Memecoin

Shiba Inu saw a sharp rise in tokens sent to trading venues, with Exchange Inflow (Total) reaching about 699.3 billion SHIB on June 2. The move came as SHIB hovered near local lows and after a key rising support line from March was broken, pushing price toward $0.0000052-$0.0000053. Exchange reserves climbing toward 80.5 trillion SHIB suggests sell-side pressure may remain elevated.

On June 2, Bitcoin, XRP, Shiba Inu and Dogecoin remained under pressure as several majors revisited key support areas and stayed below important moving averages. BTC slid toward $71,000-$72,000 with RSI around 31, while XRP tested the $1.30 zone and SHIB hovered near $0.0000054 amid weakening momentum. DOGE consolidated near support with $0.10 highlighted as a key level as sellers continued to control the broader trend.

House of Doge said its partnership with Paxos went live on June 1, 2026, enabling DOGE to be supported through the same custody and brokerage infrastructure used by PayPal, Venmo, Interactive Brokers and other clients. Paxos will provide custody, liquidity and compliance services, while each platform decides whether to list Dogecoin. DOGE was trading at $0.10 at the time of writing, down 1.7%, with ~$952 million in volume and a 1% uptick over the past 24 hours.

About 178 billion SHIB flowed back to exchanges on Monday, pushing exchange reserves back above 80 trillion SHIB and interrupting the token's latest recovery attempt. SHIB also broke down from a rising-wedge pattern and remains below its 50-, 100- and 200-day moving averages, with RSI drifting toward the mid-30s. The $0.0000053 area is highlighted as the nearest key support, where a decisive break could add downside pressure.

HYPE, the native token of Hyperliquid's decentralized exchange ecosystem, has moved ahead of Dogecoin by market capitalization and is now listed among the top 10 cryptocurrencies. The shift follows sustained gains in HYPE alongside comparatively softer performance in DOGE. The article highlights Hyperliquid's on-chain perpetuals focus and Bitwise's BHYP spot Hyperliquid ETF as key narratives being watched as the ranking battle evolves.

Dogecoin (DOGE) has remained in a downtrend alongside broader weakness in meme coins, with sentiment depressed for months. In a May 27 post, analyst Cryptollica said DOGE’s recurring cycle structure looks “too dangerous to ignore,” arguing similar periods of disinterest previously preceded sharp expansions. He highlighted readings including a Crypto Cycle Score of 19.9, Mayer Multiple at 0.64, and an attention score of 10.1 as signs the asset may be rebuilding.

South Korean prosecutors have charged five people tied to the Solana meme coin project CatFi, alleging a coordinated rugpull after the token attracted investor funds. Investigators say CatFi was launched in early 2025 via Pump.fun and later saw an about 1,001x price jump within 26 hours as roughly 6,000 investors bought in. Prosecutors said 256 investors reported about 900 million won in losses and suspects allegedly made over 400 million won, with arrests including two suspects on May 11 and three more later on Wednesday.

Memecore (M) rose 231.4% across March and April, then slid from $4.83 on Friday, 24 April to the $2.60 demand zone in the first week of May. A month-long descending triangle and repeated $2.60 retests point to fading momentum, while $2.56 marks the 78.6% Fibonacci retracement. Key levels highlighted include $1.95 (trend shift risk), $2.59 (bearish continuation toward $2.06), and $3.2 (potential rejection zone).

South Korea's Seoul Southern District Prosecutors' Office arrested and indicted suspects tied to the Solana-based memecoin CATFI, in what is described as the first DEX rug-pull prosecution under the Virtual Asset User Protection Act that took effect in July 2024. Authorities said the token jumped 1,001-fold in 26 hours before collapsing, and 256 investors reported losses of about 900 million won (~$586,000).

Shiba Inu (SHIB) fell about 2% over the last 24 hours as Futures traders cut leverage while Spot participants accumulated. On May 25, CoinGlass data showed SHIB Futures inflows at $3.82 million versus $4.25 million in outflows, leaving net flow at -$430K alongside a funding-rate flip to -0.0106%. Meanwhile, roughly 490 billion SHIB reportedly left exchanges, and the market focus has shifted to whether Spot demand can help price hold above $0.00000526.