As Shiba Inu (SHIB) appears to be facing a powerful resistance level known as the “Death Line”, investors have become increasingly concerned about the token's future. Many are wondering if the token may experience a drastic sell-off and drop even further if the support it has been facing holds steady. Although the ongoing trend sketches a potentially adverse outlook, the cryptocurrency market is highly volatile and changes can easily occur that can influence the token's trajectory.
Another event is shaking up the crypto landscape and garnering attention — Dogecoin (DOGE). The implementation of the DRC-20 standard has allowed for the creation and management of DOGE tokens, swelling the number of daily transactions to an all-time high of 650,000. This sudden surge has sparked attention in the cryptospace and has encouraged people to question the power of PoW blockchains.
Cardano (ADA) is meanwhile grappling with lack of robust market movements. The token is hovering around a reliable support level but doesn't appear to have the necessary fuel or catalysts to spark a marked price increase. This could be due to the incoherence of significant events, or 'ordinals', in the Cardano ecosystem, hindering interested investors from making noteworthy moves.
Rosalie White
- 2023-05-18
SHIB and DOGE Crypto Market Performance
This article looks at the current state of the Shiba Inu (SHIB) cryptocurrency and the possible consequences of its resistance to a powerful resistance level. We also examine Dogecoin (DOGE) and the rapid rise of its daily transactions, as well as Cardano (ADA) and its lack of notable market movements.
