**Dogecoin & Shiba Inu Hit Hard by Sell-Off — Correction Accelerates, Bulls Step Back**
📉 **Market Snapshot & Resistance Rejections**
* **\$DOGE** faced a sharp rejection at the **\$0.21 daily resistance**, sparking a renewed decline.
* **\$SHIB** fell below **\$0.0000119**, reflecting fading bullish momentum.
* Both memecoins are experiencing deepening corrections, with technical breakdowns reinforcing the bearish outlook.
📊 **Derivatives Paint a Bearish Picture**
* **CoinGlass Long/Short Ratios (Wednesday):**
* DOGE: **0.86**
* SHIB: **0.82**
→ These are the lowest levels in the past month, showing a clear bearish tilt.
* **Funding Rates (Wednesday):**
* DOGE: **0.0005%**
* SHIB: **0.0001%**
→ Both nearing negative territory — traders are paying to maintain short positions.
📉 **DOGE Price Outlook: Trendline Breakdown**
* ❌ Closed below the 50-day EMA at **\$0.20**
* 🔻 Broke the ascending trendline from **June 22**
* 🔄 Failed to reclaim the trendline this week, continuing its slide
**Key Support Levels:**
* 🧱 Support 1: **\$0.18**
* 🧱 Support 2: **\$0.15** (July 1 low)
**Bullish Scenario:** A rebound toward **\$0.24** requires a strong reversal.
🐕 **SHIB Price Outlook: Bears in Full Control**
* 💥 Down **10% in four days** after dropping below the 50-day EMA
* 📉 Continues to post **lower highs and lower lows**
**Key Support Levels:**
* 🧱 Support 1: **\$0.0000111**
* 🧱 Support 2: **\$0.0000100** (June 22 low)
**Bullish Reversal Level:** **\$0.0000136**
🔍 **Conclusion: Bearish Momentum Intensifies**
Memecoins are seeing rising short interest and declining bullish pressure.
Breakdowns of key trendlines and EMA rejections suggest the correction isn’t over.
Only a reclaim of major resistance levels will allow bulls to regain control.
\#Dogecoin #SHIB \$DOGE \$SHIB
