DOGE fell through the first major support level (S1) at $0.0626 and the second major support level (S2) at $0.0612 to end the day below – $0.060.
After losing 1.00% on Monday, Shiba Inu Coin (SHIB) traded 6.06% lower to end the day at $0.0000121.
Tracking the broader market, SHIB rose to a mid-day high of $0.0001307 before retreating. Below the first major resistance level (R1) at $0.0000133, SHIB declined to as low as $0.0000119. SHIB fell through the first major support level (S1) at $0.0000125 and the second major support level (S2) at $0.0000121 before ending the day at $0.0000121.
For DOGE and SHIB, news of Twitter shareholders voting in Elon Musk’s $44 billion bid failed to provide support. The $258 billion lawsuit is likely to limit Musk’s influence on meme coins.
In contrast, US economic indicators weighed, with the US CPI report for August sending the DOGE and SHIB indexes into the deep red.
Chiba Inu (Chip) price action
At the time of writing, SHIB stock is up 1.90% to $0.0001233.
A bullish start to the day saw SHIB stock rise from an early low of $0.0001201 to a high of $0.0001234.