Shiba Inu (SHIB), a meme cryptocurrency, has dropped more than 9% in the last 24 hours. The second-largest canine cryptocurrency is lagging behind the cryptocurrency market as a whole. Shiba Inu’s team recently revealed details about its much-anticipated metaverse project, but it did nothing to prevent a price drop. The concept of selling virtual property has also been criticised, with Dogecoin co-founder Billy Markus suggesting that it might simply be a cash grab for developers that adds no value to the project.
Dogecoin (DOGE) has also dropped more than 7% in the last 24 hours, wiping out virtually all of its gains. Bitcoin (BTC), the world’s largest cryptocurrency, has dropped more than 5% in value, falling below $45,000 and bringing the rest of the cryptocurrency market down with it. Ethereum has done marginally better, losing 4% in the previous 24 hours. Meanwhile, archrival Solana (SOL) is down only 1%, making it the best performance among the major cryptocurrencies.
Other “Ethereum killers” are trading in line with the market, with Cardano (ADA) and Polkadot (DOT) falling more than 7%. The cryptocurrency market is trying to rebound after the European Parliament decided to outlaw anonymous bitcoin transactions. Waves (WAVES) is the only cryptocurrency in the top 30 that is now trading in the green, up 8% in the last 24 hours. In just one week, it has increased by more than 75%. Zilliaqa (ZIL), which has garnered headlines in recent weeks with its eye-popping surge, is also trading in the green.
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