Dogecoin and Shiba Inu drop 9% as bitcoin nears $60,000 amid broader crypto sell-off
By
Shaurya Malwa
3h ago· 3 min readenNews
75/100
Toasty
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Crispy enough to crunch, soft enough to enjoy. A good bake.
Score75TypenewsSentimentnegative
Summary
Dogecoin and Shiba Inu memecoins dropped approximately 9% as bitcoin approached the $60,000 level, with the sharpest selling concentrated in speculative crypto assets. Broader market sentiment deteriorated, triggering liquidations across altcoins and memecoins. Derivatives traders moved to defensive positions, with DOGE futures open interest declining and SHIB open interest hovering near cycle lows.
Key quotes
· 3 pulledMemecoins are usually where traders go looking for risk. This week they're where risk is getting cut first.
Dogecoin and Shiba Inu both shed roughly 9% as bitcoin drifted toward the $60,000 level, with the sharpest selling concentrated in the most speculative corners of the market.
Derivatives traders moved into defensive positioning, with DOGE futures open interest falling and SHIB open interest hovering near cycle
Dogecoin and Shiba Inu led losses among major tokens as heavy volume and liquidations overwhelmed support levels, extending a broader risk-off move across crypto markets.
