Plunge

Shiba

Ethereum

Bitcoin

Shiba Inu

<ul>
  
 <li><strong>Meme coins, including DOGE and SHIB, experienced losses as the crypto market crashed.</strong></li>   
 <li><strong>SHIB's RSI dropped below 20, hinting at a potential rebound amid reduced selling offs.</strong></li>   
 <li><strong>SHIB outflows have dominated inflows, showing&nbsp; a shift, which could reduce selling pressure.</strong></li> 
</ul>   
<p>Cryptocurrencies have crashed with Bitcoin&nbsp; falling below $50,000 in the last 24 hours. The meme coin’s general market cap dropped by 23%, with major coins like Dogecoin, Shiba Inu, and others experiencing losses.</p>   
<h2 class="wp-block-heading" id="h-meme-coins-suffer-major-losses-amid-market-crash">Meme Coins Suffer Major Losses Amid Market Crash</h2>   
<p>Bitcoin has recorded a great&nbsp; downturn with the situation in the meme coin being the same. The&nbsp; market capitalization currently stands at around . Leading memes, including Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), <a href="https://coinmarketcap.com/currencies/dogwifhat/" target="_blank" rel="noreferrer noopener">dogwifhat </a>(WIF), and many more, are down by double digits, reaching several month lows.&nbsp;</p>   
<p>PolitiFi tokens have performed even worse. <a href="https://cryptonewsland.com/memecoin-creator-account-makenowmeme-suspended-on-x-for-rule-violations/" target="_blank" rel="noreferrer noopener">Meme</a> coins related to the presidential candidate Donald Trump, such as TREMP and TRUMP, have crashed by 35% and 30%, respectively. KAMA, an asset linked to the Democratic nominee Kamala Harris, recorded a fall.</p>   
<h2 class="wp-block-heading" id="h-shiba-inu-shib-shows-potential-for-rebound-despite-market-decline">Shiba Inu (SHIB) Shows Potential for Rebound Despite Market Decline</h2>   
<p>Despite the current trend, some indicators suggest&nbsp; that <a href="https://coinmarketcap.com/currencies/shina-inu/" target="_blank" rel="noreferrer noopener">Shiba </a>Inu’s value may soon record a surge. The SHIB RSI, which measures the speed and change of price movements, has fallen below the 20 mark in the last few days.&nbsp;</p>   
<p>The movement varies from 0 to 100. When it is above 70, this is indicative of overbought conditions, which are known to sometimes lead to a correction. On the other hand when it is below 30, this suggests that the asset is oversold, which might prompt a rise.&nbsp;</p>   
<p>SHIB’s exchange netflow also suggests that the bullish trend might be attained soon. According to <a href="https://sosovalue.com/coins/shiba%20inu" target="_blank" rel="noreferrer noopener">Sosovalue</a>, Shiba Inu outflows have significantly surpassed inflows in the last five days, signaling about a shift from centralized platforms toward self-custody methods. This is generally considered bullish since it reduces the immediate selling pressure.</p>   
<p>The cryptocurrency market recorded a downturn, with Bitcoin (BTC) reading at $54,000 and Ethereum (ETH) dropping to as low as $2474.</p>   
<h4 class="wp-block-heading" id="h-read-also"><strong>Read also:</strong></h4>   
<ul class="wp-block-yoast-seo-related-links yoast-seo-related-links">
  
 <li><a href="https://cryptonewsland.com/how-much-loss-are-btc-holders-recording/">How much Loss Are $BTC Holders Recording?</a></li>   
 <li><a href="https://cryptonewsland.com/is-the-biggest-crypto-crash-of-all-time-brewing/">Is the Biggest Crypto Crash of All Time Brewing?</a></li>   
 <li><a href="https://cryptonewsland.com/playboy-accumulated-4-9m-in-losses-from-ethereum/">Playboy Reveals $4.9M in Losses From Ethereum</a></li>   
 <li><a href="https://cryptonewsland.com/how-shibs-recent-rebound-sets-stage-for-massive-90-surge/">How SHIB's Recent Rebound Sets Stage for Massive 90% Surge</a></li>   
 <li><a href="https://cryptonewsland.com/crypto-market-awaits-massive-value-flow-caused-by-517-billion-in-unrealized-losses-for-us-banks/">Crypto Market Awaits Massive Value Flow Caused by $517 Billion in Unrealized Losses for US Banks</a></li> 
</ul> 
<p>The post <a href="https://cryptonewsland.com/crypto-market-slump-meme-coins-plunge-as-bitcoin-falls-below-50k/">Crypto Market Slump: Meme Coins Plunge as Bitcoin Falls Below $50K</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Crypto Market Slump: Meme Coins Plunge as Bitcoin Falls Below $50K

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