This week hasn’t been good for this Shiba Inu neighborhood. $SHIB has had a disappointing performance record. In the beginning, the number of transactions fell by 50 percent. At the same time, Shiba Inu lost position 14 to Polygon within this same period. This happened at a time when many of the cryptocurrencies competing in the market maintained the bullish trend. Find out how these currencies did in the following paragraphs.
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Shiba Inu
Despite the progress that has been taking place in the Shiba Inu network, the cryptocurrency was hit by one of the most difficult weeks. When the value of transactions dropped by 50 percent, Shiba became of the cryptos that had a poor performance. Furthermore, Shiba Inu gave in pressure from the market and resigned the 14th position to Polygon.
The cryptocurrency is currently ranked at #15 and this is not great news for Shiba token owners. The drop is occurring at the same time that Shiba Inu has announced the Shiberse Metaverse Platform that will be used by this network. Shiba Inu is still a contender with the possibility of being among the most successful performers of 2022. However, the team must make more efforts to convince the cryptocurrency community. There are more products that need to be introduced.
Bitcoin
While Bitcoin has been tested again, it has also had one of the top performances during the bear market. Bitcoin has been a bullish cryptocurrency all day long and is likely to be among the top gainers this weekend. Despite the bullish market conditions, Bitcoin is one of the most potent cryptocurrency options in 2022. Bitcoin is among those digital currencies that have seen a rise in popularity throughout the globe.
There are millions of businesses that accept payments from customers using Bitcoin. This is why it is gaining popularity more and more. With the increased usage of Bitcoin as a storage medium, it is predicted that the demand for Bitcoin will continue to grow.
Ethereum
Ethereum has had a bull market over the past two days. It’s currently one of the best performers following its recovery from the plunge it experienced. The strong performance of Ethereum is the result of a variety of reasons. One of these is the increased demand Ethereum has created in the market. The much-anticipated Ethereum upgrade is among the main reasons investors are investing more.
The Ethereum team is already making major changes with the new upgrade, currently in the second phase. There has been a number of promising improvements, with one of the most notable being the increase in hash rates due to the impact of the PoS protocol. As the upgrade progresses, the Ethereum coin will increase its bullishness.
Dogecoin
The Dogecoin bull market is impressive, especially following the dip that the coin has been having. One thing to note about Dogecoin is that its team has made large and intelligent moves. The acceptance of Dogecoin is booming in 2022, with big companies like Tesla having the latest acceptance of the currency.
There is also a lot of advertising of Dogecoin, and you can see this by the constant Twitter trends. It is evident that the involvement of Elon Musk in this project has been a good idea to promote cryptocurrency. It’s one of the main reasons why Dogecoin is bullish.
The Binance Coin
While Shiba Inu dropped transactions in addition to losing its positions, Binance cryptocurrency has become more bullish. The cryptocurrency has entered the week among the largest gainers. This is evident in the green zone in which the Binance coin has been in for the past two days.
There are many reasons to believe that Binance coin will be among the top performers this weekend. Given the expected increase in demand for BSC, the demand for this cryptocurrency will rise in a logical manner. This is how the cryptocurrency is expected to continue its upward trend and will likely hit an all-time high ATH within a couple of months in the future.
