Dogecoin (CRYPTO: DOGE) dropped more than 9% and Shiba Inu (CRYPTO: SHIB) slipped over 5% on Monday as both tokens extended their breakdowns inside long-running bearish channels.
DOGE Breaks Down As Sellers Defend Every Rally
DOGE Price Analysis (Source: TradingView)
Dogecoin slipped directly into the lower boundary of a falling channel that has rejected every recovery attempt since late October.
The token remains below the Supertrend barrier at $0.1686, keeping the bias pointed lower.
The moving averages continue to trend downward.
The 20-day EMA sits at $0.1536, followed by the 50-day at $0.1730, the 100-day at $0.1906, and the 200-day at $0.2020.
Each attempt to reclaim the 20-day line has failed since October.
A broader support zone around $0.12 to $0.13 remains the next critical area.
DOGE Netflow Data (Source: Coinglass)
DOGE recorded $14.38 million in net outflows on Dec. 1, according to Coinglass, with red prints dominating since September.
The absence of consistent inflows shows that traders continue to reduce exposure rather than accumulate at lower levels.
SHIB Extends Decline After EMA Cluster Rejection
SHIB Price Prediction (Source: TradingView)
Shiba Inu fell more than 5 percent to trade around $0.00000790 after failing to break above its short-term resistance earlier this week.
The chart shows SHIB still moving inside the same downward channel it has been stuck in all year, with each bounce running into sellers quickly.
Price tried to move higher earlier in the week but turned lower as soon as it touched the area where several moving average lines sit together.
The latest rejection confirms that sellers are still in control.
SHIB is now drifting toward the lower half of the channel again.
The lower band of the Bollinger indicator, currently near $0.00000761, is the next area where price has reacted before.
Past visits to this level produced only small, short-lived bounces, which shows that buyers have not been strong enough to shift the trend.
Losing the $0.00000800 support increases the risk of SHIB sliding back to this lower zone.
For any real improvement, SHIB would need a daily close above $0.00001050, which is the area it has failed to reclaim for months.
Until then, the broader downtrend stays intact and continues to limit recovery attempts.
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