"Memecoins Tumble: Dogecoin, Shiba Inu Face Uncertainty Amid Crypto Slump"

The cryptocurrency market has been grappling with a lack of momentum, with top tokens experiencing significant losses in their respective portfolios. Notably, these tokens have struggled to maintain their value above crucial support levels, indicating growing uncertainty in price action. As the market becomes increasingly volatile, investors are closely monitoring their portfolios, with fear of missing out (FOMO) and fear, uncertainty, and doubt (FUD) prevalent.

Two prominent memecoins, Dogecoin (DOGE) and Shiba Inu (SHIB), have been facing challenges in recent times. Dogecoin's price has dropped by approximately 3% in the past 24 hours, with a trading volume of $1.821 billion. Over the last seven days, it has lost 23.84%, and in the past 30 days, it has declined by 25.16%. Year-to-date, Dogecoin has seen a return of -21.59%, with a market cap of $36.633 billion.

Technical indicators suggest a bearish outlook for Dogecoin. The Relative Strength Index (RSI) shows a bearish curve in its daily time frame, nearing the oversold range. The Simple Moving Average (SMA) indicator has been acting as a resistance to the chart, potentially leading to further losses in the near future. However, if the bulls regain momentum, Dogecoin's price could breach its resistance of $0.265 and target its upper high of $0.325. Conversely, an increase in bearish action could pull the price toward its low of $0.200.

Shiba Inu, the second-largest memecoin by market capitalization, has also been struggling. Despite a recent jump of 2.98% over the past day, its price has lost 16.53% in valuation over the last seven days and 25.68% in 30 days. With a market cap of $9.271 billion, it currently ranks 16th in the global crypto market list.

The Moving Average Convergence Divergence (MACD) for Shiba Inu records a rising red histogram, with its averages displaying a similar price trend. Additionally, the Exponential Moving Average (EMA) 50