Shiba Inu and Dogecoin resist dying with unexpected upside rally

The widespread increases that the cryptocurrency market is experiencing is also positively affecting these two meme tokens. The optimism observed these days with Bitcoin has influenced the rest of the currencies.

Elon Musk’s favorite cryptocurrency, the Dogecoin, chains three days of consecutive gains and it rises above 0.17 dollars (it has shot up 93%) also encouraged by the buying momentum of the whales (very large capital investors).

As stated on the Twitter account WhaleStats, this token is once again in the list of the 10 most purchased coins by the 1,000 largest whales that own wallets on Binance. On January 11, whales transferred 407.4 million Dogecoin, and that included the Robinhood app portfolio.

Regarding the Shiba inu, the data analysis Twitter account also indicates that the 1000 largest Ethereum wallets started to take an interest in this token once again, and SHIB has entered the list of the 10 most purchased tokens.

Which happens FIRST ⁉️ 🤔$ BTC $70,000$ ETH $10,000$BNB $1,000$SOL $500$ADA $10$AVAX $500$DOGE $1$ SHIB $0.0001$MATIC $10$LINK $100$FTM $10$ MANA $10$SAND $10$GALA $1#BabyDoge $0.00000001$ELON $0.00001$FLOKI $0.0001

— WhaleStats – the top 1000 Ethereum richlist (@WhaleStats) January 13, 2022

On the other hand, another of the crypto memes that has seen its price grow considerably is the baby doge, which has ousted Ethereum as the most widely traded digital currency among this group of large crypto token holders.

And good, Why has all this happened?. Shiba Inu describes himself as the people’s token and claims that it proposes to build a Super Dapp that will function as a one-stop-shop for decentralized finance solutions (Defi).

Also, on January 10, CoinMarketCap announced it was listing it.

Hello #shibainuclassic Family. SHIBIC is now CMC listed. Time to 🚀🚀🚀https://t.co/HNT1CQlDFr

— SHIBA INU CLASSIC (@ShibaInuClassic) January 10, 2022

However and despite this, the predictions for this year are really dire for both currencies. In the case of DOGE, investors predict a continuation of the collapse that it has been experiencing in the last months of 2021, due to its weak fundamentals and concentrated holdings.

On the other hand, SHIB and its extreme volatility makes it a poor store of value and a risky medium of exchange, so most Shiba Inu investors tend to be short-term outlook (increasing currency volatility ).