📉 DOGECOIN & SHIBA INU BREAK DOWN – BEARS IN CHARGE AS CORRECTION DEEPENS
🚫 Resistance Rejected – Momentum Cracks
DOGE was sharply rejected at the $0.21 resistance, triggering a sell-off that pushed the price below the 50-day EMA and an ascending trendline from June 22. SHIB followed suit, slipping under $0.0000119 and extending its downtrend with lower highs and lower lows.
📊 Bearish Derivatives Data Paints a Grim Picture
According to CoinGlass (Wednesday):
• $DOGE Long/Short Ratio: 0.86
• $SHIB Long/Short Ratio: 0.82
➡️ Both at 1-month lows — traders clearly leaning short.
Funding Rates:
• DOGE: 0.0005%
• SHIB: 0.0001%
➡️ Nearly negative — short positions dominating.
🔻 DOGE Forecast: Trendline Lost, Eyes on $0.18
• Broke key trendline + closed below 50-day EMA
• Immediate supports: $0.18, then $0.15
• Bullish scenario only if reclaimed: $0.24
🔻 SHIB Forecast: Full Bear Control
• Down 10% in 4 days since EMA break
• Support levels: $0.0000111, then $0.0000100
• Bulls need a breakout above: $0.0000136
📌 Final Word: Bearish Momentum Mounts
Memecoins are under intense pressure with no relief in sight. Unless DOGE and SHIB reclaim lost levels, the downtrend is likely to continue.
