- DOGE and SHIB under pressure: Both meme coins dropped nearly 5% last week and are now trading near $0.172 (DOGE) and $0.000012 (SHIB), with negative funding rates suggesting bearish sentiment is rising.
- On-chain signals bearish: Dogecoin’s daily active addresses are falling, and Shiba Inu’s “Age Consumed” spike hints that older tokens are moving—usually a sign of upcoming sell pressure.
- More downside likely: Both coins are facing tough resistance levels. DOGE may retest $0.157, and SHIB could drop to $0.000011 if they don’t break above key levels soon. Momentum indicators like RSI and MACD also point to potential further declines.
Dogecoin and Shiba Inu aren’t off to a great start this week. Both meme coins saw about a 5% drop last week, and now they’re kinda stuck—DOGE’s hanging around $0.172 and SHIB’s at $0.000012. And judging by the negative funding rates, it seems more traders are leaning bearish right now.
Traders Lean Short, Network Activity Slows
According to Coinglass, DOGE’s OI-weighted funding rate is sitting at -0.0012%, and SHIB’s at -0.0055%. Basically, that means more folks are betting prices will fall. Short traders are paying the longs, and that usually points to negative sentiment.
Dogecoin’s Daily Active Addresses have also taken a hit. The metric’s been dropping since mid-March, now down to around 53,000. Lower address activity = lower blockchain demand. Not exactly bullish.
And then there’s SHIB. Its “Age Consumed” metric just spiked, which tends to happen when dormant tokens start moving again—often a sign that folks are about to sell. So, yeah, more selling pressure might be on the way.
Price Outlook: More Red Ahead?
DOGE is butting heads with resistance near $0.181. It’s been there since late April and just can’t seem to break past it. If it gets rejected again, price could fall back to the $0.157 zone. RSI is hovering around neutral at 50, showing traders are kinda undecided. If it drops below that, bearish vibes will likely take over. Also, MACD’s flirting with a bearish crossover, so… not a great combo.
As for SHIB, it just got rejected near the $0.000014 area, right where the 100-day EMA is lurking. If this pullback continues, it might dip to $0.000011. RSI is sitting below 50, and MACD already flipped bearish, signaling more downside.
Of course, if DOGE or SHIB can break past their resistance zones—$0.181 for DOGE and $0.000014 for SHIB—there’s still hope for a short-term rally. But right now? The bears have the edge.
