Shiba Inu, Dogecoin, Safemoon achieve this feat amid bloodbath

Lavina Daryanani
Source: IBT, Singapore

Most coins from the market have derailed from their respective recovery tracks over the past few days. The state of the broader crypto market deteriorated even further on Tuesday as the broader bearish sentiment intensified. As a result, the cumulative valuation of the crypto market was down to $1.77 trillion after noting a 5.2% dip over the past 24-hours.

Despite the bloodshed, top coins have been able to maintain decent social numbers. As per LunarCrush’s weekly social engagement stats, Bitcoin and Ethereum occupied the top two positions respectively. Large-cap tokens like Cardano’s ADA, Decentraland’s MANA, and Polygon’s MATIC too featured in the list. A few other not-quite-prominent cryptos like Tezos and PancakeSwap also made their presence felt.

What’s interesting to note, however, is 3 out of the top 10 coins from the aforementioned list belonged to the meme category. The pack leader Dogecoin occupied the third slot [1.02 billion] and was followed by Shiba Inu at number five [364.8 million] and Safemoon at number nine [220.9 million].

How are these coins coping?

SafeMoon was the token that was the quickest to make up for its losses. After visiting a level as low as $0.001088 during the early hours of Tuesday, SafeMoon V2 was back to trading around $0.00123 at press time, thereby capping its 24-hours losses to merely 3%.

SafeMoon V2 price movements || Source: CMC

Dogecoin, on the other hand, was trading around $0.136-$0.138 a day back. Post a dip to $0.1254 and a quick uptick to $0.129, this meme token was down by 6.18% in the day’s trade.

Dogecoin price movements || Source: CMC

Shiba Inu was the worst affected among the three coins, for its daily losses had extended upto 7.75%. At the time of press, the second-largest meme token was seen exchanging hands right under $0.000025.

Shiba Inu price movements || Source: CMC