Meme Coin Massacre: Why Dogecoin and Shiba Inu Could Drop 50% This Week

On Tuesday, Dogecoin ( DOGE ) and Shiba Inu ( SHIB ) continued their downward trajectory and fell below the levels of $0.195 and $0.00000099 ￰0￱ leading meme cryptocurrencies faced mounting bearish pressure as market sentiment deteriorated across the ￰1￱ tokens experienced significant weakness in recent ￰2￱ data revealed troubling signs for bullish ￰3￱ interest declined sharply while short positions ￰4￱ metrics suggest traders expect additional downside movement in the coming ￰5￱ Metrics Point to Continued Weakness Futures open interest for Dogecoin dropped to $341.50 million on Saturday, according to Coinglass ￰6￱ represents the lowest level recorded since early ￰7￱ decline signals reduced investor participation and weakening confidence in the token's near-term ￰8￱ open interest chart.) on the daily chart read ￰9￱ sits below the neutral 50 ￰10￱ reading indicates bearish momentum controls price ￰11￱ Moving Average Convergence Divergence (MACD) indicator flashed warning signs last week.

A bearish crossover occurred and remained in effect through ￰12￱ technical signal often precedes extended downward ￰13￱ daily chart.) at $0.220. Bulls would need to overcome substantial selling pressure to reach this ￰14￱ Inu Struggles After Sharp Friday Drop Shiba Inu experienced a pronounced decline on ￰15￱ token attempted recovery over the weekend, but gains proved ￰16￱ the time of writing, SHIB traded at around $0.000009975. Selling pressure persisted despite the brief ￰17￱ indicators mirrored Dogecoin's bearish ￰18￱ RSI remained below neutral ￰19￱ MACD continued signaling downward ￰20￱ confluent signals suggest additional downside risk remains ￰21￱ daily chart.