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I just noticed that Dogecoin, Pepe, and Shiba Inu all dropped simultaneously today. All meme coins outperformed because Bitcoin fell below the $77.65K level. Market sentiment has truly turned bearish after losing the major support.
Dogecoin is now at $0.10, up only 2.35% but still following the broader market movement. I see on the chart that it’s just consolidating in a triangle pattern, like waiting for the next big move. Shiba Inu’s price also adjusted, rising 2.72% but not enough to recover the entire portfolio. Many have burned SHIB tokens but support still isn’t enough.
Pepe, on the other hand, is still struggling at lower levels. Momentum indicators are showing weakness across the board. If Bitcoin stays in this lower zone longer, it’s certain that all altcoins will follow even lower. The meme coin market is highly dependent on Bitcoin’s movement, so Shiba Inu’s price and other alts are now more volatile.
Traders are rushing to secure their losses. The next support levels are critical to watch, especially for Shiba Inu’s price and momentum recovery.