There is no doubt that the current financial crisis has hit the crypto market. Contrary to what many investors initially believed, digital currencies are not immune to the current economic downturn, and as a result, the market capitalization of major cryptocurrencies has plummeted to unimaginable levels. Dogecoin (DOGE) and Shiba Inu (INU), the leading tokens in the meme market, also did not escape the crisis. At its peak in 2021, Dogecoin (DOGE) will have a market cap of over $88 billion. At the time of writing, it has a market capitalization of just over $19 billion. It’s safe to say that it hasn’t been a great year for cryptocurrencies, but there may still be hope. Let’s explore some viable options to consider despite these struggling economic conditions.
Dogecoin (DOGE): The Ultimate King of Meme Coins
Dogecoin (DOGE) is the ultimate king of the meme sector cryptocurrencies. However, like all major cryptocurrencies, it also faced various difficulties in the last few months due to the extensive bearish market. Economic issues aren’t the only thing Dogecoin (DOGE) has to worry about now. It is now facing lawsuits over its contributions to the Ponzi scheme after Elon Musk’s Twitter support for the intriguing Dogecoin has run out. The accusers allege that Musk deliberately increased the price of Dogecoin (DOGE), effectively creating a pyramid scheme. Although the lawsuit is not yet settled, there is no doubt that it will damage the credibility of Dogecoin…
