Major meme cryptocurrencies Dogecoin (DOGE) and Shiba Inu (SHIB) suffered significant losses amid heightened market volatility, while Ethereum (ETH) demonstrated remarkable resilience with a substantial price surge.
Shiba Inu reversed nearly all its July gains after failing to maintain momentum above the $0.000015 resistance level. The sharp decline resulted in SHIB breaking key support levels, highlighting its susceptibility to abrupt market sentiment shifts.
Dogecoin plummeted 22% following a strong rally, erasing much of its recent gains. This dramatic pullback underscores the intensified volatility within the meme coin market segment and signals broader structural fragility for particularly speculative crypto-assets.
Ethereum defied the broader downturn by surging toward $3,900 after decisively breaking through multi-month resistance at $2,700. ETH’s resilience stems from institutional confidence, the absence of aggressive selling pressure, and consistent chart patterns exhibiting higher lows that signal market strength.
The divergent performances illustrate Ethereum’s growing institutional adoption and technical stability compared to sentiment-driven meme coins. ETH’s position appears increasingly favorable for continued growth, with significant upside potential beyond the $4,000 threshold.