Dogecoin, Shiba Inu Plunge 8%: Is It Over For Meme Coins?
Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) each shed roughly 8% on Friday as Bitcoin (CRYPTO: BTC) drifted toward $60,000, with the heaviest selling concentrated in the most speculative corners of the crypto market.
Both Tokens Broke Key Support On Heavy Volume With Sellers In Control
Dogecoin fell from $0.0891 to $0.0830, breaking the ascending channel that held since February and landing directly on the $0.080 horizontal support, the last structural level visible on the chart.
Shiba Inu dropped from $0.000004997 to $0.000004630, slicing through support near $0.000004780 on heavy selling pressure.
Both tokens saw their biggest volume spikes during the breakdown rather than on any recovery attempt, confirming sellers remained in control throughout the session.
Derivatives traders moved into defensive positioning, with DOGE futures open …
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