Dogecoin dropped to $0.123, while Shiba Inu slid to $0.000007165, with both tokens failing to sustain gains after bounce attempts. Market moves remained tied to technical levels, as attempts by Bitcoin and Ethereum to rally lacked lasting momentum, increasing pressure on meme coins.
Current State of the Meme Coin Market
Meme coins are trading with heightened volatility and continue to respond more to overall crypto market sentiment than to individual news events. Low liquidity during the holiday period and position clearing amplify moves around obvious technical levels, causing even small-volume trades to impact prices.
This was evident in repeated bounces and failed rallies: DOGE repeatedly failed to hold above the $0.1260–$0.1264 zone, while SHIB broke its floor and began searching for the next support level. Additional context on DOGE’s price movement can be found in the article on the drop below $0.13, which discusses similar scenarios for the coin.
Dogecoin Technical Analysis
DOGE is in a tightening consolidation with a clear bearish bias after repeated failures above $0.1260–$0.1264. This zone acts as the nearest resistance, reinforced by high-volume bounces, while the $0.1208–$0.1220 range serves as the current demand area supporting the structure.
The key level to watch is $0.122: holding this level could lead to continued sideways trading, while losing it would open the path to a deeper correction. For a more detailed breakdown of technical signals, see the DOGE technical analysis article.
Shiba Inu Technical Analysis
SHIB’s structure appears weaker: the price broke the floor at $0.00000717–$0.00000718, confirming a descending channel and shifting focus to the next support level around $0.000007145. If that level fails, a more distant demand zone near $0.00000707 is considered.
Bounces in SHIB are generally limited in volume, with resistance situationally concentrated around $0.00000722–$0.00000725. In conditions of weak volume, upward movement is likely to remain constrained until a stable liquidity inflow emerges.
Trader Recommendations
This is primarily a technical market: for DOGE and SHIB, specific levels are crucial — holding or losing them will determine future scenarios. Monitor price reactions near key zones and volume changes, as signals can be false during low liquidity.
Why This Matters
If you mine and hold meme coin positions, current price behavior suggests that rapid and large sales can significantly impact realized prices due to a thin market. Additionally, meme coins’ dependence on Bitcoin and Ethereum movements means that lack of sustained recovery in major assets often adds risk to speculative coins.
What to Do?
- Watch the $0.122 level for DOGE and $0.00000717–$0.00000718 for SHIB — these lines will indicate whether the market is stabilizing or starting a new downward impulse.
- Avoid large market sales during low liquidity periods: split trades and use limit orders to prevent unfavorable price slippage.
- Monitor trading volume: volume increases confirm moves, while weak volume makes breakouts unreliable.
- Keep in mind Bitcoin and Ethereum’s influence: if BTC and ETH fail to hold bounces, meme coins are more likely to break support.
Frequently Asked Questions
Should I take profits now? The decision depends on your goals and time horizon; in low liquidity, taking large profits at once is risky, so it’s wiser to use limit orders and partial take-profits.
Should I change my mining operations strategy due to this news? Current meme coin price moves do not directly affect mining processes but may impact coin prices upon selling mined assets; plan your sales considering market liquidity.