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.