Memecoins dogecoin, shiba inu dive 9% as bitcoin nears $60,000
Hex37's read
- Dogecoin and Shiba Inu experienced significant price drops.
- Both memecoins fell by approximately 9%.
- The decline occurred as Bitcoin approached the $60,000 mark.
- Heavy volume and liquidations contributed to the sell-off.
What it means for traders
- Memecoins are highly sensitive to broader market sentiment and Bitcoin's price action.
- Increased volume and liquidations suggest strong bearish pressure, potentially indicating further downside.
Affected markets
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