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It's falling again. Bitcoin today still hasn't reached $78K, and all the meme coins are being sold off. DOGE, from $0.104 last week, is now only $0.10, Shiba Inu has also dropped more than 2% to $0.00000539, and Pepe isn't escaping this sell-off either.
The most frustrating part is that Dogecoin tried to break through the resistance but failed, so it fell back into an symmetrical triangle pattern. According to analysts, when buying pressure equals selling pressure, it all depends on Bitcoin's decision. If BTC continues to weaken, meme coins will find it hard to recover.
The good news is that Shiba Inu has positive news — the token burn rate has increased by up to 8,000%, with over 3.8 million SHIB leaving circulation. Normally, token burning is good for long-term price, but currently, the overall market is too weak to help. Shiba's key support level is $0.00000526; if it holds this level, there’s a chance for recovery, but everything depends on what Bitcoin will do next.
The cryptocurrency market is now unstable due to geopolitical factors. Meme coins are the most sensitive to these movements because they mainly thrive on market sentiment. Dogecoin, Pepe, Shiba Inu — all three are waiting to see where Bitcoin goes to decide their next move.