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.