Dogecoin News Today: Meme Coin Market Wobbles as SHIB's Support Test Sparks Broader Concerns

Shiba Inu (SHIB) has entered a critical phase as the meme coin faces a bearish correction amid intensifying market pressure. On November 21, 2025, SHIB traded at $0.0000081, down nearly 13% from its November 13 peak of $0.0000099. The price action has drawn attention to key support levels, with analysts noting the importance of holding above $0.0000076, a level last seen in November 2023. Technical indicators suggest a potential rebound if the coin stabilizes, but further declines could deepen the correction.

The coin's Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) have both signaled bearish momentum, with the RSI reading at 34 and a bearish crossover in the MACD. These signals indicate that selling pressure remains dominant, but traders are closely watching for a reversal as SHIB approaches its immediate support at $0.0000081. A successful defense of this level could trigger a rebound toward the $0.0000099 resistance, where previous rejections have occurred. However, failure to hold above $0.0000076 would likely extend the decline, testing the psychological significance of that threshold.

The broader meme coin market has mirrored SHIB's struggles, with Dogecoin (DOGE) and Pepe (PEPE) also experiencing sharp corrections. DOGE, for instance, closed below $0.149 after a 17% drop from its November 11 peak, while PEPE faces a potential breakdown if it closes below its lower trendline support. This synchronized weakness underscores a broader risk-off sentiment among speculative investors, who have been rotating out of high-volatility assets amid macroeconomic uncertainties and regulatory scrutiny according to market analysis.

Despite the bearish outlook, some analysts argue that SHIB's low price and growing community engagement could eventually drive a recovery. The coin's on-chain activity remains robust, with whale movements and social media chatter hinting at renewed interest. However, any rebound would likely require a catalyst, such as a broader market rally or a positive surprise in the token's use case developments. For now, the focus remains on technical levels and whether SHIB can hold its key support without succumbing to further selling pressure.