Dogecoin fell to $0.123, while Shiba Inu fell to $0.000007165, with both tokens unable to sustain rebounds during US hours as bitcoin’s attempts to bounce faded and ether remained heavy — a setup that kept meme coins stuck on technical levels rather than narrative catalysts.
News background
Meme coins continued to trade as high-beta proxies for broader risk appetite as large-cap cryptos remained choppy through the end of the year. Bitcoin’s rebound attempts have not shown consistent follow-through in US hours, and the lack of momentum has kept speculative corners of the market under pressure.
Ether’s muted band has also been important. With ETH struggling to regain traction, flows have leaned toward caution in higher-risk sectors, and meme tokens like DOGE and SHIB have been among the first to sell on strength. Thin liquidity and position cleanup in late December has reinforced moves around obvious technical levels, even when headlines are limited.
Technical analysis
DOGE remains in a tighter consolidation but with a bearish bias after repeated failures above $0.1260-$0.1264. This zone is now the most visible near-term supply, reinforced by rejections in large volumes, while the $0.1208-$0.1220 band is the demand shelf holding the structure together. A sustained break below $0.122 risks a deeper slide towards $0.1280 and then $0.1250, while a reset calls for regaining $0.133 to unwind the short-term downtrend and force sellers to cover.
SHIB’s structure is weaker. The price slipped through the $0.00000717–$0.00000718 floor, confirming a bearish channel bias and shifting focus to $0.000007145 as the next support marker. If this level fails, the next real demand pocket is near $0.00000707, while rebounds are likely to be limited in the $0.00000722-$0.00000725 zone unless volume returns in a sustained manner.
The direct reading 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 it is searching for the next floor. This divergence usually signals sector-wide fragility rather than selective accumulation.
Price action overview
DOGE fell from $0.1258 to $0.1230 in 24 hours, with volume running 11.5% above its seven-day average
A rejection in high volume near $0.1264 reinforced that sellers remain active on rebounds
Support remained active near $0.1208-$0.1220, preventing the market from unraveling
SHIB fell to $0.000007165 after breaking the bottom of $0.00000717–$0.00000718
Selling accelerated during the decline from the $0.00000722-$0.00000725 resistance zone towards the $0.00000707 support
What traders should know
This is still a technical market, not a main market. DOGE is trading out of clean levels and $0.122 is the line that matters: hold it and the market may continue to grind sideways; lose it and the downside opens quickly as stops are triggered below the range. For DOGE, upside relief will only start if price can regain $0.1264, with $0.133 as the level that would actually change the bias.
SHIB is more vulnerable because the collapse has already happened. Bulls need to recover $0.00000717-$0.00000718 to neutralize the slide, otherwise $0.000007145 is the next “must hold” and failure there is likely to pull the price towards $0.00000707.
If bitcoin can’t sustain rebounds and ether remains heavy, meme coins tend to keep bleeding — not in a straight flush, but in repeated failed rejections that invite more selling. The trade is simple: see if DOGE has $0.122 and if SHIB can recover its broken floor. These two levels will tell you if this is base-building or another leg down.
