Crypto: Dogecoin And Shiba Inu Drop As Bearish Signals Flash Red

So-called “meme” cryptos never promised the moon, but they managed, for a time, to make us believe it. Today, Dogecoin and Shiba Inu are stumbling, exhausted by their own speculative madness. And while the jokes are growing old, the charts no longer laugh. The time has come to ask: is the market turning the page on these cryptos? Or is this just a dip in an increasingly hard-to-follow cycle?

Dogecoin and Shiba Inu: tired dogs biting the dust

In crypto, charts always tell a story. And in recent days, they tell a downturn, perfectly illustrating the principles of chartism, where every price movement reflects a market signal.

Dogecoin (DOGE) and Shiba Inu (SHIB) have fallen about 5%, settling respectively around $0.172 and $0.000012. No apparent panic, but technical signals are sounding the alarm.

Their funding rates are in the red: -0.0012% for DOGE, -0.0055% for SHIB. In other words, bettors are betting on the drop. And when the market pushes into the void, few cryptos know how to fly.

Add to this an on-chain activity in decline: Dogecoin’s daily active addresses are slowly collapsing, suggesting that enthusiasm is fading.

Users are deserting, transactions becoming scarce. We are no longer talking about a rise, but rather a controlled crash.

Meanwhile, SHIB holders are withdrawing their cryptos from cold wallets, sending them to exchanges, ready to sell. The Age Consumed index from Santiment, often underestimated, proves it: when dormant cryptos wake up, it’s rarely to dance.

And then there is market sentiment, intangible but brutal. These coins, designed for humor, seem to no longer make anyone laugh. Their charm, long supported by Elon Musk and a passionate community, is wearing away. The trend passes. Money never jokes.

Technical indicators flashing red

Technical indicators are just as unforgiving. For DOGE, the level of $0.181 acts as a glass ceiling.

The 50-day exponential moving average blocks any upward attempts. Under this pressure, the price is gradually heading towards its support at $0.157.

The RSI, the much-watched relative strength index, dances on the neutral line. If it dips below, the downward spiral could intensify. The same goes for the MACD, ready to trigger a bearish crossover. This is the kind of signal in the stock market that often scares off the latecomers.

Shiba Inu is no better off. Its chart has been trapped in a downward trend for months.

Rejected around $0.000014, SHIB has dropped 11% and lingers below its 100-day moving average. The RSI shows 48. The MACD has already flipped. It doesn’t predict a storm, but a fine, persistent rain that wears on investors’ nerves.

Those hoping for a comeback will have to wait longer or lower their ambitions. But beware of burying these assets too quickly. The world of crypto loves turnarounds. A tweet from Elon, a trade war, a viral buzz, and everything can start up again. That is their strength… and their weakness.