Dogecoin Rebounds While Shiba Inu Faces Support Challenges
- Dogecoin (DOGE) rose by 3.0%, closing at $0.1641 after dipping to $0.1551.
- Trading volume for DOGE peaked at 613 million, which is a significant increase of 186% compared to the average.
- Shiba Inu (SHIB) fell by 2.0%, from $0.000009233 to $0.000009045, breaking below key support at $0.000009240.
- SHIB experienced heavy selling with a surge of over 412 billion tokens traded, marking a rise of 67% above average during peak selling times.
- Despite the downtrend, SHIB’s recovery saw it reclaim short-term resistance at $0.000009060 after hitting an intraday low of $0.000008975.
The cryptocurrency market remains under pressure due to concerns over AI bubbles and significant Bitcoin ETF outflows totaling $800 million, impacting sentiment towards meme-coins like Dogecoin and Shiba Inu. Large-holder behavior diverged, with Dogecoin seeing institutional accumulation while Shiba Inu faced retail-driven selling before buyers stepped in.
Overall, Dogecoin’s bullish momentum is supported by strong trading volume and whale accumulation around the $0.155-$0.161 zone, while Shiba Inu needs to close above $0.000009240 for stabilization following its recent decline.(Source)
