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Dogecoin down 3.3% to $0.1262 and Shiba Inu falls alongside, both underperforming Bitcoin despite whale buying and new SHIB futures.
Dogecoin dropped 3.3% to $0.1262, while Shiba Inu slipped in tandem on Tuesday, extending a period where meme coins lag the broader crypto market and highlighting renewed selling pressure despite recent whale accumulation and new regulated SHIB futures contracts【1】.
| At a glance | |
|---|---|
| DOGE price | $0.1262 |
| 24h change | –3.3% |
| Key level | $0.13 resistance |
| Catalyst | Technical sell pressure; whale accumulation vs. price decline【1】 |
| SHIB price | ~ $0.0000105 (near $0.1258‑$0.1262 range) |
| 24h change | Similar decline to DOGE |
| Key level | $0.13‑$0.1270 resistance zone |
| Catalyst | Same technical structure; new SHIB futures launch【1】 |
Dogecoin’s price fell from $0.1302 to $0.1262, breaking a descending trendline and compressing within a descending triangle around the $0.13 psychological zone. Volume spiked more than 50% above the seven‑day average, indicating active repositioning rather than thin‑liquidity drift【1】. The token’s short‑term resistance now sits at $0.13; failure to reclaim this level keeps the bearish structure intact.
Shiba Inu mirrored DOGE’s move, tracking lower during U.S. hours and failing to regain its short‑term consolidation floor. Volume also rose on declines, suggesting sector‑wide distribution rather than isolated selling【1】. Although Coinbase introduced regulated SHIB futures tied to a 1,000‑token index—an institutional milestone—the near‑term price action remains dominated by technical factors, not the regulatory development【1】.
Both tokens show increased whale accumulation, yet price action remains weak. For DOGE, large‑holder buying contrasts with a lack of upward momentum, implying longer‑term interest but short‑term conviction is missing【1】. SHIB’s recent burn rate surge—644.9% in a single day, removing 30.4 million tokens—reflects community efforts to create scarcity, but this has not translated into price gains, as technical resistance dominates【2】. Open interest in DOGE reached $5.03 billion, the highest since September 2022, while liquidations of $8.88 million in the past 24 hours indicate heightened volatility and potential downside pressure【2】.
While Ethereum held relatively firm, meme coins like DOGE and SHIB continue to underperform, widening the performance gap within crypto. The divergence persists despite incremental improvements in SHIB’s market structure and the launch of compliant derivatives, underscoring a broader de‑risking away from high‑beta assets【1】.
The synchronized decline of Dogecoin and Shiba Inu illustrates that meme‑coin performance is now more a function of shared technical patterns and market sentiment than token‑specific news, leaving their short‑term trajectory dependent on breaking key resistance levels.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 4 outlets · Jul 23, 2026 · How we report
Shiba Inu has 589.2 trillion tokens in circulation as of 2024. This large supply is frequently cited by analysts as a primary obstacle to the token reaching a $1 valuation.
Approximately 1,072 to 1,200 businesses worldwide accept Shiba Inu as a form of payment for goods and services, according to data from the crypto directory Cryptwerk.
Shiba Inu developers and community members burn tokens to remove them from circulation permanently in an attempt to increase the price per token. Analysts note that while this reduces supply, it does not create new value for investors because their net financial position remains unchanged.
Shiba Inu is not considered a legitimate store of value by market analysts, who point to its extreme volatility and lack of real-world utility. Unlike Bitcoin, which has a capped supply and established investor demand, Shiba Inu has experienced declines of up to 95% from its peak value.