Meme Coin Market Under Pressure: DOGE, SHIB, and PEPE Face Extended Bearish Phase Amid Weakening Momentum

The meme coin sector continues to grapple with sustained downward pressure as traders navigate a challenging technical landscape. Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) are all experiencing momentum deterioration following a brief rally earlier in January, creating an environment where supply outpaces demand across the board.

The Broader Picture: Meme Coins Under Siege

Meme tokens have endured approximately seven consecutive trading sessions marked by consistent selling activity since the early January peak. The absence of fresh catalysts in the wider cryptocurrency ecosystem, combined with cooling retail interest, has left this volatile segment vulnerable to further downside retracement. Market participants appear hesitant to accumulate at current levels, suggesting that conviction around the meme coin narrative may be waning.

Dogecoin: Holding Support But Losing Traction

DOGE is currently trading near $0.14 levels, down 1.96% over the past 24 hours despite a modest 2.06% weekly gain that now appears to be reversing. The token has broken below its 50-day Exponential Moving Average (EMA) at $0.1427, with price action now testing support near the November 21 low of $0.1332—a level that previously offered strong resistance before flipping into a buyers’ lifeline.

The technical picture reveals a loss of bullish conviction. Dogecoin’s daily Relative Strength Index (RSI) sits at 48, having dipped below the neutral midpoint to signal that selling pressure is intensifying. More concerning, the Moving Average Convergence Divergence (MACD) is converging with its signal line, threatening a bearish crossover that would validate bearish-tilted positioning among algorithmic traders.

Should DOGE fail to hold the $0.1332 support zone, the December 31 low at $0.1161 becomes the next critical level to monitor. Conversely, if buyers manage a defense at current support, potential recovery targets include the 50-day EMA at $0.1427 and the November 26 high at $0.1568.

Shiba Inu: Clinging to Technical Support as Buyers Step Back

Shiba Inu is hovering marginally above its 50-day EMA at $0.00000834 after an extended seven-day selloff. The token shows tentative stabilization signals, though conviction remains questionable.

SHIB’s daily RSI reading of 53 tells an important story—the indicator has descended sharply from overbought extremes, hinting that accumulation demand is evaporating rather than strengthening. The MACD indicator is also trending lower and approaching its signal line, positioning the pair for a potential sell signal that would reinforce downside momentum.

The 50-day EMA serves as the critical last stand for bulls. If this level buckles, the October 10 low at $0.00000678 emerges as the next support zone. If buyers successfully defend current territory, an advance toward the October 11 high at $0.0000956 could unfold, though the technical backdrop suggests such a bounce would face significant headwinds.

Pepe: Sell Signals Override Price Stabilization Attempts

Pepe is trading above the psychological $0.00000500 level but faces intensifying bearish technical signals. The token has surrendered the gains accumulated during the January 3-4 spike, with a 24-hour decline of 8.46% and a 7-day loss of 3.84% underscoring the severity of recent selling.

The most pressing concern is the MACD’s confirmed bearish crossover below its signal line—a pattern that historically precedes extended downside moves in meme coins. PEPE’s RSI at 55 has collapsed from overbought readings, indicating that bullish momentum has sharply deteriorated.

With bearish conditions dominating, the 50-day EMA at $0.00000528 represents the next support zone if the $0.00000500 level fails. Resistance for a potential rebound is positioned at the $0.00000650 zone, with the 200-day EMA at $0.00000738 providing an additional barrier for upside continuation.

What’s Next for the Meme Coin Doge and Broader Sector?

The technical evidence across DOGE, SHIB, and PEPE points to extended caution. With RSI indicators below neutral territory, MACD sell signals flashing, and key support levels in jeopardy, the path of least resistance appears downward. Until buying pressure resurfaces and momentum indicators reverse, traders should remain defensive and wait for stronger technical confirmation before deploying capital into this sector. The recent selling has erased early-January enthusiasm, and capitulation levels may need to be tested before a genuine recovery attempt takes shape.