Global #meme coin

Dogecoin (DOGE), the meme-inspired cryptocurrency, has recently grabbed headlines once again, even as the broader crypto market faces a bearish trend.

The meme coin market is experiencing a significant downturn, with leading cryptocurrencies like Dogecoin (DOGE) and Shiba Inu (SHIB) seeing substantial declines.

Since Dogecoin (DOGE) saw its value drop to a seven-month low of $0.08 on August 5 amid a broader market downturn, the leading meme coin has demonstrated a pattern of consolidation.

Dogwifhat (WIF) has experienced a notable decline in price over recent days, nearly undoing the gains made by the meme coin. Mixed investor sentiment and broader market uncertainty are contributing to this downward trend.

The Pepe (PEPE) meme coin has been struggling to break past the $0.0000085 resistance zone, a level that previously acted as support in July. Recent whale activity has failed to ignite a bullish trend, and PEPE is now approaching its nearest support zone with significant downward pressure.

On Wednesday, Shiba Inu (SHIB) saw a minor decline of 0.1% following a pivotal loss of a key accumulation zone. Despite this, on-chain and technical indicators suggest that the meme coin might experience a brief rally if certain conditions are met.