Dogecoin fell to $0.123 while Shiba Inu dropped to $0.000007165, as both tokens struggled to maintain recoveries during U.S. hours, with Bitcoin’s attempted bounce losing steam and Ether remaining sluggish — a situation keeping meme coins anchored to technical levels instead of narrative drivers.
News background
Meme coins continued to behave as high-beta indicators of broader risk appetite while large-cap crypto showed volatility as the year comes to a close. Bitcoin’s rebound efforts have lacked consistent follow-through during U.S. hours, which has kept speculative parts of the market under pressure.
Ether’s dull performance has also had an impact. With ETH having trouble gaining momentum, investor flows have turned cautious in higher-risk areas, leading to meme tokens like DOGE and SHIB being among the first to get sold during rallies. Limited liquidity and position adjustments as December wraps up have intensified movements around clear technical levels, even when news headlines are sparse.
Technical analysis
DOGE is in a tightening consolidation phase but leans bearish after repeated failures above $0.1260–$0.1264. This range is now the most visible short-term supply, strengthened by high-volume rejections, while the $0.1208–$0.1220 range serves as the demand zone supporting the market structure. A sustained drop below $0.122 risks a deeper decline toward $0.1280 followed by $0.1250, while a recovery necessitates reclaiming $0.133 to reverse the short-term downtrend and prompt sellers to cover.
SHIB’s market structure is weaker. The price fell through the $0.00000717–$0.00000718 support, confirming a descending channel trend and directing attention to $0.000007145 as the next support level. If that fails, the next notable demand zone is near $0.00000707, while any rebounds are likely to be restricted to the $0.00000722–$0.00000725 area unless trading volume returns consistently.
The straightforward interpretation is that DOGE remains range-bound at the lower edge of its band, while SHIB has already breached a critical support level and appears to be searching for the next floor. This divergence often signals fragility across the sector rather than selective accumulation.
Price action summary
DOGE declined from $0.1258 to $0.1230 over the past 24 hours, with trading volume 11.5% above its seven-day average
A notable high-volume rejection near $0.1264 confirmed that sellers are active during rallies
Support remained firm around $0.1208–$0.1220, preventing a market collapse
SHIB decreased to $0.000007165 after breaching the $0.00000717–$0.00000718 floor
Selling intensified during the decline from the $0.00000722–$0.00000725 resistance zone down to the $0.00000707 support
What traders should know
This is predominantly a technical market rather than a headline-driven one. DOGE is trading based on clean levels, with $0.122 being crucial: if it holds, the market can continue sideways; if it breaks, a rapid downside may occur as stops get triggered below the range. For DOGE, a bullish reversal starts only if the price can recover $0.1264, with $0.133 representing a level that would truly shift the bias.
SHIB is more exposed due to the recent breakdown. Bulls need to reclaim the $0.00000717–$0.00000718 levels to counter the downturn; failing that, $0.000007145 is the next critical support, and failure there could drive the price toward $0.00000707.
If Bitcoin cannot maintain rebounds and Ether stays weak, meme coins are likely to continue to decline — not in one sudden drop, but through repeated failed bounces that invite more selling. The trading strategy is clear: monitor whether DOGE can hold $0.122 and whether SHIB can regain its lost floor. Those two levels will dictate whether this is a phase of base building or another downward move.
