Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) remain hit by persistent outflows and weak bounces, suggesting that panic selling could accelerate if critical support fails.
DOGE’s Dangerous Position
Dogecoin trades at the lower Bollinger Band around $0.08727, indicating oversold conditions, but in strong downtrends price can remain pinned to this level for extended periods.
The Supertrend at $0.12154 sits firmly in bearish mode well above current prices.
DOGE saw roughly $9.5 million in negative spot netflows as of December 9th, pointing to steady distribution pressure.
Critical support sits at $0.08727-$0.09. If this floor fails, next meaningful support appears around $0.08 or lower.
A breakdown below $0.08727 triggers panic selling toward $0.07-$0.08, or potentially $0.06 at the bottom of the descending channel.
Any bounce faces immediate resistance at $0.10, followed by $0.11137 at the middle Bollinger Band and $0.12154 at the Supertrend.
DOGE needs to break above $0.12-$0.13 to signal potential reversal.
SHIB’s Breakdown Risk
Shiba Inu is consolidating just above the recent panic low around $0.00000589.
All EMAs sit above price: 20 EMA at $0.00000691, 50 EMA at $0.00000754, 100 EMA at $0.00000832, and 200 EMA at $0.00000975.
Despite token burns accelerating, SHIB’s price remains weak.
The burn rate jumped 36.43% with about 1.53 million tokens burned in 24 hours, but the uptick reflects irregular wallet-driven burns rather than sustained acceleration, limiting immediate price impact.
The $0.000006 psychological level is critical. If SHIB breaks decisively below this and the recent low at $0.00000589, minimal support exists until $0.000005 or even $0.000004.
The lack of support structure below current prices makes this breakdown scenario particularly dangerous.
The RSI at 35.95 shows weak momentum but not extreme oversold. The minimal 1% bounce suggests dead cat bounce behavior rather than genuine reversal.
Image: Shutterstock
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