DOGE and SHIB plunge 9% as BTC slides toward $60K!

Dogecoin and Shiba Inu each shed roughly 9% as Bitcoin drifted toward the psychologically critical $60,000 level, with the sharpest selling concentrated in the most speculative corners of the market. Dogecoin fell from $0.0891 to $0.0830, breaking the ascending channel that had guided price action since February. Shiba Inu dropped from $0.000004997 to $0.000004630, slicing through support near $0.000004780 on heavy volume.

Why it matters

Memecoins are typically the first destination for risk appetite — and the first to be cut when sentiment sours. The fact that DOGE and SHIB are leading losses rather than merely participating in them signals that the broader crypto risk-off is deepening. DOGE's breakdown below a four-month ascending channel is the more structurally significant development: that support had held since February, and losing it shifts the technical picture meaningfully lower toward $0.067. SHIB's chart looks weaker still — the token remains below every major moving average and continues printing lower highs and lower lows despite aggressive token burns. Derivatives positioning reinforces the bearish read, with DOGE futures open interest falling and SHIB open interest hovering near cycle lows.

Market impact

For DOGE, the line in the sand is $0.0819 — a clean break below it opens the door to $0.067. For SHIB, support near $0.000004575 is the next test; losing it exposes $0.000004500. Recovery attempts face immediate resistance at $0.0883 for DOGE and $0.000004780 for SHIB, both former support levels now acting as overhead supply.