XRP News Today: Dogecoin Plunges 5% as XRP and Shiba Inu Face Sell-Off Pressure

Dogecoin (DOGE) has experienced a sharp downturn in early August, plummeting nearly 5% in 24 hours and extending its weekly decline to 12% [1]. The sell-off pushed the price below the $0.205 support level, triggering a spike in trading volume that reached nearly 878 million tokens in a single session. Analysts have attributed this drop to a combination of institutional exits and increased market risk aversion, with some warning that the trend could spill over to other meme coins such as XRP and Shiba Inu (SHIB).

The bearish sentiment is further supported by historical patterns: August has consistently delivered negative returns for DOGE over the past three years [1]. Current technical indicators suggest further declines toward $0.185 unless the price reclaims key support levels soon. This dynamic has shifted attention to XRP and SHIB, where similar sell pressure and vulnerability are now emerging.

XRP, Ripple’s flagship token, is currently trading near $3.07, having fallen from a recent high of $3.65 [3]. Despite regulatory clarity in 2025, the token has been unable to break through resistance at $3.09, with support forming at $2.91. Analysts have noted a rise in short positions and large whale transfers, which are introducing instability into the market. If the price fails to stabilize and remains below $2.91, a cascade of selling could follow, potentially driving XRP toward $2.06.

Meanwhile, Shiba Inu (SHIB) is under pressure despite ongoing token burns. The price has declined more than 35% year-to-date and nearly 8% in the past day alone [1]. The bearish trend has persisted for months, with sellers dominating the market despite over 600 million tokens being burned recently. Technical analysis suggests a potential rally to $0.000015 if SHIB breaks above $0.000013 resistance, but for now, the outlook remains bearish as broader crypto-linked assets and speculative capital continue to retreat.

Amid the uncertainty surrounding DOGE, XRP, and SHIB, investor attention is shifting toward newer altcoins with stronger fundamentals. Projects like MAGACOIN FINANCE are drawing interest for their audited and security-verified structures, as well as zero-tax models that appeal to both whales and early-stage investors. The project’s active presale and structured roadmap position it as a potential alternative for those looking to capitalize on the altcoin market’s evolving dynamics [1].

Overall, the market is at a critical juncture. With whales repositioning capital and regulatory decisions looming, the path forward for meme coins remains uncertain. While short-term volatility persists, some analysts remain cautiously optimistic, pointing to historical support levels and potential bull market scenarios for DOGE if accumulation resumes and sentiment stabilizes [1].

Source:

[1] Dogecoin Price Drops 5%—Analysts Warn XRP and Shiba Inu Could Be Next

https://coinmarketcap.com/community/articles/689573da2a7c9f18c875a153/

[2] Shiba Inu to $0.01: Expert Dismisses “Impossible” Claim

https://thecryptobasic.com/2025/08/07/shiba-inu-to-0-01-expert-dismisses-impossible-claim/

[3] XRP on the edge: whale dump sparks free-fall fears as SEC ruling looms

https://coinjournal.net/news/xrp-on-the-edge-whale-dump-sparks-free-fall-fears-as-sec-ruling-looms/

[4] Dogecoin (DOGE) Price Prediction: 2025 Cycle Peak

https://www.mitrade.com/au/insights/news/live-news/article-3-1021701-20250808

[5] Shiba Inu Shows Bullish Signals Amid 3464% Burn Surge

https://www.ainvest.com/news/shiba-inu-shows-bullish-signals-3464-burn-surge-price-rally-2508/

[6] Dogecoin Hits 'Historical Buy Zone,' New DOGE Price Outlook

https://u.today/dogecoin-hits-historical-buy-zone-new-doge-price-outlook-says

[7] Dogecoin Price Prediction: Is Maxi Doge Stealing the Show?

https://icobench.com/news/dogecoin-price-prediction-will-doge-hold-or-slide-as-traders-eye-maxi-doge/