Key Points:
- Dogecoin (DOGE) has seen negative returns during European and U.S. trading hours, but positive returns during the Asia-Pacific day.
- Sellers have been dominant during European and U.S. hours, while buyers have had the upper hand during Asian hours.
- Shiba Inu (SHIB), a self-proclaimed dogecoin killer, has also experienced similar session-wise returns.
- Memecoins like DOGE and SHIB have performed well during Asian hours due to heavy trading on South Korean exchanges.
- The regulatory outlook for alternative cryptocurrencies, including memecoins, remains uncertain and could impact their performance.
Hot Take:
The performance of meme coins like Dogecoin and Shiba Inu during different trading hours highlights the influence of regional market dynamics. While European and U.S. hours have generally been bearish for these coins, the Asian hours have provided positive returns. This suggests that understanding regional trading patterns and market sentiment is crucial for crypto investors. Additionally, the regulatory uncertainty surrounding altcoins could pose risks for meme coins and other alternative cryptocurrencies in the future.
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