As Shiba Inu and DogeCoin crash, Big Eyes Coin shows promise.
There is no mistaking that the current financial crisis has hit the crypto market. As opposed to what many investors initially believed, digital currencies were not immune to the present-day economic situation, and as a result, the market capitalisations of the leading cryptocurrencies have plummeted to unimaginable depths.
Promising coins such as Terra (LUNA) have more or less died (even if not directly tied to the economic situation), and investors have been left to decide whether to cash out or simply sit tight.
The meme market-leading tokens Dogecoin (DOGE) and Shiba Inu (INU) have not avoided the crisis either. During its peak in 2021, Dogecoin (DOGE) reached a total market capitalisation of over $88 billion. At the time of writing this, the market capitalisation is only over $7 billion. Safe to say, it has not been a great year for cryptocurrencies, but there may be some hope still.
Although Big Eyes Coin (BIG) is only in its third stage of presale, this adorable cat has managed to raise $3.5 million and is taking the internet by storm. Will it have the potential to shine some light during this dark crypto winter?
As Hype Fades Away, Dogecoin Is Left To Pick Up The Pieces
Economic problems are not the only thing Dogecoin (DOGE) has to worry about right now. After Elon Musk’s Twitter endorsements of this funny dog coin wore off, he now faces a lawsuit for contributing to a Ponzi scheme. Accusers claim Musk intentionally drove up the price of Dogecoin (DOGE), effectively generating a pyramid scheme. While this lawsuit is not settled yet, it definitely hurts Dogecoin’s (DOGE) credibility.
‘Dogecoin Killer’, Shiba Inu Is Focusing On Its Survival Right Now
Dogecoin’s (DOGE) main rival, Shiba Inu (INU), has also suffered from similar reasons for its downfall. Elon Musk’s manipulative words sparked investment in this meme token when he expressed interest in getting a Shiba Inu puppy. Now all the buzz has gone, Shiba Inu developers are working on creating features that will make its ecosystem thrive without Elon Musk’s help. But the damage has already been done.
Is Big Eyes Coin The Meme Coin Saviour?
This is hard to predict. However, with the speed Big Eyes (BIG) presale tokens are being sold, and the token’s price rising by 25% whenever each stage is completed, it is safe to say Big Eyes Coin (BIG) is doing incredibly well for itself during a time of economic strain.
And not just for itself, the Big Eyes Coin (BIG) community is effectively driving this hype. With heavily engaged social media channels and a Telegram group that provides exclusive announcements, the community is easily drawn to Big Eyes’ story and the powerful charitable message behind it.
For those interested, Big Eyes Coin (BIG) runs many competitions, including the current Gleam competition , where anyone can win $250,000. Competitions are just one of the methods Big Eyes Coin (BIG) will use to grow its investor base, as 5% of its total tokens will be used for a marketing wallet. As is clear to see, the marketing is working already.
So will Big Eyes Coin (BIG) become the meme market’s saving grace after Dogecoin’s (DOGE) and Shiba Inu’s (INU) downfall? If it continues to grow at its current rate, then potentially.