The crypto crash is presently disturbing the minds of investors. In this article, we will explore the top 3 dog tokens to consider buying after the bear market is over. Many elements are presently weighing on the market. Above all, the increased inflation, the extreme central bank policy, and suspicions of a recession are presently invading the portfolios. But widespread tensions in the crypto markets are also causing turmoil. Let’s take a look at it in more detail.
Top 3 Dog Tokens: Shiba Inu (SHIB)
Shiba Inu is a memecoin that was molded on the Ethereum blockchain. It is recognizable due to the Shiba Inu dog picture formed on it. The crypto fans think the token is a comparable replacement for Dogecoin, while some name it the ‘Dogecoin Killer.’ Shiba Inu was built in 2020 by a firm called Ryoshi.
Shiba Inu gained popularity in the market after it underwent a gigantic surge that brought its market cap to $41 billion in October 2021. One of the promoters of the rise was Elon Musk, who tweeted a photo of his new puppy called Floki. Shiba Inu word-for-word rivals Dogecoin in the market and has crushed the token at one point in the market. It remains unnoticed if this will ultimately happen. After the all-time high price at the end of October 2021, the Shiba Inu experienced some losses. Unfortunately, the bear market started in November 2021, which of course also had a powerful effect on the Shiba Inu price. The price dropped almost 75% from November to the end of January. We also witnessed additional losses in the months that followed.
Shiba Inu price could stay steady over the next few months and the coin should remain in the top 20 coins by market cap. This could hold the Shiba Inu among the most significant cryptocurrencies and thus stay pertinent for the future. So, The Shiba Inu coin could be a good asset at the present bear market price. Because at the moment the prices of cryptocurrencies are so low that they could give huge returns in the long term. In the short term, an asset should not be beneficial and may even result in losses.
Top 3 Dog Tokens: Dogecoin (DOGE)
Dogecoin is one of the most popular doge tokens. The project was founded as a cryptocurrency parody to counteract the madness around Bitcoin and countless other new cryptocurrencies with something laughable, not due to its technological peculiarities. It is an open-source cryptocurrency employed by internet users all around the world. Because the design is constructed on Litecoin, all updates will be delivered to Dogecoin as well.
Tesla boss Elon Musk supported making Dogecoin to the mainstream, thanks to his witty and contentious tweets. This stage supported the crypto market all-around as well, as more people became acquainted with cryptocurrencies all-around. This “hype” concluded soon thereafter, as the market became overbought and tumbled.
The present price of DOGE is sitting around $0.06604. A substantial buying wave appeared forcing prices upwards from the base of $0.05. This indicates an end to the downtrend. Yet, we must keep a more close-knit look at the crypto market in general. Despite the short uptrend that DOGE worked to draw from the low of $0.05, it would be advisable to stay for a small retracement towards $0.055. If prices tend to split the $0.08 price mark, we can anticipate a persistence of the uptrend until we achieve the substantial psychological price of $0.10.
Top 3 Dog Tokens: Dogelon Mars (ELON)
The Dogelon Mars token was forked from the famous Dogecoin. During its design, the designer put out to build a currency that will respond to people’s adaptable requirements. It should be mentioned that the token was designed as a homage to Tesla CEO Elon Musk. Before its design, Elon Musk was an avid supporter of Dogecoin, which endeared many to the meme coin. According to the designer, the coin will persist to experience expansion as when expected. The developer plans to help as many people who were scammed or hacked in the crypto sector. With this, the creators voiced a particular amount of tokens would be given to users in the market who were targets of the hack.
The future ELON prices could be bullish, and Dogelon Mars will be a sound investment. The development of ELON exclusively relies on the circumstances of the overall market of that course. While taking an entrance in Elon, glance at the Dogelon Mars chart, and analogize the trend.