Zinger Key Points
- Bitcoin’s sharp drop to $95,000 following Trump’s tariff announcement dragged meme coins lower.
- Despite price declines, SHIB whale transactions surged and DOGE remains bullish on technical indicators.
Dogecoin DOGE/USD and Shiba Inu SHIB/USD suffered double-digit losses overnight as Bitcoin BTC/USD briefly slumped to $92,000.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Dogecoin DOGE/USD | $0.2571 | $38 billion | -12.6% | -17.6% |
| Shiba Inu SHIB/USD | $0.00001484 | $8.7 billion | -13.5% | -16.8% |
| PEPE PEPE/USD | $0.059745 | $4.09 billion | -19.2% | -21.4% |
Trade Notes: Crypto trader Tardigrade reassured that DOGE's pullback is part of a macro cycle.
In 2016, DOGE retraced 59.8% before a 9,221% rally, and in 2020, it lost 56.2% ahead of a 30,693% surge. "When in doubt, check the macro chart," he advised.
Benzinga technical analysis shows Shiba Inu's RSI at 22.2 suggests it is oversold, with a possible rebound opportunity on the horizon.
Moving averages show a long-term uptrend, with the 100-day SMA above the 50-day and 200-day SMAs.
Community News: In a video on X on Feb. 1, Shiba Inu lead developer Shytoshi Kusama teased a major ecosystem upgrade, saying, “something is shifting… the key to the future is about to be unlocked." He implies that the update will change everything as something big is coming.
Statistics: Shibarium scan data shows daily transactions spiking from 3.9 million to 4.75 million in 24 hours.
Shibburn data shows 1.9 million SHIB removed from the ecosystem six hours ago.
Shiba Inu large transaction volume surged 149.7% while daily active addresses were up by 5.4% as transactions greater than $100,000 increased from 104 to 215.
Dogecoin and Shiba Inu liquidations in the past 24 hours stand at $91.4 million and $7.55 million, respectively. Open interest in DOGE and SHIB are down by 28.6% and 41.8%, respectively.
Whale Alert data shows some significant whale movements in DOGE, with around 200 million DOGE transferred from an unknown wallet to Binance in one transaction and 800 million moved between two unknown wallets.
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