Dogecoin, Shiba Inu Break Down—The End Of The Meme Coin Run?

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 …

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