- Meme coin market sees Dogecoin, Shiba Inu, and Pepe under pressure after breaking key support levels and losing recent gains.
- Bearish signals point to a possible deeper correction if buyers fail to reclaim key price zones.
Meme coins are under renewed selling pressure as major coins continue to lose key support levels. The broader correction is now affecting leading assets such as Dogecoin, Shiba Inu, and Pepe, all of which have struggled after recent weekly losses.
Market sentiment has weakened as traders react to failed breakouts, broken consolidation zones, and bearish technical signals across the meme coin sector.
Dogecoin faces pressure below key moving averages
Dogecoin continues to trade in negative territory after dropping more than 6 percent over the past week. The coin failed to break above the 100-day Exponential Moving Average near $0.105, triggering renewed selling pressure.
Price action has now slipped below both the 50-day and 100-day moving averages, leaving DOGE vulnerable to further downside. At current levels near $0.102, the next key area of interest sits at the psychological support of $0.100.
Technical indicators also point to weakness. The Relative Strength Index remains below 50, showing fading buying strength, while MACD signals continue to reflect a bearish crossover that has not yet reversed.
If buyers return, Dogecoin would need to reclaim $0.105 to regain short-term stability.
Shiba Inu breaks consolidation support
Shiba Inu has also weakened after closing below the lower boundary of its consolidation range around $0.0000056. The breakdown signals a potential shift from sideways movement to a deeper correction phase.
At the time of writing, SHIB is retesting the broken support level. Failure to move back above this zone could open the door toward the next downside target near $0.0000050, a level last seen in early February.
Momentum indicators remain under pressure, with both RSI and MACD suggesting continued bearish control in the short term. A recovery above $0.0000056 would be needed to stabilize price action and potentially push SHIB toward the 50-day EMA near $0.0000060.
Pepe edges closer to critical support
Pepe has also been caught in the broader market decline, falling more than 2.7% last week. The token is now testing support around $0.0000036 after repeated attempts to hold above this level.
A firm daily close below this support could accelerate losses toward $0.0000033, marking a deeper correction phase. Like other meme coins, Pepe is also showing weakening technical signals, with RSI and MACD both leaning bearish.
If buyers manage to defend current levels, a short-term recovery toward $0.0000038 and the 50-day EMA remains possible.
Meme coin sector under growing correction pressure
The simultaneous weakness across Dogecoin, Shiba Inu, and Pepe highlights a broader cooling phase in the meme coin market. Failed resistance tests, broken support levels, and bearish technical indicators suggest that sellers currently have the upper hand.
Until key levels are reclaimed, the market may remain vulnerable to further downside moves across the sector.
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