Dogecoin (CRYPTO: DOGE) recorded a substantial outflow of $39.29 million on Friday, representing the most significant one-day capital exit observed in recent times. This withdrawal reflects heightened pessimism among larger holders, coinciding with DOGE and Shiba Inu (CRYPTO: SHIB) breaching essential technical support levels without any corresponding buying enthusiasm. The current market dynamics reinforce a downtrend for both meme coins, underpinning intensified selling pressure and lackluster rally attempts.
Dogecoin’s Continued Downward Trajectory and Investor Exit
Dogecoin's price movement is emblematic of fragility, with a 2% decline recorded on the day and a precipitous 49% drop from its September peak of $0.27. The recorded $39.29 million in outflows stands as a stark indicator of active selling by significant holders, signaling diminishing confidence. Observations reveal this pattern of heightened exits has been progressively intensifying over 2025, with the recent spike representing a particularly acute episode.
Adding to the bearish narrative, Dogecoin spot exchange-traded funds (ETFs) have experienced no inflows since January 9, according to data from SoSoValue. The last recorded inflow was modest at $353,830 on January 8, underscoring a lack of fresh investment entering these vehicles.
Technically, DOGE is confined within a price range of $0.12 to $0.15, where attempts to rebound have been swiftly sold off. The relative strength index (RSI) stands at 48.27, failing to surpass the 50 threshold that demarcates bullish from bearish momentum. Furthermore, the price is trading below all pivotal moving averages: the 20-day at $0.13938, the 50-day at $0.14289, the 100-day at $0.15817, and the 200-day at $0.17788, which collectively accentuate the downtrend’s persistence.
Key Price Levels for Dogecoin
- Support: The $0.12 price level is critical; a breach here may lead to further declines to $0.11640 and potentially deeper slides toward $0.10 or even the $0.08 to $0.09 range.
- Resistance: Immediate resistance is at $0.14061 followed closely by $0.14289. A move above $0.15550 would defy current market expectations and signal a stronger bullish reversal.
Shiba Inu’s Downtrend and Resistance Challenges
Shiba Inu’s token performance mirrors Dogecoin’s struggles, with a 1.5% drop today and a cumulative 53% decline since its August high of $0.00001785. The digital asset clings tenuously to its support band between $0.00000750 and $0.00000850. The Supertrend indicator sits at $0.00000754, representing the last defense to prevent further depreciation.
Similar to DOGE, SHIB remains below all principal moving averages, all of which are descending: the 20-day is at $0.00000836, the 50-day at $0.00000837, the 100-day at $0.00000905, and the 200-day at $0.00001044. Purchasing interest is notably absent as each price rebound is met with immediate selling pressure. This dynamic is evident in January’s failed bounce to $0.00001000, which was quickly repelled, reflecting typical behavior in bearish markets where rallies serve as opportunities to offload holdings.
Shiba Inu’s Critical Price Thresholds
- Support: The Supertrend level at $0.00000754 is pivotal; falling below this could open the path to $0.00000700 and subsequently the December low near $0.00000676. Failure to hold could risk a further drop toward $0.00000500.
- Resistance: Resistance resides initially between $0.00000850 and $0.00000900, with the next significant barrier at $0.00001000. A break above the 200-day moving average at $0.00001044 would represent a notable and surprising turnaround.
Both Dogecoin and Shiba Inu currently depict market environments characterized by persistent downward price pressure, aggressive selling from larger holders, and a near-absence of buying that hampers any sustained recovery efforts. Their positions below key moving averages and the pattern of rejected rallies present ongoing challenges for investors watching these meme coins.