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Shiba Inu And Dogecoin See Bloodbath As Their Market Cap Shrinks

Meme cryptocurrencies Shiba Inu (SHIB) and Dogecoin (DOGE) is taking the major hit from the general market correction, seeing its market cap drop below $30 billion.
More so, this means that DOGE and SHIB are no longer among the top 10 cryptocurrencies by market capitalization.

Notably, Shiba Inu suffers approximately 6% loss of its value in the 24 hours. That’s, after touching an all-time high market cap of $3 trillion. More so, the past 24 hours, now has a market capitalization of $24 billion, making it the world’s 12 largest digital asset.

Meanwhile, Dogecoin records 4% loss during the same period, with current market cap at around $29 billion. Generally, the digital assets records almost $500 billion loss worth of market cap.

Also, aside Shiba Inu and Dogecoin, other leading cryptocurrency assets, like Bitcoin (BTC), Ethereum (ETH). Also, Binance Coin (BNB), Solana (SOL), and Cardano (ADA). So, they all are down by over 10% in the past seven days.

Notwithstanding, DOGE and Shiba INU are still among the best performing cryptocurrencies in 2021.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.