Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) both are hovering near critical support levels after 58-60% declines from highs as descending channels trap price and money flow turns deeply negative.
DOGE Tests $0.09 Floor
Dogecoin dropped roughly 60% over five months from $0.23 in October 2025 to current levels.
A descending channel has guided price lower since October, with every bounce sold and every rally failing at the upper boundary.
The Supertrend indicator at $0.109 flashes red. When all moving averages sit above price and slope down, sellers control every timeframe.
Volume dried up 25.5% to $2.86 billion. Lower volume during a downtrend signals fewer buyers stepping in rather than easing selling pressure.
Open interest dropped 2.2% to $1.13 billion while options OI jumped nearly 19%, suggesting traders hedge through options rather than taking directional futures bets.
SHIB Trapped In Eight-Month Channel
Shiba Inu fell roughly 58% from August 2025 highs near $0.000014.
Price has been trapped inside a descending channel for eight months straight, with every rally sold and every bounce failing at the channel’s upper boundary.
Chaikin Money Flow sits at -0.20, a deeply negative reading confirming money is actively leaving SHIB.
The Parabolic SAR recently flipped bullish short-term, but within a downtrend this strong, these flips have repeatedly been fakeouts over recent months.
The burn rate dropped 9.68% in the last 24 hours, with only 5.59 million SHIB burned, roughly $33 worth.
That’s economically meaningless on a $3.5 billion market cap asset. While 41% of original supply has been burned, recent burn transactions are mostly tiny with no whale-level participation.
Staking participation sits at just 0.64% of circulating supply, suggesting low conviction among holders.
The Critical Levels
For DOGE, the $0.09 level is the line in the sand. It acted as support in early February and late February.
Breaking below targets $0.07 or lower. Reclaiming the $0.103-$0.110 zone would be needed to argue trend is shifting.
For SHIB, $0.000005 is the critical floor. Breaking below leaves no obvious support. On the upside, $0.000007 needs reclaiming before bulls can make a case.
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