Prominent meme coins like Dogecoin [DOGE] and Shiba Inu [SHIB] traded in the red as the FUD triggered by the collapse of the crypto-friendly bank, Silvergate, continued to engulf the broader cryptocurrency market.
According to data from CoinMarketCap, the market cap of top meme tokens fell by 9% in the 24-hr period while the trading volume surged 23.86%, indicating that an intense market sell off was underway.
Additional data highlighted that at the time of writing, DOGE, which is the largest meme coin by market cap, was down 8.24% in the 24-hour period while SHIB fell by over 9% in the same time.
Both the coins registered double-digit losses in the last seven days and were among the worst-performing cryptos in the market.
Read Shiba Inu’s [SHIB] Price Prediction 2023-24
Shares of crypto-related companies and coins came crashing down after Silvergate Capital Corp, a major crypto lender in the market, announced that it will shut down its operations and voluntarily liquidate.
Silvergate became the latest victim of a wider market downturn that was initiated majorly after the FTX collapse last year.
Following this development, Bitcoin [BTC] plunged below the $20,000 mark for the first time in nearly two months. The contagion spread to other cryptocurrencies as well and meme coins were one of the biggest losers.
According to Santiment, SHIB’s supply on exchanges increased steadily over the past week and reached the weekly high on 8 March. This suggested that users were possibly selling off their holdings.
The number of whale transactions more than doubled over the last seven days, implying that even bigger addresses had started to dump SHIB. The supply held by top addressees also increased, though it was not a very significant expansion.
Source: Santiment
Along similar lines, DOGE also saw the number of whale transactions proliferate by over 60% in the 24-hr period.
Source: Santiment
Sentiment turned negative as more investors took to short the memecoins. Data from Coinglass showed that number of short positions against the number of long positions increased considerably for SHIB and DOGE.
Source: Coinglass
How much are 1,10,100 DOGEs worth today?
But despite the gloom surrounding cryptos, the SHIB army had something to cheer about as the burn rate skyrocketed to a whopping 36497.56% in the last 24 hours, as per Shibburn.
A likely reason for the spurt in burn rate could be the upcoming launch of Shibarium Beta layer-2 blockchain.
Source: Shibburn
That said, before you take any position on SHIB or DOGE, it’s important first to let the market settle down.
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09.10.25 11:05
marcushenderson624
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09.10.25 11:05
marcushenderson624
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09.10.25 11:05
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11.10.25 10:44
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12.10.25 01:12
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12.10.25 01:12
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12.10.25 21:36
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elizabethrush89
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robertalfred175
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14.10.25 08:46
robertalfred175
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14.10.25 08:46
robertalfred175
CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1
15.10.25 18:07
crypto
Cryptocurrency's digital realm presents many opportunities, but it also conceals complex frauds. It is quite painful to lose your cryptocurrency to scam. You can feel harassed and lost as a result. If you have been the victim of a cryptocurrency scam, this guide explains what to do ASAP. Following these procedures will help you avoid further issues or get your money back. Communication with Marie ([email protected] and WhatsApp: +1 7127594675) can make all the difference.
15.10.25 21:52
harristhomas7376
"In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1
15.10.25 21:52
harristhomas7376
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