Shiba Inu (SHIB), Bitcoin (BTC) and the top ten cryptocurrencies by market cap have had a slow start to the year.
Bitcoin, Shiba Inu and Other Major Cryptos Started Slowly
In the last 7-day span, the major cryptocurrency BTC has seen a decline of more than 6 percent which makes investors feel giddy when they see it.
It is undeniable, reaching a great market in 2021 will certainly bring its own new obstacles to get to 2022.
Taking profit is certainly one of the factors destroying the market, which is trying to be bullish in the midst of a deep correction that has occurred since mid-November 2021.
Performance-wise, however, establishing a new ATH is a great gift Bitcoin is giving amid the effects of the pandemic hitting the value of many traditional investment assets.
In addition, Ethereum also started the year slowly which is still the main concern for investors to see, whether there are signs of recovery.
Although equally slow, the growth rate of Ether (ETH) still looks better than BTC on a percentage basis.
While some major cryptocurrencies, such as Solana (SOL), Polygon (MATIC) and Terra (LUNA), have fallen more than 8 percent in the last seven days.
And for meme tokens like Dogecoin (DOGE) and Shiba Inu (SHIB), they have depreciated by 9 percent and 13 percent, respectively.
Altcoins are more likely to experience a decline because of what they have achieved in 2021.
The fantastic rise has sparked some profit taking which is still tolerable if we take a look at every price action in the crypto market after the great rally.
SHIB Developer Call
On New Year's Eve, developers from Shiba Inu have announced an update with the arrival of the DoggyDAO iteration.
For your information, DoggyDAO is a decentralized autonomous organization that hands over control of their decentralized exchange network (DEX), ShibaSwap, to community members through its governance token, BONE.
Even though the price still looks pathetic due to a heavy correction, SHIB is still seen as being able to bounce back thanks to the upcoming update.
Call it a crypto game that incorporates NFT, as well as its own blockchain, Shibarium, for better scaling.
It's still in its infancy, 2022 still looks like it's going to be a fantastic year.
