🔥 Memecoin Meltdown Dogecoin & Shiba Inu Under Fire as Bears Take Charge

Dogecoin ($DOGE ) and Shiba Inu ($SHIB) are facing intense selling pressure, deepening the current correction and pushing bulls to the sidelines.

Key Market Breakdown:

DOGE was rejected at the $0.21 resistance level, triggering a fresh slide.

SHIB broke below $0.0000119, signaling declining bullish momentum.

Both are in technical breakdowns, strengthening the bearish narrative.

💥 Derivatives Flash Warning Signs:

CoinGlass Long/Short Ratios (Wed):

DOGE: 0.86

SHIB: 0.82 — lowest levels in a month

Funding Rates:

DOGE: 0.0005%

SHIB: 0.0001% — approaching negative territory, meaning traders are paying to short.

📉 DOGE Technical Outlook:

Closed below the 50-day EMA ($0.20)

Broke the ascending trendline from June 22

Support Levels: $0.18 → $0.15

Bullish Reversal Target: $0.24

📉 SHIB Technical Outlook:

Down 10% in four days after 50-day EMA breakdown

Continues printing lower highs and lower lows

Support Levels: $0.0000111 → $0.0000100

Bullish Reversal Target: $0.0000136

🔍 Final Take: Memecoins are under bearish siege — with trendline breaks, weak momentum, and rising short positions dominating the scene. Until key resistance levels are reclaimed, the path of least resistance remains down.

#Dogecoin #SHIB #CryptoTrends #MemecoinMarket #AltcoinUpdate