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Dogecoin and Shiba Inu each fell about 9% amid Bitcoin’s slide toward $60,000, breaking key support levels and sparking fresh downside risk.
Dogecoin (DOGE) slid from $0.0891 to $0.0830 and Shiba Inu (SHIB) dropped from $0.000004997 to $0.000004630, each shedding roughly 9% as Bitcoin hovered near the psychologically important $60,000 mark, widening the risk‑off wave across meme‑coin markets【2】.
| At a glance | |
|---|---|
| DOGE price | $0.0830 |
| DOGE 24h change | –9% |
| SHIB price | $0.000004630 |
| SHIB 24h change | –9% |
| Catalyst | Bitcoin sliding toward $60,000, triggering liquidations【2】 |
| Key level (DOGE) | $0.0819 support; break could push toward $0.067【2】 |
| Key level (SHIB) | $0.000004575 support; break could expose $0.000004500【2】 |
Both tokens broke their recent ascending channels, a pattern that had guided DOGE’s price since February. The breach of DOGE’s channel shifts focus to lower support near $0.067, while SHIB remains below all major moving averages, printing lower highs and lows despite ongoing token burns and ecosystem efforts【2】. Volume spikes coincided with the breakdowns rather than rebounds, indicating sellers retained control throughout the session.
The broader crypto market turned risk‑off as Bitcoin’s drift toward $60,000 triggered widespread liquidations, pulling futures open interest lower for DOGE and leaving SHIB open interest near cycle lows【2】. Despite sizable exchange outflows that would normally suggest accumulation, neither token showed a durable reversal, and oversold momentum readings have yet to translate into price recovery【2】.
From a longer‑term perspective, both meme coins have struggled to shed their speculative image. Dogecoin, once buoyed by Elon Musk’s public endorsements and limited use cases such as payments for Tesla merchandise and AMC tickets, remains down 86% from its May 2021 peak of $0.74【1】. Shiba Inu, despite attempts to build a DeFi ecosystem—including ShibaSwap, Shib the Metaverse, and the Shibarium layer‑2—has fallen 93% from its October 2021 high and trades well below $0.01, with a massive supply of 589.55 trillion tokens that undermines scarcity【1】【3】.
The 9% plunge underscores how tightly meme‑coin prices are tethered to Bitcoin’s momentum. With both tokens now trading below key support levels and lacking clear fundamental catalysts, the next price moves will likely hinge on broader market risk appetite rather than token‑specific developments.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jul 28, 2026 · How we report
The rally was driven by a broader crypto market recovery, high trading volume, and a surge in token burns from the Woof Swap V3 launchpad, according to Benzinga and LuckSide Crypto.
Yes, Santiment reported 52 whale transactions worth at least $100,000 on July 26, indicating that large holders were selling into the price surge.
Trading volume exceeded $500 million in a 24‑hour period, with a 64% rise in futures open interest over the week, as reported by Benzinga and Coinglass.
Burns reached a one‑year high, with 1.125 billion SHIB burned in a single day followed by 1.092 billion the next day, reducing circulating supply.
Analysts note short‑term volatility with profit‑taking by whales and late retail entry, suggesting a neutral to slightly bullish outlook.