Dogecoin, Shiba Inu Get Clobbered In Crypto Crash: What's Going On?

Dogecoin DOGE/USD and Shiba Inu SHIB/USD are down 5% and 2% respectively as traders cling on to strong fundamental data to deliver a turnaround in the medium term.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
Dogecoin DOGE/USD	$0.1526	$21.6 billion	-5.3%	-10.7%
Shiba Inu SHIB/USD	$0.00001128	$6.65 billion	-2.2%	-6.9%
Pepe PEPE/USD	$0.0₅6447	$2.7 billion	-4.4%	-8%

Trader Notes: Trader Tardigrade encouraged resilience, saying, "The harder the battle, the sweeter the victory," as Dogecoin retests a key support level from its previous consolidation zone.

He noted that DOGE has now formed a second RSI bullish divergence. The first divergence was weaker, with price making a lower low and RSI remaining flat.

The second, however, shows classic reversal signals—price made a lower low, while RSI made a higher low, suggesting a potential shift in trend.

Dogecoin has formed its second RSI BULLISH DIVERGENCE. 🔥

The first was a weak reversal, characterized by a lower low in $DOGE and an equal low in RSI.
The second is a strong reversal, featuring a lower low in $DOGE and a higher low in RSI. 🚀 pic.twitter.com/YuXJbexrcj
— Trader Tardigrade (@TATrader_Alan) April 7, 2025

Shib Knight observed that SHIB is tightly coiling within a falling wedge pattern, often a precursor to a breakout. He believes the meme coin's prolonged squeeze points to accumulation ahead of a major move, potentially toward new all-time highs.

$SHIB

Lows reached 🎯🎯🎯🎯 https://t.co/6gGQrezWDR pic.twitter.com/m7wxim7yzo
— Nebraskangooner (@Nebraskangooner) April 7, 2025

Statistics: On April 7, Whale Alert tracked a massive transfer of 300 million DOGE (worth approximately $41.7 million) from an unknown wallet to Binance.

Another 22 million DOGE ($3.07 million) was sent to a different unknown wallet, which now holds a staggering 4.29 billion DOGE—valued at over $605 million.

Shibburn data revealed a jaw-dropping 2,060,231.2% spike in SHIB's burn rate within the past 24 hours.

This surge brought a dose of optimism amid a broader market meltdown across both crypto and traditional finance.

Shibariumscan showed that daily transactions dipped slightly from 4.4 million to 3.8 million—still a healthy level of network activity.

IntoTheBlock reported a 47.8% jump in SHIB's large transaction volume. Transactions exceeding $100,000 increased from 29 to 43 in a single day, signaling renewed whale interest.

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