Dogecoin Down 6%, Shiba Inu Slumps 8%: What Is Going On?

Benzinga · 01/07 17:14

Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) are falling on Tuesday, as Bitcoin finds itself trading back below $98,000.

Cryptocurrency Price    Market Cap 24-Hour Trend 7-Day Trend
Dogecoin (CRYPTO: DOGE)  $0.3669 $54.12 billion -5.8% +12.9%
Shiba Inu (CRYPTO: SHIB)  $0.00002253 $13.3 billion  -7.9%   +3.9% 
Pepe (CRYPTO: PEPE)  $0.00001906   $8 billion -9.8%  -10.4% 

Trader Notes: Crypto chart analyst Ali Martinez flagged a sell signal on DOGE’s daily chart, predicting a potential price correction.

More Crypto Online sees Dogecoin having dipped below upper micro support.

A drop to $0.30 is possible before a potential rally, which could present a buying opportunity.

Benzinga's technical analysis shows SHIB's Relative Strength Index (RSI) at 66.6, signaling strong bullish momentum but approaching overbought territory.

An RSI near 70 often hints at a possible correction as upward pressure wanes.

Statistics: IntoTheBlock data shows Shiba Inu large transaction volume spiking by 37.3% and transactions greater than $100,000 having increased from 82 to 113 in a single day.

Around 51% SHIB holders are in profit, 43% are underwater.

Shibariumscan data shows Shiba Inu's Layer-2 network maintaining over 4.7 million daily transactions since early 2025.

Shibburn reports a significant burn of 21.09 million SHIB in a single transaction.

Community News: Whale Alert data shows 1.64 trillion SHIB, worth $39 million, transferred from Crypto.Com to an unknown wallet.

A 70.08 million DOGE transfer, worth $27 million, was initiated on Jan. 7 by a mysterious whale from an unknown blockchain address.

The Shiba Inu community announced the impending launch of the TREAT token on Jan.14, promising to revolutionize the SHIB ecosystem.

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