DOGE and Shiba Inu are experiencing intensified falls! Short positions are rising, how much longer can the price hold?

As the crypto market experiences intensified fluctuations, Dogecoin (DOGE) and Shiba Inu (SHIB) have both recently entered a pullback, with prices failing to break through key resistance levels. Derivative product data shows that market short positions sentiment continues to rise, with traders remaining highly alert to the downside risks of these two major memecoins. This article will provide an in-depth analysis of the latest trends, technical indicators, and market outlook for DOGE and SHIB, helping investors grasp the bull-bear reversal points.

Short positions surge, market bearish sentiment明显

According to CoinGlass data, the long-short position ratios of DOGE and SHIB have dropped to 0.86 and 0.82 respectively, hitting a new low in nearly a month. A ratio below 1 indicates that short positions dominate the market, and traders generally expect prices to continue to decline. Additionally, the funding rates of the two major memecoins have also decreased simultaneously, with DOGE at 0.0005% and SHIB at only 0.0001%, close to the negative value zone. If the funding rates turn negative, shorts will need to pay funding to longs, indicating further downward pressure.

DOGE Price Analysis: Breaks Key Support, Pullback Risk Intensifies

The price of DOGE has recently fallen below the daily resistance level of 0.21 USD and the upward trend line, closing below the 50-day EMA at 0.20 USD. Although there was a slight rebound in the short term, it failed to regain above the trend line, and on Wednesday the price dropped below 0.19 USD. If the downtrend continues, DOGE may test the weekly support at 0.18 USD, or even further dip to the early July low of 0.15 USD. In terms of technical indicators, the RSI is below 50 and pointing downward, while the MACD also maintains a bearish crossover, indicating strong short positions momentum.

Shiba Inu Price Analysis: Continuing Decline, Support Level in Jeopardy

Since Shiba Inu broke below the 50-day moving average on July 29, it has fallen 10% within four days, with the current price around 0.0000119 USD. If the downtrend continues, SHIB may test the next daily support at 0.0000111 USD, and further declines would challenge the June 22 low of 0.0000100 USD. Both RSI and MACD support a bearish trend, and short-term recovery momentum is limited. If it can reclaim the 50-day EMA, a rebound to the resistance level of 0.0000136 USD is expected.

Market Outlook: Short Positions Dominate, Pay Attention to Key Resistance

Currently, both DOGE and SHIB are dominated by short positions, with technical indicators and derivatives data pointing to downside risk. If there is no effective breakthrough of key resistance in the short term, prices may continue to pull back. Investors should closely monitor the bull-bear ratio, funding rates, and changes in technical indicators to flexibly adjust their trading strategies.

Conclusion

DOGE and Shiba Inu have recently intensified their downward trend, with evident rising short positions sentiment in the market. Technical indicators and derivative data both indicate downside risks, and a short-term rebound requires breaking through key resistance levels. It is advisable for investors to respond cautiously and continue to pay attention to market dynamics and bull-bear reversal points.