Dogecoin and Shiba Inu Face Tough Resistance: Can Bulls Push for a Breakout?
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**Meme Coin Market Rebounds Amid Positive Macroeconomic Signals**
The meme coin market is showing signs of a strong recovery following two key developments: the Trump campaign’s decision to halt tariff hike plans and newly released inflation data indicating a potential slowdown. These encouraging macroeconomic factors have reignited bullish sentiment across the broader crypto market, helping Bitcoin edge closer to the $85,000 mark. In response, popular meme coins like **Dogecoin (DOGE)** and **Shiba Inu (SHIB)** have seen renewed buying interest.
Despite this momentum, both DOGE and SHIB continue to face stiff resistance at critical price levels. This suggests the potential for a short-term pullback before any sustained rally can take place.
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### **Surge in Open Interest Signals Growing Market Activity**
The recent uptick in meme coin prices has led to a notable increase in open interest (OI), pointing to a rising number of active traders and fresh capital entering the market. According to data from **Coinglass**, Dogecoin’s open interest climbed by **3.2%**, reaching approximately **$1.57 billion**. Shiba Inu also recorded a modest OI increase of **0.05%**, with total open interest now exceeding **$120 million**.
However, the surge in OI—especially near strong resistance zones—has also led to heightened price volatility and a rise in short positions. This mixed sentiment could cause choppy price action in the near term as bulls and bears battle for control.
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### **Dogecoin (DOGE) Price Outlook**
Dogecoin is currently attempting to break past the **$0.17 resistance**, a key level that has repeatedly capped its upward momentum. As of now, DOGE is trading around **$0.165**, marking a **2% gain** over the past 24 hours.
The **Relative Strength Index (RSI)** stands at **58**, reflecting healthy buying momentum, though not yet overbought territory. If bulls maintain pressure and successfully push DOGE above the $0.17 level, the next resistance to watch lies at **$0.20**. A decisive breakout beyond this level could further fuel bullish sentiment and potentially trigger a rally toward **$0.25**.
Conversely, if DOGE fails to hold above the ascending trendline support, the price may begin to retreat. A break below the **23.6% Fibonacci retracement level** could drag DOGE down to **$0.13**, potentially inviting more aggressive selling and reinforcing a bearish trend.
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### **Shiba Inu (SHIB) Price Analysis**
Shiba Inu is currently facing strong resistance at **$0.000013**, which has limited its recent upward moves. The meme token is trading at **$0.0000122**, up a modest **0.5%** in the last 24 hours, reflecting cautious optimism among buyers.
Despite the limited price action, bulls remain active, showing a willingness to defend key support zones. The **RSI is at 56**, indicating a slight bullish advantage. A successful breakout above the $0.000013 level could pave the way for a move toward **$0.0000157** in the near term.
On the downside, failure to maintain support at the **20-day EMA** could expose SHIB to further losses. A drop below this moving average may push the price toward the **$0.0000102** support zone, where sellers could try to extend control.
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**Final Thoughts**
While broader market optimism is lifting sentiment around meme coins, DOGE and SHIB remain at pivotal levels. Their next moves will likely depend on whether bullish momentum can overcome established resistance. Traders should keep a close eye on open interest trends, RSI readings, and key support/resistance zones for signs of the next major price shift.