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Biggest Movers: Meme Coins Move Lower, With SHIB Declining by 10%

Meme coins moved lower on Jan. 19, as cryptocurrency markets plunged following recent highs. Shiba inu, which rose to a nine-week high on Wednesday, fell by nearly 10% today. Markets have been largely overbought in the past few days, with bears seemingly reentering. Dogecoin was also in the red today.

Shiba inu (SHIB), which was one of Wednesday’s biggest gainers, climbing by as much as 17%, fell by over 10% today. Following a high of $0.00001295 in yesterday’s session, SHIB/USD dropped to an intraday low of $0.00001097 earlier today. Thursday’s drop came as the meme coin was unable to cross a long-term resistance level at $0.00001300.

Like Shiba inu, Dogecoin (DOGE) also declined on Thursday, with prices falling for a fifth straight day. Since rising to a one-month high on Saturday, the meme coin has moved lower in consecutive sessions. Today’s low saw DOGE/USD slip to a bottom of $0.08013, which is nearly 8% lower than Wednesday’s peak.

Dogecoin Dogecoin $0.38
-7.26%
Shiba Inu Dogecoin
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