- Dogecoin vs Shiba Inu: Both Dogecoin and Shiba Inu start July with similar setups:


Dogecoin tests its recovery potential above the support level of $0.0700, but gains remain largely limited below key moving averages.
The slight recovery seen in Shiba Inu on Wednesday is based on the support level at $0.0000040, supported by increasing momentum indicators.
The stability of Dogecoin's futures open interest increases the likelihood of recovery, while the decline in demand for Shiba Inu may lag behind a trend reversal.

The cryptocurrency market showed slight signs of recovery on Wednesday after facing significant challenges over the past few weeks, mostly attributed to geopolitical tensions, macroeconomic uncertainty, and risk-averse investor sentiment. Both Dogecoin (DOGE) and Shiba Inu (SHIB) maintain stability above pivotal support levels at $0.0700 and $0.0000040 respectively, indicating investors' readiness to return to the market.

Dogecoin and Shiba derivatives signal caution as risk aversion persists
Dogecoin derivatives remained stable, with the open interest in perpetual futures reaching $983 million on Wednesday, a slight increase from $971 million the previous day. Despite this stability, retail investor interest remains significantly below the open interest of $1.77 billion recorded in early May, and far from the record $6 billion in July 2025. Continued retail investor interest remains a key factor supporting Dogecoin's positive short-to-medium-term outlook.

Dogecoin Futures Open Interest Data | Source: CoinGlass
As for Shiba Inu, demand in the retail sector continues to decline, evident from the drop in futures open interest to $26 million on Wednesday, down from approximately $32 million the previous day. Interest in Shiba Inu derivatives has not improved since the start of the year, with open interest peaking at $145 million on January 6. Current expectations appear minuscule compared to the record $542 million recorded in January 2025.

Shiba Inu Market Futures Data | Source: CoinGlass
$DOGE
$SHIB
DOGE1.49%
SHIB2.92%
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