Open interest in Dogecoin and Shiba Inu futures has plunged significantly amid a broader trend across the meme coin sector.

Shiba Inu faces a 10-week downtrend, with adoption at a 4-year low. A breach of key resistance could spark a potential rally.

Shiba Inu (CRYPTO: SHIB) soared by 45,278,000% during 2021, which means had you bought it on Jan. 1 and sold it on Dec. 31, an investment of as little as $3 could have made you a millionaire.

The Shiba Inu (CRYPTO: SHIB) cryptocurrency opened at a price of $0.00000000008 per token in 2021 before soaring by a whopping 107,499,900% to a peak of $0.000086 in October of that year.