🚨🚨 Wondering Why Dogecoin, Shiba Inu, and Mem Tokens Aren't Seeing Growth? Analysts Shed Light! 🔥 Following Elon Musk's denial of owning SHIB coin, these meme coins are facing challenges.
While Bitcoin and Ethereum are impressing investors, meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) are struggling to gain momentum. According to analysts from Nansen, this could be because investors are shifting their focus to Bitcoin and Ethereum instead of meme coins.
As per The Block, Nansen analysts highlighted that meme coins haven't performed as well as BTC, ETH, and other rising altcoins.
Meme coins are currently facing low liquidity and high volatility, with most investor interest directed towards Bitcoin and Ethereum. "Apart from meme coins, the wider cryptocurrency market is grappling with liquidity issues."
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