Dogecoin and Shiba Inu, once favorites among traders, are now facing serious challenges, losing interest and seeing decreasing performance amid competition.
Reasons for the Decline of Dogecoin and Shiba Inu
After entering turbulent times, Dogecoin and Shiba Inu show sharp declines. Dogecoin has dropped over 30% in a month, while Shiba Inu's trading activity has plummeted more than 50% since early 2024.
Global Factors Affecting the Market
Growing global tensions, particularly the Iran-Israel conflict, are driving investors toward safer assets. Dogecoin is struggling to break resistance at $0.22, while Shiba Inu clings to critical support at $0.000011.
The Future of Meme Coins
The declining interest in Dogecoin derivatives and the exit of major investors from Shiba Inu signal waning confidence. If the situation does not change, both meme coins may face further challenges.
Current circumstances are likely to have a significant impact on the future of Dogecoin and Shiba Inu, which need to regain interest and confidence from investors.
