Two of the most popular meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB), are on a downward trajectory, and given the current market situation, investors have plenty of reasons to be afraid. The charts don’t get any prettier, as Dogs and Shibus saw declines of over 3% over the past week, all thanks to volatile market corrections and seasonal trading practices, as stated by Coinmarketcap. Meme currencies like DOGE and SHIB underperformed in December because traders pulled out over the holidays, causing selloffs and price volatility. Macroeconomic and political uncertainty exacerbated the recession. The absence of Bitcoin’s strategic reserve plan, which had boosted market optimism following the election of Donald Trump, has hampered the crypto industry.
Due to the Bitcoin price correction, DOGE and SHIB, which are highly correlated with Bitcoin, are more vulnerable to market downturns. As investors lose confidence in meme currencies, they are turning to newer, more promising assets like Rexas Finance, which offer true utilities and sustainable growth in a dynamic blockchain market.