Shiba Inu Recovers Faster Than Dogecoin After The Recent Crypto Crash

Shiba Inu recovers faster than Dogecoin did after the recent crypto crash as both of them fell hard at the start of the week so let’s have a closer look at today’s latest altcoin news.

Shiba Inu recovers faster than DOGE and is up by 6% in the past 24 hours after Modany’s wider market decline. The rival meme coin DOGE hasn’t seen much price action and it only increased by 1% at the time of writing. The crypto market is showing a little bit of life today after the dramatic collapse a few days ago and mos coins shed up to 10% of their value.
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The market is up a few percentage points today and when it comes to the meme coins, Shiba inu is rising faster and higher than DOGE.

shib price — SHIB 24-hour Price Chart (Source: Coingecko)

Shiba Inu is up 5% over the past day as of the time of writing and as the data from CoinGEcko shows. DOGE on the other hand is up by 1% and trades at a price of $0.109833. But what is triggering the latest SHIB price action? There’s no obvious sign like a tweet or an announcement from the creators but it is possible that Shiba Inu simply fell harder amid the wider market crash and then bounced back harder as a result. The meme coins are volatile and can swing in value in either direction even when they are tradign at a fraction of a penny.

Shiba Inu weathered the tougher losses as of late and it is down by 21% over the past week and 33% over the past 30 days so comparing that to DOGE, it shed about 16% of the value in the past week and 23% in the past month. Both of the coins lost a huge chunk of value since setting their peak in 2021 but Shiba Inu dropped 81% in value since the October ATH while DOGE is down by 85% since the peak in May 2021 ahead of the wider market crash. Compare this to the leading cryptocurrencies like BTC and ETH which are down by 55% and 52% respectively from their highs in November.

doge price — DOGE 24-hour Price Chart (Source: Coingecko)

Shiba Inu hit a seven-month low a day ago during the market crash while DOGE is down to its lowest point in more than a year which is since April 2021.

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