SHIB Tests Support but DOGE Lacks Momentum Amid $3M+ Liquidations: Key Levels to Watch
The meme coin market is showing signs of divergence as Shiba Inu (SHIB) stabilizes near support while Dogecoin (DOGE) struggles to regain footing after heavy liquidations. SHIB has managed to attract dip-buying interest thanks to technical support and ecosystem upgrades, while DOGE continues to face headwinds from whale profit-taking and sector-wide risk aversion. Together, their performance highlights the fragile sentiment across meme coins as traders weigh technical levels against broader market flows.
SHIB Holds Support, Eyes Resistance
Shiba Inu found support near $0.000012, aligning with its 30-day SMA ($0.000012755). Indicators show selling pressure easing:
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MACD histogram reflects slowing bearish momentum.
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RSI (43.39) avoided oversold territory, suggesting stabilization.
What this means: Short-term traders are exploiting oversold conditions, but resistance at $0.000013236 (38.2% Fibonacci retracement) remains a challenge.
What to watch: A daily close above $0.000013 could unlock momentum toward $0.000014, while failure to break resistance risks renewed downside.
Shibarium Ecosystem Upgrade
Fundamentals also support SHIB’s resilience. On August 29, the Shib Alpha Layer beta launched, enabling faster transactions and multi-asset gas payments. This Layer-3 solution is designed to simplify blockchain interactions and broaden SHIB’s utility.
What this means: By addressing scalability and usability, Shibarium could draw developers and fuel new applications. Historically, milestones such as surpassing 1.4B transactions have aligned with SHIB price rallies, making ecosystem growth a catalyst to watch.
DOGE Faces Technical Weakness
Dogecoin, meanwhile, remains under pressure. Prices sit below both the 7-day ($0.2165) and 30-day ($0.2222) SMAs, while indicators lean bearish:
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MACD histogram: -0.00194.
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RSI-14: 45.18, close to oversold but lacking reversal signals.
Losing $0.23 triggered bearish sentiment, turning the $0.214–$0.222 zone into resistance. Critical support now lies at $0.20–$0.195.
What to watch: A break below $0.20 could accelerate declines toward the 200-day SMA ($0.1977).
DOGE’s decline has been exacerbated by whale selling. In early August, Dogecoin suffered over $3M in liquidations during a 5% drop to $0.195. Whale wallets dumped about 310M DOGE near $0.23, reinforcing resistance at that level.
Diverging Paths in Meme Coin Sentiment
SHIB and DOGE are moving in different directions. SHIB shows resilience, holding above support while ecosystem upgrades add a bullish narrative. If buyers can push above $0.000013 resistance, momentum could carry it higher. DOGE, however, faces technical breakdowns and persistent whale selling, with $0.20 support now the last major defense before deeper corrections.
Outset PR: Clarity Beyond Market Noise
Just as SHIB and DOGE face uncertainty from technical levels and whale actions, crypto projects themselves must navigate unpredictable markets with precision. This is where Outset PR, founded by strategist Mike Ermolaev, delivers an edge.
Outset PR operates like a hands-on workshop, designing campaigns tailored to each project’s stage, goals, and market context. Instead of mass-blast outreach, it emphasizes performance-based media selection, choosing outlets based on discoverability, domain authority, and viral potential, while timing narratives to maximize impact.
The agency’s proprietary traffic acquisition technology is a standout, blending editorial coverage with SEO and lead-generation tactics. This approach has generated results far beyond standard PR. For instance, ChangeNOW achieved a 40% boost in customer reach after Outset amplified coverage with a Google Discover campaign.
In a space where PR often feels like a black box, Outset PR delivers C-level clarity, turning communications into a measurable growth engine. For web3 projects this kind of data-driven, insight-backed storytelling ensures visibility and trust are sustained even when markets turn volatile.
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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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