- The global cryptocurrency market cap is now $837.59 billion.
- SHIB and DOGE both saw their prices rise over the past 24 hours.
- DOGE is likely to have a 2023 year after Elon’s takeover of Twitter.
The total cryptocurrency market cap is up 1.97% over the past 24 hours, bringing the total to $837.59 billion at the time of writing. This is according to the cryptocurrency market tracking website, CoinMarketCap.
Looking at two of the most popular tokens, (DOGE) and (SHIB), the prices of both tokens have increased over the past 24 hours as well.
DOGE is currently ranked as the 9th largest cryptocurrency by market capitalization, and it outperformed SHIB with its daily gain of 1.24%, taking its price to $0.08241. DOGE also strengthened against (BTC) by 0.18%, and fell against (ETH) by 2.10%.
Looking at SHIB, its price is up 0.26% over the past 24 hours. This takes its price to $0.00000904. Compared to the cryptocurrency market leaders Bitcoin (BTC) and Ethereum (ETH), SHIB price is down 0.85% and 3.10% against both of them, respectively.
This year has been a terrible year for both the cryptocurrency and traditional financial markets after several hikes in interest rates and the collapse of several crypto companies, such as Celsius, Luna, and FTX.
As such, 2023 is an opportunity for investors to readjust their portfolios and buy cryptocurrencies at a discount. In terms of SHIB and DOGE, 2023 could be a better year for DOGE than SHIB.
The reason for this is that DOGE is linked to the activities of Elon Musk, also known as DogeFather. Musk’s recent acquisition of Twitter is likely to drive up the price of DOGE in the coming months. Meanwhile, lower amounts of SHIB interest may be the main contributor to a 2023 below average for the meme token.
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