DOGE Breaks Back Above Key Trendline as SHIB Slides Toward the Bottom of Its Daily Downtrend

Dogecoin and Shiba Inu endured another turbulent trading session as both assets were hit by sharp intraday swings. Dogecoin bounced forcefully from a heavy-volume selloff, while Shiba Inu briefly broke through critical support before launching a swift, aggressive reversal.

Sentiment across the crypto market remained fragile, pressured by fears of an AI-driven speculative bubble, nearly $800 million in Bitcoin ETF outflows, and continued liquidity stress across high-beta assets. With macro uncertainty rising, meme-coins were once again among the most sensitive to volatility shocks.

Despite sharing the same macro backdrop, large-holder behavior diverged between the two tokens. Dogecoin attracted renewed institutional interest following two weeks of consistent whale accumulation, while Shiba Inu faced a wave of retail-led selling before opportunistic buyers stepped in at the day’s lows. No token-specific catalysts were tied to the moves, though traders closely tracked ETF flows and whale positioning as primary sentiment indicators.

---

Dogecoin (DOGE) Price Action

DOGE advanced 3.0% to close at $0.1641, recovering from a sharp early decline that dragged the price down to $0.1551.

• Trading volume surged to 613M, roughly 186% above its average.
• A reclaim of the $0.1640 level established a fresh intraday uptrend.
• Price action later settled into a tight $0.1638–$0.1643 consolidation band.

The rebound created a clean series of higher lows, signaling strengthening momentum even as broader crypto sentiment remained weak.

---

Shiba Inu (SHIB) Price Action

SHIB slipped 2.0%, moving from $0.000009233 to $0.000009045, after decisively losing daily support at $0.000009240.

• A major 08:00 GMT selloff pushed volume to 412.35B tokens, about 67% above average.
• The token hit an intraday low of $0.000008975 before reversing violently.
• A V-shaped spike back toward $0.000009082 formed on 32.34B hourly volume.

Despite the broader downtrend, the recovery above $0.000009060 showed that near-term stability was returning.

---

Technical Overview

Dogecoin (DOGE)

Key Levels

• Major support: $0.1551
• Near-term support: $0.1638–$0.1640
• Resistance: $0.1650, then $0.1680

Volume Profile

• Large 613M spike points to institutional demand
• Steady recovery volume reinforces underlying strength

Market Structure

• Ascending trendline remains intact
• Higher-lows pattern confirms bullish rotation

---

Shiba Inu (SHIB)

Key Levels

• Important support: $0.000009020 (triple-tested)
• Resistance: $0.000009240, then $0.000009307

Volume Profile

• Breakdown volume surged 67% above norm
• Consistent elevated buying during rebound shows renewed interest

Market Structure

• Daily downtrend remains unbroken
• Hourly V-shaped reversal suggests short-term stabilization

---

What Traders Should Watch

DOGE and SHIB are presenting contrasting setups under the same macro pressures.

Dogecoin holds a constructive near-term bias. Clearing $0.1650 could unlock continuation, while losing $0.1620 would likely trigger a pullback toward the $0.1600–$0.1580 area. Whale accumulation between $0.155–$0.161 continues to support the bullish case.

Shiba Inu, however, remains at a critical turning point. A firm close above $0.000009240 is needed to confirm stabilization. Failure to hold $0.000008975 could expose the token to a deeper drop toward the mid-$0.00000870 zone. The intraday reversal is encouraging but not yet enough to offset the broader downtrend.

Overall, DOGE shows clearer intraday strength, while SHIB requires further confirmation before a trend reversal can be validated.

About The Author