Dogecoin and Shiba Inu stayed under pressure on Tuesday, with DOGE down 4% and SHIB off 2%. The decline picked up after both meme coins broke important support levels, leaving price action tilted to the downside.
DOGE loses the $0.10 level as traders watch $0.08
DOGE fell below the $0.10 psychological mark, a move that points to a clear technical breakdown. The Supertrend stands at $0.11958, keeping the bearish signal intact, while the Parabolic SAR at $0.10544 now acts as overhead resistance. Price has moved toward the lower edge of its channel, and selling pressure has increased with it.
Near-term horizontal support is seen around $0.08. If the current downside pressure continues, the next area in focus is $0.07. For any recovery to gain traction, DOGE would need to reclaim $0.10 and then push above the Supertrend zone near $0.12.
Derivatives data showed weaker activity as the price slid. Open interest fell 1.02% to $962.62 million, and options volume dropped 48.58%. On Binance, the long/short ratio was 2.1756, suggesting many traders had positioned for a rebound and are now caught on the wrong side of the move.
SHIB trades near the lower Bollinger Band with support under strain
SHIB changed hands near $0.00000552, close to the lower Bollinger Band, a sign of heavy selling pressure. Its Supertrend reading at $0.00000753 remains bearish, and the upper Bollinger Band at $0.00000837 shows how far price has fallen from recent higher levels.
A descending trendline continues to cap rallies, and previous support zones have already been broken. Immediate support sits in the $0.00000550 to $0.00000600 range. If that area gives way, SHIB may slide toward $0.00000500. Any recovery would require a move back above $0.00000700, followed by a break above the Supertrend level.
Burn activity offered only limited relief. Over the past 24 hours, SHIB burns rose 65.52%, with 2.5 million tokens removed from circulation. Even so, the circulating supply still stands at 585.45 trillion, which means the latest burn data offers some long-term support but does little to offset the current selling pressure.