- DOGE, SHIB, and PEPE have pulled back after failing to break key resistance levels despite last week’s strong gains.
- Technical indicators remain mixed, leaving room for a recovery if important support levels hold.
Meme coins started the week on a weaker note as buyers stepped back after last week’s gains. Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) are all trading lower after failing to break through key resistance levels.
Although recent price action has turned bearish, technical indicators still suggest that buyers have not completely lost control. If support levels hold, these meme coins could attempt another recovery in the coming sessions.
Dogecoin Pulls Back After Rejection at Key Resistance
Dogecoin has extended its decline after failing to break above the weekly resistance level at $0.0782. The meme coin is trading below $0.0745, continuing the correction that began after sellers rejected the latest rally. If selling pressure continues, DOGE could revisit its yearly low near $0.0695.
Technical indicators present a mixed picture. The RSI stands at 35, showing that bearish pressure remains strong. However, the MACD still maintains a bullish crossover that formed on July 3, suggesting the broader recovery setup remains in place. If buyers regain control, DOGE could once again test the $0.0782 resistance level.
Shiba Inu Struggles Below Trendline Resistance
Shiba Inu gained more than 6% last week before running into strong resistance around $0.0000045, where a descending trendline and daily resistance meet.
SHIB failed to close above this level, leading to a decline of more than 3% over the following two days. The coin is now trading below $0.0000043. Should the correction continue, SHIB may fall toward its yearly low of $0.0000040.
Its technical signals also remain divided. The RSI remains below the neutral level, indicating continued bearish pressure. At the same time, the MACD maintains a bullish crossover, suggesting buying interest has not disappeared completely. A successful recovery could push SHIB back toward the $0.0000045 resistance zone.
PEPE Gives Back Part of Last Week’s Gains
PEPE delivered one of the strongest performances among major meme coins last week, climbing more than 16%. However, the sharp rally has encouraged traders to secure profits, leading to a pullback at the start of the new week. If the decline continues, PEPE could test support near $0.0000025, where a key trendline also converges.
The RSI has slipped to 47, falling below the neutral mark and showing that buying strength has weakened. Even so, the MACD continues to hold its bullish crossover from July 3, keeping the possibility of another upward move alive. If buyers return, PEPE could target the 50-day EMA around $0.0000029.
Can Meme Coins Recover From This Pullback?
The latest decline across DOGE, SHIB, and PEPE follows a strong rally that lifted sentiment in the meme coin sector. While short-term selling pressure has increased, bullish MACD signals across all three assets suggest the broader recovery has not yet been invalidated.
The next few trading sessions will be important. Holding above key support levels could allow buyers to make another attempt at recent resistance. However, a break below those supports may open the door for deeper losses before any sustained recovery begins.
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