Shiba Inu Coin starts off the weekend with further losses as Dogecoin gains slightly
Another exciting week on the crypto market comes to an end, which means that it's time to recap the price trends of a selection of notable cryptocurrencies. The publication of dauntingly high inflation rates in the United States for example pushed the two big cryptocurrencies Bitcoin and Ethereum (hardware wallet from US$59 on Amazon) to new all-time highs, before the crypto pair quickly gave up these gains. But the price of two popular meme coins did not stagnate either.
The Shiba Inu Coin (SHIB) had a rather poor week so far, and apparently cannot reverse that trend heading into the weekend. At the start of the week, one Shiba Inu coin was worth US$0.00006, but the meme coin has now retreated by roughly 13% and is currently priced at US$0.0000514 per token. With that, the Shiba Inu Coin sits more than 41% below its all-time high from 17 days ago.
Its biggest adversary, the Dogecoin (DOGE), took a different road this week. Similar to the aforementioned two big cryptocurrencies, Dogecoin posted significant mid-week gains and almost managed to hit the important US$0.30 mark. However, Dogecoin consequently dropped by almost 12% and is currently priced at US$0.26 per Dogecoin. Even though Dogecoin appears to become a bit stronger heading into the weekend, one of Elon Musk's favorite cryptocurrencies is still priced 64% below its record high from six months ago.
Disclaimer: This article is for informational purposes only and does not contain any kind of investment advice.