TL;DR

• DOGE is down

• SHIB is down

• Altcoin Sell-Off on April 1 Sparks Market Turmoil

• Shiba Inu Faces 20% Drop, Burn Rate Rises 30%

• Elon Musk Denies U.S. Government Adoption of Dogecoin

• Husky Inu Announces HINU Token Launch Date

• DOGE Official at DOJ Faces Hacking Past Scrutiny

• Elon Musk Denies DOGE Resignation Rumors

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Dogecoin Price

Crypto is down this week, with DOGE down 16.4% and SHIB down 14.8%:

Weekly Analysis

This weekly analysis is majorly on the top two MEME coin

Dogecoin (DOGE) has experienced a significant downturn over the past week, shedding more than 16% of its value as it grapples with persistent selling pressure. Technical indicators present a mixed outlook, hinting at a potential recovery while broader sentiment remains uncertain, particularly following Elon Musk’s statement distancing DOGE from U.S. government plans.

Technical Indicators Show Signs of Recovery

Despite the recent price decline, technical indicators suggest that Dogecoin could be nearing a shift in momentum. The Ichimoku Cloud setup indicates volatility, with the price bars trading below the cloud, confirming a downtrend.

However, a key signal emerges as the Conversion Line begins to curve upward toward the Base Line, suggesting an increase in buying pressure. A breakthrough above the cloud could solidify a bullish reversal, though market sentiment remains cautious.

The BBTrend indicator, which tracks market momentum, remains in negative territory at -11.78, improving slightly from -13.96. Readings below -10 indicate strong bearish momentum, but the gradual recovery suggests that selling pressure may be losing strength.

This hints at a potential technical bounce or consolidation phase in the near term. Analysts note that for a confirmed trend reversal, the BBTrend must decisively move toward neutral or positive territory.

Key Resistance and Support Levels

Dogecoin’s immediate resistance level sits at $0.179. A successful breakout above this threshold could pave the way for DOGE to challenge higher targets, potentially reaching $0.20.

However, the EMA alignment remains bearish, with short-term moving averages still trailing below long-term ones. Unless this structure flips, DOGE remains at risk of further declines.

If bearish pressure continues, Dogecoin faces a critical support level at $0.16, which has proven resilient in past downturns. A breakdown below this level could lead to an extended decline toward $0.14, marking a significant drop from current levels.

Elon Musk’s Statement Dampens Sentiment

Elon Musk’s recent comments have impacted Dogecoin’s market sentiment, causing traders to reassess their expectations. In a town hall meeting in Wisconsin, Musk clarified that the U.S. government has no plans to integrate Dogecoin into any official programs.

He stated, “There are no plans for the government to use Dogecoin for anything as far as I know…The names are similar, but they’re doing two very different things.”

This announcement disappointed Dogecoin traders who had speculated about potential government adoption. While Musk has previously influenced DOGE’s price with endorsements, his recent distancing from the token raises concerns about its long-term hype-driven appeal.

Derivatives Market and Trader Sentiment

Despite the broader uncertainty, Dogecoin derivatives traders remain optimistic. Data from Binance and OKX show a long/short ratio of 3, indicating that a majority of traders are betting on DOGE’s price increasing. Additionally, options volume surged 181.45% in the last 24 hours, suggesting increased interest in speculative trades.

Sentiment among Dogecoin holders currently sits at 69 out of 100, reflecting cautious optimism. While the overall hype surrounding Dogecoin has cooled, whale accumulation remains strong. Large holders acquired an additional 220 million DOGE in March, a factor that could support future price stability.

Conclusion

Dogecoin remains at a crossroads as early recovery signals clash with bearish technicals. The Ichimoku Cloud and BBTrend hint at a potential turnaround, but the EMA structure remains bearish. While Musk’s comments have dampened sentiment, derivatives traders remain confident. Reclaiming $0.179 as support will be key for DOGE’s momentum.

Shiba Inu Market Update: Whale Accumulation and Burn Surge

Shiba Inu (SHIB) has faced notable market turbulence, with key on-chain metrics showing sharp declines while whale activity and token burns paint a complex picture of its trajectory.

Despite an 83% drop in large holders' netflow activity, analysts suggest a potential bullish turnaround due to accumulation trends. Meanwhile, the SHIB burn rate has skyrocketed, but its price remains subdued.

Whale Accumulation Despite Declining Netflow

According to IntoTheBlock, net inflows and outflows in whale wallets—holding at least 0.1% of SHIB’s circulating supply—plummeted by 83% in the last 24 hours. This sharp decline signals reduced large-scale trading activity.

However, the netflow balance improved from -141.37 billion SHIB to -29.05 billion SHIB, suggesting that major holders are accumulating rather than offloading their tokens.

Analysts highlight that SHIB has lost 67% of its value since December 1, dropping from $0.00003343 to its current range of $0.00001082. This prolonged bearish period raises questions about whether SHIB has reached a bottom and if accumulation by large holders could lead to a reversal.

SHIB Burn Rate Soars Over 104,000%

On the deflationary front, Shiba Inu’s burn mechanism saw a dramatic 104,201% increase, removing over 115 million SHIB from circulation in just 24 hours. Data from Shibburn confirms that the project has burnt 1.17 billion SHIB over the past week, contributing to a total burn of 410.72 trillion tokens.

Notably, a single wallet, identified as “0xc439514852e132c,” was responsible for burning 92.64 million SHIB in one transaction, underlining the growing role of individual participants in the deflationary strategy.

However, while burns theoretically reduce supply and can drive up prices, SHIB’s massive circulating supply—still at 589.25 trillion—dampens the immediate impact.

Shibarium Milestone and Market Sentiment

Beyond burning efforts, Shiba Inu’s Layer-2 blockchain, Shibarium, continues to grow, surpassing 1 billion transactions since its August 2023 launch. This expansion enhances SHIB’s utility through lower transaction fees and faster processing times, fueling optimism for long-term adoption.

Despite these developments, SHIB’s price remains under pressure. CoinMarketCap data shows a 3.28% drop in the last 24 hours to $0.00001233, while weekly losses stand at 20%. Analysts attribute this to broader market bearishness, including concerns over macroeconomic uncertainties linked to President Donald Trump’s tariff policies.

While accumulation and burns suggest long-term bullish potential, short-term price action remains weak, making SHIB’s next move a crucial point of interest for investors.

Financial News

$2K PEPE Trade Nets $10M Profit

A crypto trader turned a $2,000 PEPE investment into $43 million at its peak, ultimately cashing out $10 million in profits. Despite PEPE’s 74% decline from its all-time high, the trader secured gains by selling 1.02T tokens for $6.66M while holding 493B PEPE worth $3.64M.

Memecoins continue to dominate market trends, drawing capital away from established assets like Solana. However, rising concerns over insider scams and regulatory scrutiny have led lawmakers to propose new investor protection measures, underscoring the risks associated with speculative tokens despite their potential for massive returns.

BNB Chain Gains as Solana Cools

BNB Chain is capturing memecoin volume from Solana as speculative capital shifts. Solana, once dominant, faced trust issues after insider trading allegations, opening the door for BNB Chain’s rise. Platforms like PancakeSwap and Four.meme are driving activity, with BNB Chain topping DEX volumes for multiple days.

Binance’s support, liquidity incentives, and viral trends like Broccoli-themed tokens have fueled momentum. While Solana still leads in transaction volume, its memecoin market is cooling. Experts view this as a cyclical shift rather than a permanent change, reflecting evolving trader behavior and market trends in the ever-volatile DeFi landscape.

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