Dogecoin edged lower to $0.123 while Shiba Inu slipped to $0.000007165, with both tokens failing to sustain rebounds during US hours as Bitcoin’s attempted rebound faded and ether remained heavy – a setup that kept meme coins pinned at technical levels rather than narrative catalysts.
News context
Meme coins continued to trade as high-beta proxies for broader risk appetite, while large-cap cryptocurrencies remained volatile through the end of the year. Bitcoin’s rebound attempts have not shown consistent follow through during U.S. trading hours, and this lack of momentum has kept speculative segments of the market under pressure.
Ether’s silent band also played a role. As ETH struggles to regain traction, flows have been tilted toward caution in higher-risk sectors, and meme tokens like DOGE and SHIB were among the first to sell off in force. Weak liquidity and position cleaning in late December have amplified moves around obvious technical levels, even when headlines are limited.
Technical analysis
DOGE remains in a tightening consolidation, but with a bearish bias after repeated failures above $0.1260 to $0.1264. This area now constitutes the most visible short-term supply, reinforced by high volumes of rejections, while the band from $0.1208 to $0.1220 constitutes the demand plateau that holds the structure together. An extended break below $0.122 risks a deeper fall towards $0.1280 then $0.1250, while a reset requires reclaiming $0.133 to reverse the near-term downtrend and force sellers to cover.
The structure of SHIB is weaker. Price broke the bottom of $0.00000717 at $0.00000718, confirming a descending channel bias and shifting attention towards $0.000007145 as the next support marker. If this level fails, the next pocket of real demand will be near $0.00000707, while rebounds will likely be capped at the $0.00000722 – $0.00000725 area unless volume returns sustainably.
The straight read is that DOGE is still trading at the bottom of its band, while SHIB has already lost a key level and is trading as if seeking the next floor. This divergence generally reflects sector-wide fragility rather than selective accumulation.
Price Action Summary
DOGE rose from $0.1258 to $0.1230 over 24 hours, with volume 11.5% higher than its seven-day average.
A high volume rejection near $0.1264 reinforced that sellers remain active on rebounds
Support remained active between $0.1208 and $0.1220, preventing the market from collapsing.
SHIB slipped to $0.000007165 after breaking through the $0.00000717 floor at $0.00000718
Selling accelerated during the decline from the $0.00000722-$0.00000725 resistance area towards the $0.00000707 support.
What Traders Need to Know
This is still a technical market and not a flagship market. DOGE is trading at clean levels, and $0.122 is the line that matters: hold it and the market can continue moving sideways; lose it and the decline opens quickly as stops trigger below the range. For DOGE, upside relief only begins if price can reclaim $0.1264, with $0.133 as the level that would actually change the bias.
SHIB is more vulnerable because the failure has already occurred. Bulls need to recover between $0.00000717 and $0.00000718 to neutralize the decline, otherwise $0.000007145 is the next “must hold”, and failure at this level will likely draw the price towards $0.00000707.
If bitcoin can’t handle the bounces and ether remains heavy, meme coins tend to continue bleeding — not in a single straight flush, but in repeated failed bounces that invite more selling. The trade is simple: see if DOGE holds $0.122 and if SHIB can find its broken bottom. These two levels will tell you if it’s a base build or another step down.
