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- Published: December 13, 2021 15:38
New Delhi: The first week of December has been full of plunge and surge for the cryptocurrency market. The Crypto market saw from the flash crash to BTC mining hash rate recovered from the past. As per analysts and experts, meme coins are considered as the indicators of the market as a good rally can indicate the upcoming bull run for the altcoins.
Shiba Inu had a good run breaking into the top 10 crypto coins but since then the meme coin has failed and fallen terribly. With the king of meme coins Dogecoin dropping out of the list of top 10 digital coins, it can be said that the allure of these coins is fading away amid the ongoing crazy market run.
Meme-themed Cryptocurrencies Dogecoin and Shina Inu saw a hefty drop in their market capitalization which forced them to fall out of the top 10 crypto coins. This massive fall can be directly related to the decrease in the popularity of the SHIB and DOGE. However, coins like Hamster and Shar-pei went on to post double-digit gains overnight.
Hamster token (HAM) showed almost 70% gains overnight, while Sharpie showed an increase of 118% over the past 24 hours. It looks like DOGE and SHIB have lost their dominance over social media. As per experts, HAM and SHARPIE have replaced the SHIB and DOGE in terms of offering higher gains.
Mati Greenspan, Founder, and CEO of Quantum Economics tweeted about the HAM coin’s price rally.
Hamster coin has become popular after US Senator Brad Sherman mentioned the HAM coins suggesting a replacement of the Dogecoin. Brad Sherman’s mention fueled the upward rally for the coin, as HAM went on to touch the all-time high of $0.00000006.
Hamster coin up 71% after US Senator Brad Sherman suggested it could replace Dogecoin!! #LFG ????????? pic.twitter.com/57r8qNHXZt
— Mati Greenspan (@MatiGreenspan) December 9, 2021
As per analysts, the Shiba Inu is ready to resume its uptrend as it is building bullish momentum, whereas DOGE can bounce to make comeback above $0.30 as it forms a triple bottom.