Ex‑Ripple CTO on XRP’s slump; SHIB futures spike 666%; DOGE briefly breaks $0.10

Published: 2026-03-06 21:25:03 |

Former Ripple CTO David Schwartz said on X that the broader crypto market — not XRP alone — makes him feel down amid ongoing sell-offs. Market data show sustained pressure on altcoins since an October liquidation event; CryptoQuant reports 38% of altcoins are near all‑time lows. Shiba Inu (SHIB) saw an extreme, short‑term jump in futures flows (~666%), signalling a sudden surge in speculative positioning though the figure is partly symbolic. SHIB trades near $0.0000056 and remains below major moving averages, indicating a continued bearish structure. Dogecoin (DOGE) briefly rose above the psychological $0.10 level—removing a leading zero for about eight hours—on increased volume, then fell back to around $0.096 after sellers reclaimed control. Overall, the stories point to heightened short‑term volatility and speculative derivatives activity amid a broader altcoin downtrend.

Neutral

The article reports sentiment from a notable industry figure (ex‑Ripple CTO) and two short‑term market events: a large symbolic spike in SHIB futures flows and a temporary DOGE break above $0.10. None of these items present clear, sustained catalysts likely to drive a long‑term bull or bear market shift. Schwartz’s comment signals caution but is anecdotal. The 666% SHIB futures spike indicates heightened speculative interest and short‑term volatility rather than durable demand; such spikes can precede quick reversals or liquidations. DOGE’s brief move above $0.10, followed by a rapid rejection, underscores persistent resistance and seller dominance. Combined with data showing many altcoins near lows and ongoing sell pressure since the October liquidations, the net effect is continued risk and sideways to down pressure for altcoins, but not an outright bearish avalanche or a bullish reversal. Traders should expect short‑term volatility around these tokens (opportunities for quick scalps or risk of squeezes) while macro indicators and on‑chain flows will determine longer trends.