Bitcoin Drops Below $90,000 Amid Market Decline

TLDR

• Bitcoin is below $90,000, following $230 million ETF outflows.
• Shiba Inu’s burn rate surged by 275.45% in 24 hours.
• Pepe’s RSI is at 31.85, nearing an oversold state.

Bitcoin has experienced a notable drop below $90,000 as of January 21, 2026. This decline follows U.S. tariffs related to the Greenland dispute leading to ETF outflows of approximately $230 million. In addition, crypto position sales have topped $1.08 billion, contributing to a 2.05% decrease in the cryptocurrency market over the past 24 hours.

Meme coins, specifically Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), are facing significant declines amid the broader market downturn. Dogecoin, priced at $0.124, has seen a 1.47% daily decline and is down 16% over the past week. Shiba Inu is up 0.54% daily, trading at $0.000007905, but remains in a falling wedge pattern, while Pepe, at $0.000000507, is down 0.20% daily. The past week has seen these meme coins extend losses by about 7.52%.

Ongoing Market Trends for Meme Coins

The meme coin sector is experiencing a notable downturn, closely correlated with Bitcoin’s decline. Currently, Bitcoin struggles below $90,000, and meme altcoins such as DOGE, SHIB, and PEPE are seeing correlated downward movement. Notably, Ethereum and other Layer 1 or Layer 2 assets, such as governance tokens and DeFi protocols, have not been directly mentioned in connection with this market activity.

According to analysts, DOGE may see a potential breakout above $0.15 if a bullish market trend emerges. However, a dip below $0.12 could risk falling to $0.11. Shiba Inu’s technical analysis indicates a possible rebound to the $0.000010 resistance level, influenced by the surge in the Shiba Inu burn rate.

Shiba Inu Burn Rate Surge

Shiba Inu’s burn rate surged by 275.45% over the past 24 hours. A total of 3,242,097 SHIB tokens were burned, indicating a potential reduction in supply. This increase in the burn rate may support a bullish outlook despite the bearish movements observed more broadly within the meme coin market.

The falling wedge pattern signals potential for a price rebound, but current market conditions remain challenging. No changes have been observed in Total Value Locked (TVL), liquidity shifts, or staking flows related to these tokens.

Technical Indicators for Pepe

Pepe’s Relative Strength Index (RSI) currently stands at 31.85, approaching an oversold state. Key support levels for PEPE are noted at $0.00000045 to $0.00000050, with resistance expected between $0.00000055 and $0.00000070. Despite these established levels, a bearish Moving Average Convergence Divergence (MACD) continues to indicate a persistent downward trend.

Investors and traders may wish to incorporate this information into their decision-making strategies. These predictions highlight the volatile nature of meme coins, emphasizing the potential for both risk and opportunity depending on market dynamics and technical factors.