coindesk.com
Dogecoin and Shiba Inu moved lower in tandem Tuesday, extending a period of underperformance for meme coins as rising volume and tightening chart structures outweighed signs of accumulation by larger holders.
News background
- Meme coins remained under pressure as traders continued to rotate away from higher-beta exposures, even as broader crypto markets showed selective stabilization.
- Assets such as ether ETH$2,871.93 held comparatively firm, while speculative tokens like DOGE and SHIB continued to lag, reinforcing a widening performance gap inside the market.
- The divergence comes despite incremental improvements in market structure for Shiba Inu.
- Coinbase recently launched regulated SHIB futures contracts tied to its 1,000-token index, expanding compliant derivatives access in the U.S.
- While the development strengthens SHIB’s longer-term institutional framework, near-term price action across meme coins has remained dominated by technical factors rather than regulatory milestones.
Technical analysis
- Dogecoin fell 3.3% from $0.1302 to $0.1262, extending a sequence of lower highs and remaining capped beneath a descending trendline. Trading volume rose more than 50% above the seven-day average, pointing to active repositioning rather than thin-liquidity drift.
- The structure shows a descending triangle compressing around the $0.13 psychological zone. Repeated failures to reclaim $0.1265–$0.1270 have flipped former support into resistance, while heavier supply remains visible near $0.1360 following a high-volume rejection earlier this month.
- Shiba Inu displayed a similar profile. SHIB tracked DOGE lower during U.S. hours, failing to reclaim short-term resistance after slipping below its own consolidation floor.
- Volume picked up during declines, suggesting sector-wide distribution rather than isolated selling in a single token.
Price action summary
- DOGE traded within a narrow $0.004 range, briefly stabilizing near $0.1258 before settling around $0.1262. Bounce attempts were short-lived, with sellers re-emerging quickly above $0.13.
- SHIB showed comparable behavior, stabilizing after intraday weakness but failing to generate meaningful upside follow-through.
- The synchronized price action reinforces the view that meme coins are currently trading as a single risk bucket rather than on token-specific catalysts.
What traders should know
• DOGE and SHIB continue to underperform the broader market and assets like ETH, signaling ongoing de-risking in speculative corners of crypto.
• DOGE must reclaim $0.13 on sustained volume to neutralize the bearish structure. SHIB likewise needs to regain prior consolidation levels to shift momentum.
• Whale accumulation in DOGE contrasts with weak price action, suggesting longer-term interest but little short-term conviction. Until broken levels are reclaimed, rallies are likely to face selling pressure.