Dogecoin, Shiba Inu Plummet 10% As Bitcoin Slips Below $100,000

Dogecoin DOGE/USD and Shiba Inu SHIB/USD have dropped sharply on Monday morning as Bitcoin dropped below $100,000.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
Dogecoin DOGE/USD	$0.3136	$46.4 billion	-10.7%	-17.2%
Shiba Inu SHIB/USD	$0.00001785	$10.5 billion	-10.7%	-16.4%
Pepe PEPE/USD	$0.00001252	$5.3 billion	-16%	-25.5%

Trader Notes: Crypto trader Ali Martinez pointed to a buy signal for Dogecoin on the daily chart, anticipating a potential price rebound.

Another trader likened DOGE's current price action to its post-inauguration behavior in 2021, which preceded a dramatic 1,100% rally. He speculates whether a similar surge could occur.

For Shiba Inu, Martinez marked the $0.0000185 to $0.0000212 range as a crucial support zone to watch.

The $0.0000185 to $0.0000212 range stands as the most critical support zone for #ShibaInu $SHIB! pic.twitter.com/mKXcYtvqS1

— Ali (@ali_charts) January 27, 2025

Statistics: Shibburn data shows SHIB burn rate spiked 360.4% in the last 24 hours, removing 5.6 million SHIB from circulation. A total of 28.3 million SHIB have been burned in the past week.

IntoTheBlock data shows Shibarium's large transaction volume expanding by 29.6%, while daily active addresses grew by 11.4% in a single day. Transactions greater than $100,000 jumped from 99 to 170.

Coinglass data shows DOGE open interest plunged 16% to $3.8 billion, reflecting cautious sentiment. Derivative trading volume jumped 103.9%, with $24 million liquidated in the past 24 hours, $21.2 million of which were long positions.

Community News: Shiba Inu's lead visionary Shytoshi Kusama announced he would step down from his role to become the project's lead ambassador. This strategic shift aims to enhance global adoption of Shiba Inu.

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