Dogecoin and Shiba Inu The most popular assets such as have performed strongly this week, erasing previous losses. The cryptocurrency market experienced a recovery following the Federal Open Market Committee (FOMC) meeting. Moreover, it reached a market value of $2.3 trillion, with an increase of 5% in the last 24 hours.
These increasesmeme coinThis was also reflected in a 14% market value increase in ‘s. Transaction volume also increased to 6.1 billion dollars. At these higher levels, traders focused on the top two meme coins, which have the potential for greater returns during the asset recovery period.
Dogecoin and Shiba Inu
dogecoin, remains the largest meme coin with a market cap of $22.48 billion and a daily trading volume of over $1.6 billion. DOGE traded at $0.1562, up a whopping 18% in the last 24 hours. This recovery fueled bulls circling the asset and predicting a run to $1.
On the other hand, SHIB increased its market value by 11% today to 14.9 billion dollars. Additionally, transaction volume increased to over $709 million.
On a weekly basis, Dogecoin gained a total of 7.3%. On the other hand, Shiba Inu showed a 5.4% recovery compared to previous weeks. SHIB’s monthly flows remained in the red by 5%, while DOGE’s monthly figures remained below 14%.
Overall, DOGE has experienced a faster short-term recovery compared to the previous decline. On the other hand, SHIB showed positive momentum with long-term gains. This is further supported by asset gains in the last bull run and the meme coin craze.
Meme Coin Craze?
Meme coins showed the expected recovery, outperforming the broader market. Top crypto assets rose 5%, while meme coins rose over 14%. However, asset volatility due to changes in sentiment may cause gains to be wiped out. DOGE and SHIB are the largest meme coins by market cap and have seen large flows in recent weeks.
