Dogecoin and Shiba Inu Plummet as Bitcoin Drops to $62,000

2024-5-8 15:44

Meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) have suffered significant losses. These declines have outpaced those of major crypto assets like Bitcoin (BTC) and Ethereum (ETH), signaling a possible shift in investor sentiment within this unpredictable market segment.

The overall market capitalization for meme coins has fallen to $50.6 billion, reflecting a 6.47% drop in the last day.

Can Meme Coins Rebound?

This decrease is considerably more pronounced than Bitcoin’s 2.79% drop to the $62,000 level. Ethereum also recorded a loss, slipping 3.5% and falling below the $3,000 mark.

Dogecoin, the pioneer meme coin, experienced a 7.06% decrease. Shiba Inu followed closely with a 5.39% decline.

Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024

Other meme coins faced even steeper losses. Dogwifhat (WIF), for instance, plummeted by 11.95%, and Pepe (PEPE) recorded a 7.62% decline, showing a broad retreat from these assets.

Certain technical indicators hint at potential recovery points for these volatile assets despite the downturn. Dogecoin appears to have found support at $0.1455. An inverse head and shoulder pattern could emerge if it rebounds from this level and approaches the $0.1650 resistance.

This pattern suggests a potential surge in Dogecoin’s price by over 53% from its current market price. However, a drop below the support level would negate this bullish outlook.

“Is Dogecoin prepared for the next level up?,” Dogecoin enthusiast Namtoshi speculates.

Meanwhile, Shiba Inu is consolidating between $0.00002818 and $0.00002071. A breakout or further decline from this range could significantly influence its future price trajectory.

Read more: Dogecoin (DOGE) vs Shiba Inu (SHIB): What’s the Difference?

Dogecoin and Shiba Inu Price Analysis. Source: TradingView

As the market navigates through these changes, the sharp declines in meme coin valuations highlight the risks and volatility associated with these digital assets. Unlike the more established cryptocurrencies, meme coins are particularly susceptible to shifts in market dynamics and social media influence.

This downturn could reflect a broader reassessment of risk by investors, particularly in the face of volatile market conditions. While meme coins can offer substantial returns, the current market scenario highlights the necessity for cautious investment strategies.

The post Dogecoin and Shiba Inu Plummet as Bitcoin Drops to $62,000 appeared first on BeInCrypto.

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bitcoin dogecoin inu shiba market drops plummet

Источник: beincrypto.com

bitcoin dogecoin → Результатов: 126


Илон Маск призвал основателя Dogecoin Джексона Палмера бороться со скамботами в Twitter

Илон Маск призвал создателя криптовалютной компании Dogecoin в Twitter помочь ему бороться c криптовалютными скамботами в социальной сети. Сообщение Илон Маск призвал основателя Dogecoin Джексона Палмера бороться со скамботами в Twitter появились сначала на Freedman.

2018-9-17 23:11


Илон Маск и создатель Dogecoin будут бороться с мошенничеством в Twitter

Илон Маск, глава компаний SpaceX и Tesla Inc, выдвинул предложение в адрес создателя Dogecoin Джексона Палмера, чтобы тот придумал действенный способ борьбы с криптомошенничеством в социальной сети Twitter.

2018-9-17 18:42


Dogecoin Price: Bulls Regain Control as Bitcoin and Ethereum Falter

There is no such thing as a boring day in the cryptocurrency world. Even though all major currencies are suffering from a loss, it is evident the Dogecoin price is on the end. This surprising turn of events was bound to occur sooner or later, primarily because DOGE seems to thrive when the rest of […] The post Dogecoin Price: Bulls Regain Control as Bitcoin and Ethereum Falter appeared first on NullTX.

2018-9-16 18:12


Фото:

Dogecoin Now ‘Envy of the Crypto World’ As ICOs Dumped $30M ETH Last Week

Altcoin markets are witnessing upheaval September 11 as Ethereum (ETH) sees major sell-offs from ICOs and Dogecoin generates altcoins’ second-biggest transaction volumes. Dogecoin ‘Envy Of The Crypto World’ Data uploaded to Twitter by cryptocurrency researcher Kevin Rooke shows the abrupt rise of DOGE after developers released the coin’s long-awaited Ethereum bridge beta September 5.

2018-9-11 18:00


Фото:

Криптовалюта Dogecoin: история одной шутки

Как появился Dogecoin В 2013 году американский программист Билли Маркус и австралийский маркетолог Джексон Палмер придумали криптовалюту Dogecoin (DOGE). Официальный запуск состоялся 8 декабря того же года.

2018-9-11 13:20


Анализ цен на Bitcoin/Ethereum: Внезапный обвал

Капитализация рынка криптовалют за прошлую неделю обновила свой годовой минимум. Так дёшево рынок оценивался последний раз в ноябре 2017 года. С понедельника, 3 сентября, капитализация снизилась более чем на $40 млрд.

2018-9-10 13:03


Poloniex добавила новые торговые пары с USDT

Криптовалютная биржа Poloniex добавила новые торговые пары с USDT. Об этом компания заявила в своём Твиттере. Отныне в паре с Tether можно торговать такими монетами, как : 0x (ZRX), Lisk (LSK), Dogecoin (DOGE), Golem (GNT) и Siacoin (SC).

2018-9-1 14:12


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