Dogecoin, Shiba Inu Tumble 9% as Bitcoin Slides Toward $60,000
Updated
Updated · CoinDesk · Jun 5
Dogecoin, Shiba Inu Tumble 9% as Bitcoin Slides Toward $60,000
3 articles · Updated · CoinDesk · Jun 5
Summary
Dogecoin fell to $0.0830 and Shiba Inu to $0.000004630, with both memecoins breaking key support as selling intensified across crypto markets.
Bitcoin’s slide toward $60,000 drove a broader risk-off move, triggering liquidations and pushing traders out of the market’s most speculative tokens first.
Heavy volume hit during the breakdowns rather than rebounds, while DOGE futures open interest fell and SHIB open interest stayed near cycle lows—signs sellers still control the trade.
Technical levels now point lower: DOGE risks a move toward $0.067 if $0.0819 fails, while SHIB could test $0.000004500 if support near $0.000004575 gives way.
Exchange outflows in both tokens usually signal accumulation, but for now macro pressure and momentum are outweighing those bullish cues, leaving former support as immediate resistance.