Dogecoin （DOGE） and Shiba Inu （SHIB） are among the top laggards in the crypto market, with both coins showing significant declines.
Points
- DOGE and SHIB are top laggards in the crypto market.
- DOGE down 2.5%, SHIB down 3.5% over the last 24 hours.
- Broader crypto market also experiencing declines.
Dogecoin （DOGE） and Shiba Inu （SHIB） are among the top laggards in the cryptocurrency market, with both coins experiencing significant declines. According to data provided by CoinGecko, DOGE has fallen by 2.5%, while SHIB has dropped by 3.5% over the past 24 hours.
Meme Coins in Red: The entire meme coin sector is currently in the red, with other notable meme coins like Bonk （BONK） and Brett （BRETT） also recording losses. Dogecoin is trading in the range of $0.12 to $0.14, indicating ongoing sideways trading.
DOGE Momentum: Earlier this week, cryptocurrency analyst Ali stated that Dogecoin tends to rally after a period of consolidation. Despite the current decline, DOGE is up 14% over the past two weeks. However, it remains 82.2% down from its record high during the 2021 bull run.
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SHIB Outlook: Similarly, Shiba Inu has followed DOGE’s downward trend. From a technical perspective, SHIB is currently on its way to test the support level of $0.00001592. If a breakout happens, the fall could continue to the $0.000015 area next week.
解説
- Both DOGE and SHIB are experiencing significant declines, reflecting broader market trends.
- Meme coins are particularly volatile and sensitive to market sentiment, often seeing sharp rises and falls.
- Despite the current downturn, historical patterns suggest potential for future rallies following periods of consolidation.
- Investors should closely monitor support levels and market indicators to make informed decisions about buying or selling.