Despite the Falling Price of Meme Coins, Adoption Increases!

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The two most popular in the crypto world meme coinShiba Inu (SHIB) and Dogecoin (DOGE), which had . The cumulative value in the markets has lost 2% in the last 24 hours and was around 1.2 trillion at the time of the news. The triggering factor for this decline was Ethereum.

Different types of coins followed suit, but their densities were highly variable. Meme coins were one of the worst affected by this decline. Its market cap fell more than 2.5% in the past day to just $16.4 billion, according to data from CMC.

The leader of the meme coin world dogecoin (DOGE) seemed to be the least injured, though affected by these falls. The developments that Elon Musk also brought to the agenda were able to improve the relief in price for only 23 seconds, but even this minimized the effects of recent losses. DOGE, which lost only 0.38% compared to Thursday, was currently trading at $0.077.

However, another famous meme coin Shiba Inu (SHIB) was not so lucky. SHIB was down 4.15% from the previous day and was trading at $0.00001039.

Meme Coin Drops Don’t Reduce Adoption

Despite the stagnant state of the market, the adoption of both Shiba Inu and Dogecoin seems to be on the rise. Exchanges several shiba inu (SHIB) and Dogecoin continue to add their support to the pair.

Leading exchange MEXC Global announced that its users will be able to trade Shiba Inu and Dogecoin against Circle’s stablecoin USDC. Prior to this, these tokens were only tradable against Tether.

In January, the exchange also added support for Bone ShibaSwap (BONE), the management token of Shiba Inu’s decentralized exchange. Notably, MEXC was one of the first exchanges to list the aforementioned token.

Also, NOWPayments, a popular payment platform for traders, has already started allowing all its users to process payments on SHIB, in collaboration with crypto accepting and withdrawal service Switchere.

Additionally, XcelTrip has also added support for the second largest meme coin, meaning that SHIB can now be used to book vacations, over 2.3 million hotels and over 450 airlines.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.


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