📉 Dogecoin & Shiba Inu Face Harsh Sell-Off — Correction Deepens, Bulls Retreat

📉 Market Overview & Resistance Rejection

🟠 DOGE was rejected at the $0.21 daily resistance, triggering a fresh downward move.

🔴 SHIB slipped below $0.0000119, signaling waning momentum.

🔁 Both tokens are now correcting lower, with technical breakdowns strengthening the bearish narrative.

📊 Derivatives Say It All: Traders Are Bearish

📉 CoinGlass Long/Short Ratios (Wednesday):

DOGE: 0.86

SHIB: 0.82
📌 These are the lowest levels in the past month.

💸 Funding Rates (Wednesday):

DOGE: 0.0005%

SHIB: 0.0001%
⛔ Both are nearing negative territory, suggesting traders are paying to stay short.

📈 DOGE Price Forecast: Trendline Rejection

❌ Closed below the 50-day EMA at $0.20.

🔻 Broke a key ascending trendline from June 22.

🔄 Failed to reclaim the trendline early this week — resumed its drop.

Potential Targets:

🧱 Support 1: $0.18

🧱 Support 2: $0.15 (July 1 low)

📈 Bullish Scenario: Bounce back to $0.24 on strong reversal.

🐕 SHIB Price Forecast: Bears in Full Control

💥 Dropped 10% in four days post break below the 50-day EMA.

📉 Continues to print lower highs and lower lows.

Potential Targets:

🧱 Support 1: $0.0000111

🧱 Support 2: $0.0000100 (June 22 low)

📈 Bullish Reversal Level: $0.0000136

🔍 Conclusion: Bearish Momentum Strengthens

🐾 Memecoins are seeing rising short interest and fading bullish strength.

📉 Trendline breaks and EMA rejections show that the correction is not over yet.

🔄 Reclaiming key resistance levels is the only way bulls regain control.

#Dogecoin‬⁩ #SHIB $DOGE $SHIB