I just noticed that meme coins are taking a beating. Bitcoin dropped to $77.43k and that dragged everything else down with it. Dogecoin is at $0.10, Shiba Inu fell to $0.00, and even Pepe meme remains under pressure. The meme coin market is so sensitive to Bitcoin's movements; any significant drop causes all of them to fall together.

What's interesting is that Shiba Inu recently experienced a massive increase in token burns—more than 3.8 million SHIB taken out of circulation—but even that couldn't withstand the selling pressure. Dogecoin tried to break upward earlier this week but was stopped cold. Pepe meme also remains stuck without a clear direction.

Now the market is waiting to see if Bitcoin can stabilize. Until that happens, all these meme coins will continue hanging by a thread. The support level for Shiba is at $0.00000526; if it loses that, there could be more decline. Volatility is at its maximum, and the sentiment is bearish for now.