According to data from IntoTheBlock, Dogecoin ($DOGE) and Shiba Inu ($SHIB) share a strong 0.74% positive price correlation. This pattern played out last week as both tokens went bearish. Right now, investors say the best crypto to buy is Domini.art ($DOMI). This new platform will deliver huge returns to investors. Let’s see why investors are dropping Dogecoin ($DOGE) and Shiba Inu ($SHIB) for Domini.art ($DOMI) in 2023.
Dogecoin ($DOGE) Drops in August 2023
Recently, Dogecoin ($DOGE) co-founder Billy Markus took a swipe at a group that believes BTC is superior to the best altcoins. The Dogecoin ($DOGE) founder said BTC maximalists are the ‘’literal worst at marketing.’’’ He joked that the group invitation sounds like, ‘’Join our clearly mentally ill group of insecure losers’’. The Dogecoin ($DOGE) founder said this after Robert Breedlove (a $BTC maximalist) described BTC as the ‘‘future of warfare’’
Elon Musk made a cryptic tweet referencing Dogecoin ($DOGE). The CEO said, ‘’Cry havoc! And let slip the Doges of war.’’ However, this tweet had little effect on Dogecoin ($DOGE), as the token went bearish in the second week of July. On August 10, 2023, Dogecoin ($DOGE) traded at $0.07534. Dogecoin ($DOGE) was trading for $0.06711 on August 17, losing 10.22% in seven days. Later in the month, Dogecoin ($DOGE) fell again, and entered September trading at $0.06396. Analysts say Dogecoin ($DOGE) will surge if Elon Musk includes it on X.
Shiba Inu ($SHIB) Falls After Shibarium Launch
On August 16, 2023, Shiba Inu’s ($SHIB) much-anticipated Shibarium blockchain launched on Mainnet. However, Shibarium stepped straight into challenges. According to data from Beosin, crypto funds are stuck on the Shibarium cross-chain bridge. Reports say $1.7 million worth of $ETH and $762,000 worth of $BONE are locked on the blockchain. Shibarium has already registered 21 million wallets in the testnet phase.
Shiba Inu ($SHIB) investors sold their tokens after this news broke. On August 10, Shiba Inu ($SHIB) traded for $0.000009729. A week later, Shiba Inu ($SHIB) lost 7.34%, and Shiba Inu ($SHIB) was trading at $0.000009083. As of September 2nd, Shiba Inu is trading at $0.000007817, dashing any hopes of a quick rebound. Analysts expected Shiba Inu ($SHIB) to rise after the Shibarium blockchain launch. Most analysts believe Shiba Inu ($SHIB) will only record a major price surge when the next bull cycle returns.
Domini.art ($DOMI) Aims to Deliver a Massive ROI to Early Investors
Domini.art ($DOMI) is an innovative art marketplace created to democratize high-end blue-chip art ownership. Hopeful art investors without a huge budget can own shares in prestigious artworks. It offers expert advisory to token holders by providing in-depth art market analysis, personalized recommendations, and due diligence. In addition, Domini.art ($DOMI) holders also get priority access to new artworks.
This beginner cryptocurrency ensures the art investment process is fully secure by providing comprehensive insurance, specialized storage facilities, and conducting rigorous authenticity checks. Domini.art ($DOMI) will soon enter its first presale stage, where the token will sell for $0.0021. After all presale stages conclude, Domini.art ($DOMI) will hit the mainstream crypto market, trade for $0.0154, and deliver a massive 340% ROI to early investors.