DOGE, SHIB Price News: Dogecoin and Shiba Inu Drop Lower as Ethereum Loses Appeal
Dogecoin and Shiba Inu fell below key technical support levels amid selling pressure linked to Ethereum's underperformance.Summary
Dogecoin (DOGE) and Shiba Inu (SHIB) experienced declines, testing lower levels after breaking key technical support, which analysts attribute to increased selling pressure concentrated in speculative assets.
The weakness in meme coins coincided with softness in Ethereum (ETH), which traders often use as a risk gauge for altcoins; ETH's underperformance suggested capital rotation out of higher-beta assets rather than a market-wide downturn, as broader crypto benchmarks remained relatively stable.
Technically, DOGE broke the $0.13 level, confirming a bearish structure, while SHIB mirrored this weakness, suggesting the sector is trading as a single risk bucket. Future movement for DOGE depends on holding support near $0.1280, while SHIB's stabilization is linked to ETH regaining strength.
(Source：CoinDesk)