Shiba

Dogecoin

Shiba Inu

Rekt

Coin

<p>Popular meme-based cryptocurrencies PEPE, Dogecoin (DOGE), and Shiba Inu (SHIB) have seen price drops over the past 24 hours. According to data from CoinMarketCap, PEPE is down 0.75% and trading at <a href="https://coinmarketcap.com/currencies/pepe/" target="_blank" rel="noopener noreferrer nofollow">$0.000003</a>, DOGE is down 7.42% at <a href="https://coinmarketcap.com/currencies/dogecoin/" target="_blank" rel="noopener noreferrer nofollow">$0.119322</a>, and SHIB has plunged 7.24% to <a href="https://coinmarketcap.com/currencies/shiba-inu/" target="_blank" rel="noopener noreferrer nofollow">$0.000013</a>, as of this publication.</p>
<p>Two key reasons are driving this broad-based sell-off across the major meme coins:</p>
<h2 class="wp-block-heading" id="strong-profit-taking-after-recent-rallies-strong"><strong>Profit-Taking After Recent Rallies</strong></h2>
<p>These <a class="wpil_keyword_link" href="https://captainaltcoin.com/meme-coins/" title="memecoins" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">memecoins</a> have lately witnessed massive price pumps which can often prompt experienced crypto traders to take profits off the table after these parabolic ascents. Furthermore, market analyst Rekt Capital <a href="https://x.com/rektcapital/status/1763139645649437164?s=20" target="_blank" rel="noopener noreferrer nofollow">notes</a> a critical observation in DOGE’s market behavior, noting that a monthly closure above the prevailing macro downtrend line could be a pivotal moment for DOGE. This highlights a short-term bearish trend for DOGE which per Rekt is poised for a macro uptrend as it has closed above the downward trend line.</p>
<h2 class="wp-block-heading" id="strong-lack-of-long-term-confidence-strong"><strong>Lack of Long-Term Confidence</strong></h2>
<p>Additionally, while meme coins often see speculative manias and viral rallies, most traders do not view them as long-term investments compared to cryptocurrencies like Bitcoin. With Bitcoin’s next halving event arriving in April 2024, the focus is returning to more established coins like BTC that traders believe have enduring value.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>The key? Getting in early, especially during the IDO phase. <strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow">Get in on NuggetRush</a></strong> now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the<strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"> current ICO prices</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p>Technical indicators reflect this cooling off across the meme coins. For example, PEPE’s daily RSI is at 77.91, indicating overbought conditions. Similarly, DOGE and <a class="wpil_keyword_link" href="https://captainaltcoin.com/shiba-inu-price-prediction/" title="SHIB" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">SHIB</a> both exhibit daily RSI readings of 85.53 and 85.75, indicating that these assets are technically overextended. Consequently, many traders are beginning to anticipate a retracement.</p>
<p>In summary, a combination of profit-taking after recent spikes and rotation back into cryptos with deeper value is driving the steep drops in PEPE, DOGE, and SHIB over the last day. Savvy crypto traders will be monitoring risk and positioning their portfolios accordingly amidst this volatility across the popular meme coins.</p>
<p>You may also be interested in:</p>
<ul>
 <li><a href="https://captainaltcoin.com/ripples-xrp-token-on-the-verge-top-expert-predicts-bullish-momentum-pay-attention-to-these-metrics/" target="_blank" rel="noopener noreferrer nofollow">Ripple’s XRP Token on the Verge: Top Expert Predicts Bullish Momentum – Pay Attention to These Metrics</a></li>
 <li><a href="https://captainaltcoin.com/bitcoins-btc-rally-ushers-in-the-altcoin-era-ethereum-eth-solana-sol-and-more-set-to-soar-experts-highlight-these-key-metrics/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s (BTC) Rally Ushers in the Altcoin Era: Ethereum (ETH), Solana (SOL), and More Set to Soar – Experts Highlight These Key Metrics</a></li>
 <li><a href="https://captainaltcoin.com/expert-urges-caution-on-long-term-meme-coin-holdings-dogecoin-shiba-inu-and-others/" target="_blank" rel="noopener noreferrer nofollow">Expert Urges Caution on Long-Term Meme Coin Holdings; Dogecoin (DOGE), Shiba Inu (SHIB), and Others</a></li>
</ul>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-nuggetrush-nugx-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check NuggetRush ($NUGX)</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy NUGX Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/meme-coin-market-turbulence-pepe-dogecoin-doge-shiba-inu-shib-prices-plummet-heres-why/" rel="noopener noreferrer nofollow">Meme Coin Market Turbulence: PEPE, Dogecoin (DOGE), Shiba Inu (SHIB) Prices Plummet – Here’s Why</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Meme Coin Market Turbulence: PEPE, Dogecoin (DOGE), Shiba Inu (SHIB) Prices Plummet – Here’s Why

Table of Contents

CaptainAltcoin

Other articles published on Mar 1, 2024

Celer Network (CELR) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

ConstitutionDAO (PEOPLE) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Enthusiasm Builds as Dogwifhat (WIF) Coin Value Soars

Bitcoin will settle at $55k before setting new all-time high, Novogratz says

$STX Price Surge Predicted by Pantera Capital

Dora Factory (DORA) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Join our free newsletter for daily crypto updates!