Meme Coin Divergence: $SHIB Rise Momentum, $DOGE Faces Resistance Barrier

The meme coin market is witnessing a clear divergence between two popular currencies: Dogecoin ($DOGE) and Shiba Inu ($SHIB). After a strong correction on Friday, both are fluctuating around important technical support zones, but the price reaction and investor sentiment are showing a contrarian trend. 🐕 Dogecoin: Facing Resistance Barriers and Long-term Downtrend DOGE is currently trading around $0.2243 after holding above the $0.20 level for 4 consecutive days. The continuous appearance of Doji candles indicates hesitation in the trend, while the 200-day EMA at $0.2178 serves as strong support. However, the technical outlook leans towards a negative trend: The "double top" model (double top) has formed at the supply zone $0.25 – which also coincides with the long-term resistance line since December. The neckline (neckline) of this model is at $0.2145 – if the closing price is below this level, it is highly likely that DOGE will continue to adjust further down, even retreating to the low of $0.1667 recorded at the beginning of May. Conversely, if the long-term downtrend line is broken, the zone $0.30 – which is currently resistance transitioning from previous support – will become the target for the bulls. 🐶 Shiba Inu: Strong Accumulation and Recovery Potential Meanwhile, SHIB is showing more positive signs, trading around $0.00001439, above the support zone of $0.000014 and the 50-day EMA at $0.00001412. SHIB reversed at $0.000014 after the sell-off, and although it has not been able to break through the $0.000017 resistance, the bearish pressure is not too strong. Fibonacci analysis from a peak of $0.00003285 to a low of $0.00001066 (từ 5/12 to 8/4) points to a short-term resistance level at $0.00001590 – coinciding with the 23.6% Fibonacci level and 200-day EMA. If this zone is crossed, SHIB's next targets will be $0.00001914 (38.2%) and $0.00002175 (50%). 📉 Derivatives: Investors Lean Towards SHIB On the derivatives market, data shows that investor sentiment is clearly polarized: The Open Interest (OI) of Dogecoin ( has slightly decreased by 0.14% to $2.64 billion, with the funding rate holding at 0.0095%. In the past 24 hours, DOGE recorded long position liquidations of up to $3.36 million, far surpassing SHIB which only had $190K long and $133K short. Notably, the long/short ratio of the two tokens is shifting: The ratio of Shiba Inu reached 0.9928, with buying order volume increasing consecutively for three days, indicating that demand is recovering. In contrast, Dogecoin is being shorted more, with the ratio decreasing to 0.885 and 53.05% of positions being short. 🔍 Summary The current divergence between $SHIB and $DOGE clearly reflects the differences in market sentiment: SHIB is having a chance to recover if it holds the support zone and breaks through the upcoming technical resistance. DOGE faces significant downward pressure if it cannot protect the important neckline level. In the context of unpredictable volatility, investors need to closely monitor technical signals and derivative cash flows to make informed decisions.