Bitcoin
BTC$67 685.77

-1.74%

Ethereum
ETH$3 856.07

-1.86%

Tether
USDT$0.999067

-0.06%

Binance Coin
BNB$597.03

-1.13%

Solana
SOL$169.71

0.71%

USD Coin
USDC$1.000181

-0.01%

Dogecoin survived carnage in 2022 better than most


28 Dec 2022

#Dogecoin

DOGE has performed much better than SHIB this year, despite the Shiba Inu community actively working on an L2 network, a metaverse and blockchain games. DOGE has held up much better than most of the top assets on the market. DOGE is the third-best performer in the top ten, having dropped "just" 58% this year, beaten only by XRP and BNB, which saw declines of 57.2% and 53%. Looking at the top 10 assets in terms of market capitalization as per Crypto Bubbles data, Bitcoin and Polygon have all shed considerably more: 65.1%, 67.8%, 80.9 and 68.8%, respectively, over the past 12 months. DOGE also comes in well ahead of other big names in the top 20 such as Polkadot and Avalanche, which have all plunged, by 84%, 93.8%, 70.3% and 89.9%, respectively.

Data from Intotheblock (ITB) also has interesting insights, with the majority (54%) of DOGE hodlers currently in the green at the current price of $0.07, while 3% are breaking even and 43% in the red. ITB’s figures rely on identifying the average cost of token purchases in its tracked wallets and comparing it to the current price of the given asset.

Looking at other assets, ITB data indicates that 46% of BTC holders and 47% of ETH holders are currently in the green at the time of writing, showing the memecoin has performed well despite its volatile history.

The strong performance comes despite no significant news for the Dogecoin network or anything in the pipes to justify excitement going forward, barring some recent speculation that DOGE could potentially, possibly, one day be integrated with Elon Musk’s Twitter. By way of comparison, Ethereum cut its energy consumption rates by 99% this year, with a slew of layer 2 projects helping it to scale. Fundamentals don't have the power of memes, apparently.

SHIBA INU vs DOGE

However, DOGE’s memecoin competitor Shiba INU has also struggled, despite community efforts this year to build a full-fledged ecosystem consisting of blockchain games, nonfungible tokens and a metaverse platform. The token is down 76.1% over the past 12 months, with just 14% of hodlers in the green, 4% breaking even and 82% in the red, according to ITB.

As it stands, DOGE is the eighth-largest crypto asset in terms of market cap at $10.1 billion, while SHIB sits at No. 17 with $4.8 billion, according to data from CoinGecko.

In some potentially bullish news for the SHIB community, however, pseudonymous lead dev Shytoshi Kusama has hinted that there could be a new partnership in the works relating to the Shibarium project. Shibarium is an upcoming Ethereum Layer 2 scaling solution that will host the ecosystem’s metaverse platform, games and a decentralized exchange. Shytoshi Kusama’s bio was recently updated to read “WE are not alone” while their location was set to “With a new fren… guess who?.”

This followed up from a Christmas Eve tweet to their 865,400 followers that read: “Wen Shibarium? Please know it will come very soon*, but not during a crucial time for people to spend with their family (or the resulting New Years party time). Enjoy these next days, next year is an important one for humanity.”

Happy Holidays to more than half the . Wen Shibarium? Please know it will come very soon*, but not during a crucial time for people to spend with their family (or the resulting New Years party time). Enjoy these next days, next year is an important one for humanity.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 77.2% 43 $67 685.77 -1.74% -4.06% $1 333 720 305 958 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 68% 70 $3 856.07 -1.86% 2.36% $463 258 843 200 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.2% 1 $0.999067 -0.06% -0.07% $111 860 875 075 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 94.4% 6 $597.03 -1.13% -2.61% $88 113 124 808 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 67.6% 73 $169.71 0.71% -5.16% $76 285 696 632 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 94.4% 1 $1.000181 -0.01% 0.02% $32 486 438 065 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 92.8% 6 $0.528184 -0.83% -2.87% $29 277 463 978 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 76% 50 $0.162784 -4.05% -3.48% $23 518 429 286 DOGE 7 days price change
9 Toncoin (TON) TON Toncoin predictions 68.8% 64 $6.37 -1.95% 0.04% $22 123 822 286 TON 7 days price change
10 Cardano (ADA) ADA Cardano predictions 86.4% 19 $0.455335 -2.37% -9.08% $16 253 111 127 ADA 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 78.8% 33 $0.000026 0.32% -1.72% $15 102 955 216 SHIB 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 70.4% 52 $36.79 -2.29% -9.28% $14 455 407 164 AVAX 7 days price change
13 Chainlink (LINK) LINK Chainlink predictions 62.8% 82 $18.08 3.86% 6.92% $10 616 334 015 LINK 7 days price change
14 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 76.8% 42 $68 003.07 -1.36% -4.11% $10 570 844 156 WBTC 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 80.4% 33 $7.31 -2.59% -3.52% $10 506 078 807 DOT 7 days price change

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