## As Year-End Liquidity Dries Up, Meme Coins DOGE and SHIB Enter "Defend Key Levels" Tug-of-War

With the holidays approaching, market liquidity has significantly shrunk, and meme coins are not having an easy time. The performance of Dogecoin and Shiba Inu, the two major meme tokens, has been like walking a tightrope—one desperately holding support, the other already breaking through a critical line of defense.

According to the latest data, DOGE is currently trading around $0.14, with a 24-hour change of only +0.38%, while SHIB has slipped to $0.000007165. The predicament of both coins points to the same issue: a lack of upward momentum in the broader market. Bitcoin's rebound was fleeting during US trading hours, and Ethereum's heavy presence weighs down the market, resulting in funds rapidly retreating from high-risk assets, with meme coins bearing the brunt of the sell-off.

## Technical Analysis: DOGE Teeters on the "Line of Life and Death"

Looking at DOGE's candlestick chart, it is trapped in an increasingly tight consolidation range. The repeated failures at the $0.1260–$0.1264 level indicate the bulls' weakness. This zone is now seen as a strong resistance, backed by high-volume sell orders. Conversely, the $0.1208–$0.1220 range has become the "last line of defense"—if it cannot hold here, the next move is further decline toward $0.1250–$0.1280.

To change the situation, DOGE must return to $0.133 to truly reverse its trend; otherwise, a continued break below $0.122 will trigger a chain of stop-loss sell orders, making the situation even more chaotic.

## SHIB Has Broken Support, Bulls Are in a Worse Position

SHIB's situation is even more dire. It has already broken through the support zone of $0.00000717–$0.00000718, which should have held as a bottom, and now the price is fluctuating around $0.000007165. The next potential support level is at $0.000007145, but if that also fails, the real demand zone is around $0.00000707—meaning there is still room for further decline.

On the rebound front, attempts to recover from $0.00000722–$0.00000725 have been suppressed, indicating that as long as trading volume remains weak, any rebound will only be fleeting.

## Current Trading Logic Is Clear: Hold or Break

For traders, it all comes down to two levels: Can DOGE hold $0.122? Can SHIB regain its position above $0.00000717–$0.00000718? These two levels act like defensive lines, determining whether the market will bottom out or continue to probe lower.

In simple terms, as long as Bitcoin continues to fluctuate and Ethereum remains sluggish, meme coin rebounds will only be a flash in the pan. Instead of chasing high rebounds, it’s better to watch these key levels and see what the market’s true intentions are. Once these two supports are effectively broken, especially with high trading volume, that will be a real danger signal. Currently, this is not a market of sharp crashes but one of repeated failed rebounds creating selling pressure.