The cryptocurrency markets are trading flat this week as Bitcoin is holding strong at the $25,000 level. Leading altcoins and meme coins, which were expected to rally, are displaying disappointing numbers in the charts. The development has dampened the mood of cryptocurrency investors, as tokens are not living up to their potential. Investors had high hopes for XRP, Shiba Inu, and Dogecoin, but the three tokens barely rallied despite receiving positive feedback.
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XRP, Shiba Inu, and Dogecoin’s Performance
Ripple’s native token, XRP, has been in the red for four consecutive days this week and is struggling to climb above the $0.50 mark. The dip comes even after Ripple won the lawsuit against the SEC, where the judge declared that XRP is not a security. The development gives a reality check to investors that no amount of good news can make a token rally in bear markets.
On the other hand, Shiba Inu released its much-awaited layer-2 solution, Shibarium but the project failed to make SHIB spike. It’s been nearly three weeks since the release and Shiba Inu has mostly traded in the red since then. SHIB is limping and is unable to delete its fifth zero and get back to its usual price of $0.00001.
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Additionally, SHIB’s rival, Dogecoin, failed to rally even after Elon Musk’s X received licenses to allow users to transact cryptocurrency. Dogecoin usually registers an uptrend, whenever a positive development comes but this time remained trading flat in the indices. The leading meme coin is now among the least-performing cryptocurrencies of the year.
In conclusion, cryptocurrencies XRP, Shiba Inu, and Dogecoin delivered nothing but losses to investors in Q3. The development highlights that no development could catapult a token’s price to new heights when the bear markets kick in.
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