, but the fact remains that the communities in these rooms are so huge that they call themselves armies. We are talking about Dogecoin (DOGE), Shiba Inu (SHIB) and BabyDoge. And while the first two are the most entrenched participants in the crypto market, BabyDoge is not on this list as a passenger, having celebrated its first super-successful year since the project was born in June 2021.
How are these popular coins performing in times of total volatility and extreme fear on the crypto market? In short, better than expected, reacting to fundamental events on par with their more serious market competitors. Let’s review their charts in detail.
Dogecoin (DOGE)
Failed Twitter buyer Elon Musk’s favorite coin continues to trade in the $0.049-$0.07 range DOGE fell back into on June 11. The upper boundary of the $0.07 price range is a very strong and historical level for the coin, where it started its crazy ascent in April 2021. Despite the fact that DOGE reflected all market shocks on one foot on par with everyone else, there can be no talk of any particular interest until the price settles above $0.07.
Unfortunately or fortunately, the news of Musk’s purchase and the breakdown of the deal to buy Twitter had no serious impact on DOGE quotations.
Shiba Inu (SHIB)
Shiba Inu does much the same as Dogecoin. SHIB fell into its trap in May, being stuck between $0.00000953 and $0.000014. At the same time, the coin also saw a serious drop in June against a very negative bottom, but it managed to recover quickly and return to its price corridor, which already annoyed the SHIB army a lot.
In positive news, we can mention the fact that Shiba Inu received its first listing on U.S. exchange, Bittrex, as well as the fact that SHIB whales are consistently increasing their positions.
BabyDoge (BABYDOGE)
BabyDoge feels better than its older counterparts. While most of the coins started their fall in April-May, BabyDoge, on the contrary, stopped its long decline in the middle of this period and, since then, shows a growth of 49%. At the same time, BabyDoge wasn’t spared the infamous June drop, but it managed to recover quickly and is now trading quietly in the middle of its global price corridor, awaiting news.
Among the news about BabyDoge is the news of the colossal burning of 50 quadrillion coins, as well as regular purchases of it by whales.
