Dogecoin fell to $0.123, while Shiba Inu fell to $0.000007165, and both tokens failed to sustain bounces during US time as bitcoin’s attempted bounce faded and ether remained heavy, a setup that kept meme coins pegged at technical levels rather than narrative catalysts.
News background
Meme coins continued to trade as high-beta substitutes for higher risk appetite as large-cap cryptocurrencies remained volatile through the end of the year. Bitcoin’s rebound attempts have not shown consistent tracking during US time, and that lack of momentum has kept speculative corners of the market under pressure.
Ether’s muted tape has also been important. As ETH struggles to regain traction, flows have tilted toward caution in riskier sectors, and meme tokens like DOGE and SHIB have been among the first to sell off strongly. Tight liquidity and position clearing through late December have amplified moves around obvious technical levels, even as headline news is limited.
Technical analysis
DOGE remains in tightening consolidation but with a bearish bias after repeated failures above $0.1260 – $0.1264. That zone is now the most visible short-term supply, bolstered by high-volume rejections, while the $0.1208 to $0.1220 band is the demand platform holding the structure together. A sustained break below $0.122 risks a deeper drop towards $0.1280 and then $0.1250, while a reset requires reclaiming $0.133 to undo the short-term downtrend and force sellers to cover.
SHIB’s structure is weaker. The price slid through the floor of $0.00000717 to $0.00000718, confirming a descending channel bias and shifting focus to $0.000007145 as the next support marker. If that level fails, the next pocket of real demand will be near $0.00000707, while bounces will likely be limited to the $0.00000722 to $0.00000725 zone unless volume returns on a sustained basis.
The direct reading is that DOGE is still trading in the lower range of its band, while SHIB has already lost a key level and is trading as if it is looking for the next bottom. That divergence usually indicates sector-wide fragility rather than selective accumulation.
Price Action Summary
DOGE fell from $0.1258 to $0.1230 in 24 hours, with volume 11.5% above its seven-day average
A high volume rejection near $0.1264 reinforced that sellers remain active on bounces.
Support remained active between $0.1208 and $0.1220, preventing the market from unraveling
SHIB fell to $0.000007165 after breaking the floor 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 headline market. DOGE is trading at clean levels, and $0.122 is the line that matters: hold it and the market can continue moving sideways; miss it and the drop opens quickly when stops trigger below the range. For DOGE, upside relief begins only if the price can recover $0.1264, with $0.133 being the level that would truly change the bias.
SHIB is more vulnerable because the failure has already occurred. The bulls need to recover between $0.00000717 and $0.00000718 to neutralize the decline; Otherwise, $0.000007145 is the next “must hold,” and a failure there will likely push the price closer to $0.00000707.
If bitcoin cannot sustain bounces and ether remains heavy, meme coins tend to continue bleeding, not in a straight flush, but in repeated failed bounces that invite more selling. The trade is simple: see if DOGE has $0.122 and if SHIB can recover its broken bottom. Those two levels will tell you if this is base building or another leg down.
