"Dogecoin VS Shiba Inu, who do you think will win?"
The recovery of the cryptocurrency market is the reason for the biggest memecoin Dogecoin (DOGE) saw a 30% climb in January although in the last two days there has been a slight decline.
The decline at the time occurred as most whales sold large amounts of DOGE due to reduced interest, and Shiba Inu (SHIB) which is about to launch Shibarium Beta attracted the attention of investors.
It is understood that whales were found to have transferred nearly 1 billion DOGE worth $117.35 million to crypto exchange company Binance on January 25 and continued with the transfer of 985 million memecoins to wallets.
For the record, the whales wallet has been inactive since it bought billions of DOGE last year but is now active again and started trading the memecoin on Tesla's quarterly earnings day.
Despite that, some whales are still selling their respective DOGE because they believe the price will plummet if the memecoin is not well received by Elon Musk's DOGE fans.
As of this writing, the price of DOGE, which had previously declined by 5%, has rebounded to $0.08651 with its trading volume reaching around 5% in the last 24 hours.
In the meantime, investors expect the entire crypto market to decline again in the near term following the price of Bitcoin (BTC) and Ethereum (ETH) not making any significant gains.
