DOGE Reclaims Trendline While SHIB Tests Daily Downtrend Floor Amid Market Volatility
Dogecoin (DOGE) rose 3.0% to $0.1641 following a heavy-volume flush, with 613 million tokens traded, representing 186% above its average volume of 214 million. Earlier, the price tested a low of $0.1551 before breaking out above $0.1640 to form an ascending intraday trendline. The coin subsequently consolidated in the range of $0.1638 to $0.1643. Near-term, DOGE is considered bullish if it clears $0.1650, with major support at $0.1551 and new near-term support between $0.1638 and $0.1640. A break below $0.1620 could jeopardize this outlook, risking a drop to the $0.1600–$0.1580 area.
In contrast, Shiba Inu (SHIB) slipped 2.0% to $0.000009045 after breaking daily support at $0.000009240. Heavy selling at 08:00 GMT reached 412.35 billion tokens, 67% above average, followed by a V-shaped intraday recovery to $0.000009082 on 32.34 billion hourly volume. SHIB requires a close above $0.000009240 to stabilize; failure to hold above $0.000008975 could open a decline toward the mid-$0.00000870 level. Despite the intraday rebound viewed as constructive, SHIB's longer daily downtrend remains intact and fragile.
The broader market context sees a risk-off rotation driven by concerns over an AI-related bubble, $800 million outflows from Bitcoin ETFs, and tightening liquidity, which collectively weigh on meme-coin volatility. Trader behavior indicates institutional accumulation in DOGE after two weeks of whale positioning, whereas SHIB experienced elevated retail selling before intraday buyers emerged.
Overall, DOGE shows an intraday bullish rotation, while SHIB faces a tactical inflection point requiring confirmation before any trend reversal can be assumed. No major token-specific catalysts have been cited in the current market environment.
