Summary: Shiba Inu (SHIB) Lost It All, Dogecoin (DOGE): This Is Unexpected, Ethereum (ETH) Too Strong

Crypto Rollercoaster: Meme Coins Plummet While Ethereum Shines Bright The cryptocurrency market is experiencing dramatic shifts, with contrasting performances among major assets. While meme coins Shiba Inu (SHIB) and Dogecoin (DOGE) face significant downturns, Ethereum (ETH) stands out as remarkably resilient and strong. Shiba Inu recently relinquished nearly all its July gains. A failed breakout above $0.000015 led to a sharp plunge, wiping out weeks of progress. Increased selling pressure and a falling RSI indicate panic, pushing SHIB towards further breakdown. Its earlier rally, driven by speculation, lacked the foundational support for sustained growth, proving highly susceptible to sentiment changes. Dogecoin also suffered a shocking 22% decline, reversing most of its strong recent rally. Despite a robust uptrend, DOGE's sharp drop from overbought conditions, confirmed by an aggressive volume spike, erased critical support. This reversal impacts DOGE's outlook and could dampen broader investor confidence in meme coins, especially as DOGE led speculative altcoin movements. In stark contrast, Ethereum demonstrates exceptional robustness, defying the market narrative. ETH maintains dominance with strong structural support and consistent volume, surging higher after breaking multi-month resistance and approaching $3,900. While Bitcoin and meme coins falter, ETH continues making higher lows, signaling institutional confidence and a potential shift of funds into the leading altcoin. Ethereum’s resilience positions it to potentially pull the market from its current slump.