Amid the extreme crypto downturn in 2022, the worth of Dogecoin (DOGE) has held up a lot better than a lot of the high property in the marketplace.
DOGE is the third greatest performer within the high ten, dropping by 58% this yr, overwhelmed solely by Ripple (XRP) and Binance Coin (BNB) which noticed declines of 57.2% and 53.%.
Trying on the high 10 property when it comes to market capitalization as per Crypto Bubbles information, Bitcoin (BTC), Ether (ETH), Cardano (ADA) and Polygon (MATIC) have all shed significantly extra: 65.1%, 67.8%, 80.9 and 68.8% a bit over the previous 12 months.
DOGE additionally is available in effectively forward of different large names in high 20 equivalent to Polkadot (DOT), Solana (SOL), Uniswap (UNI) and Avalanche (AVAX) which have all plunged, by 84%, 93.8%, 70.3% and 89.9% every.
Knowledge from Intotheblock (ITB) additionally has attention-grabbing insights, with the bulk (54%) of DOGE hodlers at present within the inexperienced on the present worth of $0.07, whereas 3% are breaking even and 43% within the crimson.
ITB’s figures depend on figuring out the typical price of token purchases in its tracked wallets and evaluating it to the present worth of the given asset.
different property, ITB information signifies that 46% of BTC holders and 47% of ETH holders are at present within the inexperienced on the time of writing, displaying the memecoin has carried out effectively regardless of its risky historical past.
The sturdy efficiency comes regardless of no vital information for the Dogecoin community or something within the pipes to justify pleasure going ahead, bar some current hypothesis that DOGE could potentially, possibly, one day be integrated with Elon Musk’s Twitter.
By the use of comparability Ethereum minimize its vitality consumption charges by 99% this yr, with a slew of layer 2 initiatives serving to it to scale. Fundamentals do not have the facility of Memes apparently.
SHIBA INU vs DOGE
Nonetheless DOGE’s memecoin competitor Shiba INU (SHIB) has additionally struggled regardless of neighborhood efforts to construct a full fledged ecosystem consisting of blockchain games, NFTs and a metaverse platform this yr.
The token is down 76.1% over the previous 12 months, with simply 14% of hodlers within the inexperienced, 4% breaking even and 82% within the crimson as per ITB.
Associated: The real-life dog behind memecoin DOGE is seriously ill
Because it stands, DOGE is the eight largest crypto asset when it comes to market cap at $10.1 billion, whereas SHIB sits at No.17 with $4.8 billion, in accordance with information from CoinGecko.
In some doubtlessly bullish information for the SHIB neighborhood nevertheless, pseudonymous lead dev Shytoshi Kusama has hinted that there could possibly be a brand new partnership within the works referring to the Shibarium venture.
Shibarium is an upcoming Ethereum Layer 2 scaling resolution that may host the ecosystem’s metaverse platform, video games and a decentralized trade.
Shytoshi Kusama’s bio was lately up to date to learn “WE are usually not alone” whereas their location was set to “With a brand new fren… guess who?.”
This adopted up from a Christmas eve tweet to their 865,400 followers which learn:
“Wen Shibarium? Please know it’ll come very quickly*, however not throughout an important time for folks to spend with their household (or the ensuing New Years social gathering time). Get pleasure from these subsequent days, subsequent yr is a crucial one for humanity.”
Joyful Holidays to greater than half the . Wen Shibarium? Please know it’ll come very quickly*, however not throughout an important time for folks to spend with their household (or the ensuing New Years social gathering time). Get pleasure from these subsequent days, subsequent yr is a crucial one for humanity.
— Shytoshi Kusama™ (@ShytoshiKusama) December 24, 2022
