Dogecoin, Shiba Inu, and Pepe Coin Prices Plummet as Bitcoin Dips Below $70K

Cryptocurrency Market Turmoil: Dogecoin, Shiba Inu, and Pepe Coin have experienced sharp price declines as Bitcoin tumbled below the $70,000 mark. The meme coin market cap now stands at $33.5 billion, reflecting a 10.7% drop within 24 hours.

Dogecoin Price Slips Below $0.10 Amid Bitcoin's Decline

Dogecoin traded at $0.0949, having broken past the $0.10 barrier amid a broader market downturn. The cryptocurrency closely tracked Bitcoin's 8.16% plunge, leading to over $840 million in market liquidations. Dogecoin's Open Interest in futures dropped to $1.06 billion from $1.27 billion.

Potential Recovery Scenarios

If Dogecoin maintains a position above $0.09, it could potentially recover. A sustained rise above $0.10 might signal a trend reversal.

Shiba Inu Price Decline and Key Support Levels

Shiba Inu's price decreased by 9.30% to $0.00000592. The burn rate fell by 19.50%, with 1,453,488 SHIB tokens burned. The critical support level is currently $0.0000063.

Price Outlook

If Shiba Inu maintains above this support, a rebound to $0.0000069 is possible. However, falling below this level may lead to further declines.

Pepe Coin Under Pressure After Selloff

Pepe Coin's price dropped by 10% to $0.00000365, consolidating around a significant resistance level. Despite attempts to climb, Pepe Coin is forming a potential triangle pattern and has declined by 41% over the past month.

Future Trajectory

Should Bitcoin find support around $66,000, Pepe Coin might attempt a rebound towards $0.000004. A continued downturn could challenge the $0.0000035 low.

What Lies Ahead for Meme Coins?

The future of Dogecoin, Shiba Inu, and Pepe Coin largely depends on the broader market dynamics and Bitcoin's performance. If Bitcoin stabilizes, these meme coins might recover, although further declines could test their support levels.