DOGE and SHIB Stuck in Technical Squeeze—Dogs Looking Sideways as Risk Appetite Fades

The memecoin tape tells a familiar story this week: Dogecoin trading flat around $0.14 after a -0.72% dip over 24 hours, while Shiba Inu slides to $0.000007165, both acting like they’re waiting for bitcoin and ether to show some conviction. With $41.31M in daily DOGE volume running steady but uninspired, we’re looking at a textbook scenario where meme tokens are pinned to technical levels rather than riding any real narrative momentum.

The Setup: Range-Trading Into Year-End

Bitcoin’s bounce attempts keep fizzling during U.S. hours, and that lack of sustained upside has drained the oxygen from speculative sectors. Ether’s stuck in neutral too, so flows are defensive. When the big two can’t get traction, meme coins are typically the first to get flushed on any weakness—and that’s exactly what we’ve seen.

Thin liquidity into late December amplifies moves around key price levels. DOGE is in a tightening consolidation with a bearish lean after repeated failures near $0.1260–$0.1264. That zone is now the most visible near-term supply ceiling, marked by high-volume rejections. Below that, the $0.1208–$0.1220 band is the demand floor keeping things from falling apart.

SHIB’s structure looks weaker. After breaking through the $0.00000717–$0.00000718 support floor, price is now testing $0.000007145 as the next critical level. If that breaks, the next real demand pocket sits near $0.00000707. Rebounds are likely capped at $0.00000722–$0.00000725 unless volume suddenly picks up.

The big picture: DOGE is still range-trading at the bottom of its zone, while SHIB has already lost a key level and is hunting for the next floor. That divergence usually signals broader sector stress rather than selective accumulation—exactly the dog looking sideways scenario we’re seeing play out.

Price Action Breakdown

Dogecoin slipped from $0.1258 to $0.1230 over the last 24 hours, with trading volume running 11.5% above its seven-day average. A high-volume rejection near $0.1264 confirmed that sellers are still aggressive on any bounce. Support held near $0.1208–$0.1220, preventing a complete breakdown.

Shiba Inu accelerated lower after that floor break, sliding from the $0.00000722–$0.00000725 resistance zone all the way toward $0.00000707 support. The descending-channel bias is now locked in, and every bounce is being sold.

What Matters for Traders Right Now

This remains a technical market, not a headline-driven one. For DOGE, $0.122 is the line in the sand—hold it and the grind sideways continues; lose it and downside opens as stops get triggered below the range. Upside relief only starts if price reclaims $0.1264, with $0.133 as the level that would actually flip the bias negative-to-neutral.

SHIB is more fragile because the breakdown already confirmed. Bulls need to reclaim $0.00000717–$0.00000718 to neutralize the slide, otherwise $0.000007145 becomes the “must hold” level. If that fails, expect a slide toward $0.00000707.

Bottom line: If bitcoin and ether keep struggling to sustain bounces, meme coins will keep bleeding via repeated failed rallies that attract more selling. Watch whether DOGE holds $0.122 and whether SHIB can regain its broken floor—those two levels tell you if we’re base-building or just another leg down. The dog looking sideways narrative persists until one of these levels breaks decisively.