DOGE And SHIB Continue Their Week-Long Market Crash

Time Stamp: March 15, 2022 10:20 AM
Source Node: 1216268

DOGE and SHIB continue their week-long market slump with their price actions remaining in the deep red as we can see more today in our latest altcoin news.

The dog-themed coins DOGE And SHIB continue their market slump as Dogecoin is down by 6% over the past week and trading at over $0.11, down by 85% from its all-time high of $0.73. Being pitched as a joke initially in 2017, DOGE became the face of the meme-money. There have been quite a few fundamental updates to the original protocol and DOGE doesn’t really offer any kind of staking and DEFI features. There were some talks among the developers trying to continue to improve the crypto’s transaction speed and these discussions are still having to take hold.

Across the crypto kennel, SHIB is not doing much better either. The coin is now trading at $0.0000214 and then crashed by 8% over the past week. Despite the penny coin status, SHIB remains the 15th biggest crypto and overtook DAI stablecoin, Cosmos, and Polygon. The fall could have been quite painful for the SHIB holders because last year the coin was the ninth biggest asset by market cap.

Despite the bearish run, the assets made headlines throughout the week. The AMC theaters for example rolled out online payment options for DOGE and SHIB and the feature was made possible via Bitpay according to AMC CEO Adam Aron. SHIB’s burn rate also accelerated as well and the burn tracker Shibburn shows a total of 410 trillion coins and 400 million of them being burned yesterday in one transaction. Burning tokens is often seen as a bullish trigger for projects and removing tokens from circulation can be seen as making the coin more scarce. As the project is burning tokens, a huge chunk of SHIB tokens is minted each day.

DOGE And SHIB Now, AMC, theaters

AMC Theaters is officially accepting DOGE And SHIB for online payments for tickets and the move came a week earlier than anticipated. The largest movie chains in the world announced they will start accepting the two popular memecoins for tickets on March 19th. Now, the CEO of the company Adam Aron announced on Twitter that DOGE and SHIB now are accepted a week earlier.

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