Bitcoin News: DOGE and SHIB Hit Lowest Point Since January

Dogecoin and Shiba Inu, two popular meme coins, have both dropped to multi-week lows due to a sell-off at Silvergate bank, impacting the overall sentiment in the cryptocurrency market. Dogecoin fell to its lowest point since January 9th, breaking below a key support point in the process, while Shiba Inu fell to its weakest point since January 25th. The decline in Shiba Inu has resulted in the RSI falling to a two-month low, tracking at 38.30, which is in bearish and oversold territory. However, both meme coins have seen slight rebounds from earlier lows, as bears seemingly take profits. The global cryptocurrency market cap is down 3.63%, with the sell-off at Silvergate bank being a contributing factor. It remains to be seen whether meme coins will rebound this weekend.

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About The Author

Niels I have been passionate about dogecoin since 2019, and have since become an avid follower and advocate of the cryptocurrency. I keep a close eye on the Dogecoin market and trends, and I'm always up-to-date with the latest news and developments. As a true believer in the potential of dogecoin, I am excited to be a part of the growing community and I'm eager to share my knowledge and experience with others. When not busy with dogecoin, I enjoy golf, and I can often be found on the golf course.

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