[DigitalToday reporter Jinju Hong (홍진주)] Buying interest in Shiba Inu (SHIB) is weakening quickly, raising concerns about further declines. Dogecoin (DOGE) has entered oversold territory, prompting talk of a technical rebound. Bitcoin (BTC) is locked in a battle around $60,000, with its ability to hold that level emerging as a key near-term market variable.

On June 30, blockchain media outlet U.Today reported that the market is becoming more wary of potential large-scale selling as hundreds of billions to trillions of SHIB have recently moved to centralized exchanges.

The most notable shift is exchange inflows. SHIB exchange outflows recently rose to about 295 billion tokens, but inflows also topped 240 billion tokens. Net outflows are still intact, but a sudden increase in exchange deposits is spreading concerns that large investors may be preparing to sell.

Investor sentiment is also shrinking quickly. The outlet said investors are choosing to wait and see rather than try to "catch a falling knife."

Technical signals are also bearish. After breaking out of a rising wedge pattern that had persisted for months, SHIB failed in all major rebound attempts and is now trading below its 50-day, 100-day and 200-day moving averages. Each rebound attempt has been met with a wave of selling, limiting fresh buying interest.

On-chain indicators improved somewhat. Over the past 24 hours, the number of active addresses, active sending addresses and transactions increased. That is generally a positive sign, but the market is reacting more sensitively to price action than to network activity.

The outlet assessed that on-chain improvement alone would be insufficient to restore sentiment as SHIB continues to post lower highs and lower lows. It also pointed to funds concentrating in bitcoin and Solana (SOL), which it said is pushing SHIB out of investors' focus.

Dogecoin, by contrast, is drawing talk of a technical rebound. DOGE is trading at about $0.072, down more than 35 percent from the high above $0.11 it set in May. Its pace of decline has recently shown signs of slowing.

The most visible change is the relative strength index (RSI). DOGE's RSI fell to about 21, putting it in oversold territory. An RSI below 30 typically signals strong selling pressure, but it is also viewed as a zone where a technical rebound becomes more likely. The outlet also cited the absence of the kind of heavy volume seen during past sharp selloffs as a factor supporting the possibility of a bottom forming.

Still, the outlet said it is too early to conclude a trend reversal. DOGE is still trading below its 50-day moving average of $0.083, and its 100-day moving average of $0.093 and 200-day moving average of $0.11 remain key resistance levels.

Bitcoin has fallen again to the $59,000 to $60,000 range and is trying to defend that psychological support. The market sees whether it can hold $60,000 as a key variable shaping the near-term trend.

Technical signals remain bearish. After breaking below the trend line that supported its April-May rally, bitcoin underwent a sharp correction throughout June and is still trading below its 50-day, 100-day and 200-day moving averages. The 50-day exponential moving average, at about $63,700, is acting as the first resistance level, while the 100-day and 200-day moving averages are formed near about $69,000 and $76,500, respectively.

Bitcoin's RSI has also slipped to around the 30 level, moving closer to oversold territory, but the outlet said the oversold condition could last longer than expected. It also interpreted sustained high volume during the recent decline as a sign that investors are reducing risk exposure rather than actively buying the dip.

The market sees that if bitcoin holds $60,000 support and reclaims its 50-day moving average, it could attempt a rebound toward around $69,000. If $60,000 breaks, another view is that further liquidations could follow and test lower price levels.

U.Today pointed to weakening SHIB buying interest, DOGE oversold signals and bitcoin's ability to hold $60,000 as key variables in the current cryptocurrency market.