Dogecoin and BONK may face price drops as Panshibi gains traction, raising over $350,000 in presale.

Long-standing favorites Dogecoin (DOGE) and BONK (BONK) are experiencing possible price drops as the new competitor Panshibi (SHIBI) is acquiring popularity. Panshibi is getting ready to take a sizable chunk of the meme coin market since its presale has already raised over $ 350,000. 

Read on to find out why DOGE and BONK investors are swarming to this fresh crypto project. 

Dogecoin News: DOGE prediction looks unclear

According to recent Dogecoin news,  the altcoin is currently experiencing difficulties. Dogecoin has thus gone below a $50 billion market cap, a level of psychological resistance deemed to be rather important. Though it is under increased competition from younger meme coins that are more utilitarian, Dogecoin stays at the top of the meme coin hierarchy despite its recent fall. 

Making a Dogecoin price prediction right now from this Dogecoin news could be difficult since Dogecoin is obviously demonstrating a bearish trend, and it can likely decline below $0.30 very soon. Still, Dogecoin has strong basic principles and is becoming more and more popular as a payment method, especially on gaming streaming sites. 

One further benefit of Dogecoin is that it has lately attracted support from eminent figures like Elon Musk. Long-term holders are renewing interest by wagering on forthcoming events such as connections with blockchain-based apps.

BONK struggles for stability

Having suffered a dramatic 23% drop in the past month, BONK is not finding more luck than Dogecoin. With its community-oriented airdrops, BONK created waves as the first Solana-based dog-themed meme coin attracted notice, but, its lack of functionality has limited BONK’s path. 

BONK’s difficulties r

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Author: Guest Post