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Why Shiba Inu and Dogecoin Prices Are Falling: 3 Key Factors
#shiba⚡ #Doge #Memecoins
Shiba Inu (SHIB) and Dogecoin (DOGE) are facing declines due to Bitcoin's price crash and capital shifting to newer tokens.
DOGE dropped 5.45%, while SHIB fell 3.3%.
3 Key Reasons for the Decline
Profit-Taking & Capital Rotation: Investors are reallocating funds to newer tokens with higher return potential, weakening DOGE and SHIB.
September Slump: Historically, September is tough for crypto. Bitcoin is down 6.19% this month, impacting both meme coins.
Bitcoin’s Crash: Bitcoin’s fall to $53,000 has dragged down the entire market, including DOGE and SHIB.
Conclusion: SHIB and DOGE's drop follows broader market trends, influenced by Bitcoin's weakness and typical September challenges. Traders remain cautious.
