Key Highlights:
- Dogecoin (DOGE) struggles below $0.19, risking a deeper drop toward $0.15.
- Shiba Inu (SHIB) breaks below the 50-day EMA, raising 10% decline risks.
- Pepe (PEPE) holds a fragile support at $0.0000115, vulnerable to breakdown.
The meme coin rally appears to be losing steam as Dogecoin, Shiba Inu, and Pepe all flash bearish technical signals. With momentum fading across the crypto market, traders are closely watching critical support levels for potential breakdowns that could trigger further losses.
🚨 Dogecoin Slips Below Key Support: $0.18 Breakdown Could Trigger $0.15 Test
Dogecoin (DOGE) has been on the back foot, falling nearly 14% last week and currently trading around $0.19. The meme favorite closed below its 200-day Exponential Moving Average (EMA) at $0.21 and now tests the weekly support at $0.18.
- Bearish Scenario: A daily close below $0.18 could accelerate the downtrend, targeting the next major support at $0.15.
- Technical Indicators: The RSI sits at 39, confirming bearish momentum, while the MACD shows a clear bearish crossover with growing red histogram bars.
Should DOGE stage a recovery, it must reclaim the 200-day EMA at $0.21 to revive bullish sentiment.
🐾 Shiba Inu Loses Grip: Bears Eye April Lows
Shiba Inu (SHIB) continues to decline after breaking below its 50-day EMA at $0.0000139. Currently hovering near $0.0000127, SHIB risks further downside unless bulls reclaim higher ground.
- Downside Potential: If resistance holds, SHIB may slide another 10%, potentially revisiting the April 16 low of $0.0000114.
- Momentum Shift: The RSI is down at 38, confirming bearish pressure. A bearish MACD crossover also hints at continued weakness.
A recovery above the 50-day EMA could limit downside risks and offer a short-term bullish reprieve.
🐸 Pepe Battles Support as Bearish Divergence Unfolds
Pepe (PEPE) dropped over 13% last week and now clings to support at $0.0000115—right at its 50-day EMA. A failure to hold above this level could open the door to further correction.
- Breakdown Risk: A close below $0.0000113 may send PEPE down to retest $0.0000103.
- Bearish Outlook: The RSI stands at 44, while MACD shows a bearish crossover with expanding red bars, indicating fading bullish momentum.
To invalidate this bearish setup, PEPE must hold above the current support and rebound toward the $0.0000125–$0.000013 zone.
📉 Final Thoughts
Meme coins are facing increasing bearish pressure amid broader crypto market weakness. Unless key resistance levels are reclaimed soon, Dogecoin, Shiba Inu, and Pepe may all be headed for deeper pullbacks.
Stay Updated With Dailyforex.pk