Recently, the cryptocurrency market has experienced significant volatility. DOGE faced severe setbacks at the beginning of August, with a nearly 5% fall within 24 hours, continuing a downward trend of 12% over the past week. Large-scale sell-offs led to DOGE's price falling below the important support level of $0.205, with daily volume surging to nearly 878 million coins, reflecting a substantial outflow of institutional funds and a noticeable increase in market risk-averse sentiment.

Historical data shows that August is usually not very friendly to DOGE, with the average monthly returns being negative for three consecutive years. This market situation is no exception. Market analysts warn that if DOGE cannot quickly rebound to critical price levels, it may further drop to $0.185. As pessimism spreads, investors' attention is starting to shift towards other popular meme coins, such as XRP and SHIBA INU, which also show a certain degree of vulnerability.

At the same time, Ripple's flagship token XRP is also facing challenges. Despite benefiting from the gradual clarification of the regulatory environment, XRP maintains its leading position in 2025, but recent price trends reveal that potential risks are accumulating. After rebounding from a low of $2.80, XRP encountered resistance again near $3.09, with support located below $2.91. Market observers point out that the presence of a large number of short positions, as well as the frequent transfer of whale funds exceeding $50 million, is exacerbating XRP's price volatility.

Market prediction models show that XRP may fluctuate between $2.94 and $3.39 in August. However, some optimistic investors are betting that if the overall market environment improves, XRP could break through the $4.45 level. Nevertheless, unless the volume significantly increases and institutional investment sentiment shows clear improvement, XRP's upside potential may still be limited.

Overall, the current cryptocurrency market is at a critical crossroads. Investors need to closely monitor market trends, weigh risks and opportunities, and make informed investment decisions.