Why Are Dogecoin and Shiba Inu Price Crashing Over 25% Today?

Renowned meme cryptocurrencies Dogecoin and Shiba Inu price have illustrated an alarming drop as the week kicked off, primarily attributable to the broader market trends. Notably, $SHIB price slumped to as low as the $0.000012 level intraday, whereas $DOGE price plunged to the $0.2 level, sparking investor concerns. A stockpile of factors appears to be driving the current slumping action in the mentioned meme coins, including investor uncertainty and massive liquidations amid broader developments.