Dogecoin and Shiba Inu moved lower in tandem on Tuesday, extending a period of underperformance for meme coins, as rising volume and tight chart structures offset signs of accumulating major 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.
- Actives such as ether held relatively steady, while speculative tokens such as DOGE and SHIB continued to lag, reinforcing a growing performance gap in the market.
- The deviation comes despite incremental improvements in the Shiba Inu market structure.
- Coinbase recently launched regulated SHIB futures contracts linked to its 1,000-token index, expanding access to compatible derivatives in the US
- While the development strengthens SHIB’s long-term institutional framework, short-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 below a descending trendline. Trading volume rose more than 50% above the seven-day average, suggesting active repositioning rather than thin liquidity operations.
- The structure shows a descending triangle compressing around the $0.13 psychological zone. Repeated failures to regain $0.1265-$0.1270 have turned previous support into resistance, while heavier supply remains visible near $0.1360 after a big rejection earlier this month.
- Shiba Inu showed a similar profile. SHIB tracked DOGE lower in US hours, failing to regain short-term resistance after slipping below its own consolidation floor.
- Volume increased during declines, suggesting sector-wide distribution rather than isolated sales in a single token.
Price action overview
- DOGE traded within a tight $0.004 range, briefly stabilizing near $0.1258 before settling around $0.1262. Rejection attempts were short-lived and sellers quickly re-emerged above $0.13.
- SHIB showed comparable behavior, stabilizing after intraday weakness but failing to generate meaningful upward 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 risk-off in speculative corners of crypto.
• DOGE needs to reclaim $0.13 on sustained volume to neutralize the bearish structure. SHIB likewise needs to regain previous consolidation levels to shift momentum.
• Whale accumulation in DOGE contrasts with weak price action, suggesting long-term interest but little short-term conviction. Until broken levels are recovered, rallies are likely to face selling pressure.
