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Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Jan 27, 2025 07:03 UTC
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SHIB & DOGE Lose 10% Amid Memecoin Market Sell-Off; Here’s Why
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DOGE $ 0.1644 (-3.10%) 
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SHIB $ 0.00001222 (-0.28%)
The memecoin market, led by Dogecoin and Shiba Inu, dropped 10% as Bitcoin fell below $100K, amid rising concerns of a crypto sell-off and stock market instability.
Shiba Inu is testing key support levels, with technical indicators suggesting potential further declines if market pressure continues.
Shiba Inu is evolving into a utility-based memecoin, supported by Shibarium and a growing community of over 1.4 million holders.
The memecoin market, led by Dogecoin (DOGE) and Shiba Inu (SHIB), took a significant hit in the last 24 hours after Bitcoin (BTC) dropped below $100,000 earlier this week. As of now, the total valuation of the memecoin sector has fallen by 10%, currently sitting around $99.8 billion. This decline comes as a result of broader market pressures and growing concerns among investors.
Read on to discover the latest market insights.
Crypto Sell-Off Incoming?
Bitcoin’s recent dip is just one factor contributing to the downturn in the memecoin market. There are increasing fears of a potential crypto sell-off, further fueled by predictions of a Western stock market crash due to a major AI breakthrough in China by DeepSeek. This uncertainty is putting additional pressure on the memecoin industry.
On top of that, over $625 million in crypto positions were liquidated in the past 24 hours, most of them from long trades. This raises the possibility of a long squeeze, which could add further strain to the market.
SHIB Testing Key Support Levels
From a technical analysis standpoint, Shiba Inu (SHIB) is currently trapped in a macro triangular consolidation pattern, similar to the one seen with Ripple Labs’ XRP before it experienced a bullish run to new all-time highs. Crypto analyst Ali Martinez points out that SHIB is now testing a critical support range between $0.0000185 and $0.000021.
If the broader crypto market continues to face selling pressure, SHIB could drop another 10%, potentially reaching the next support level around $0.000016. Moreover, the weekly Relative Strength Index (RSI) has fallen below the 50% mark, suggesting that short-term bears are currently in control.
- Also Read :
- Crypto is Down Today & May Remain Highly Voltile This Week: Here’s What to Expect With Bitcoin & Altcoins
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Long-Term Outlook for SHIB
Through the Shibarium layer 2 scaling solution, the Shiba Inu project has gradually shifted to a utility-based memecoin. As of this writing, the Shibarium network had a dozen Decentralized Financial (DeFi) projects, with a total value locked of about $2.75 million.
With a market cap of $10.6 billion, SHIB remains the second-largest memecoin by market cap and continues to grow its community. Over 1.4 million on-chain holders are backing the token, showing strong support.
As SHIB builds on its utility and community engagement, it’s well-positioned to do well in the long term, even with the short-term market challenges.
Never Miss a Beat in the Crypto World!
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Shiba Inu’s adaptability may just be the key to its long-term survival and growth.
FAQs
By 2025, our price prediction forecasts that the Shiba coin price could be worth $0.00006392. With a potential surge, the price may go as high as $0.000321 by 2030.
With the coming updates and strong community, Shiba Inu remains a strong candidate in the crypto world.
Yes, Dogecoin might definitely be a good investment, if you are looking to invest for the long term.
According to our DOGE price prediction, the meme coin might hit a maximum of $1.07 in 2025.
Yes 
No 
