Meme Coin Selloff Deepens: DOGE, SHIB, and PEPE Face Technical Breakdown as Bears Tighten Grip

The meme coin rally that kicked off in early January is rapidly losing steam. After a brief spike on January 4, Dogecoin, Shiba Inu, and Pepe have entered a brutal seven-day decline, with sellers maintaining firm control and technical indicators flashing warning signs across the board. The doge meme sector is now at a critical juncture — weak buying support and fading momentum suggest further downside could be looming.

Market Context: Why Meme Tokens Are Struggling

The broader crypto market has lost its near-term catalysts, leaving meme coins especially vulnerable to profit-taking. What makes this selloff particularly brutal is the absence of fresh buying interest to cushion the declines. This toxic combination of cooling demand and relentless selling pressure is pushing DOGE, SHIB, and PEPE toward technical support levels that, if broken, could trigger cascading losses.

Dogecoin Under Siege: $0.1332 Is The Last Line Of Defense

Current Status: Dogecoin is trading around $0.14 (down 1.96% in 24 hours), clinging to the November 21 low near $0.1332 after a brutal seven-session losing streak. The doge meme’s inability to reclaim the 50-day EMA at $0.1427 is a major red flag.

The technical picture is deteriorating fast. Dogecoin’s RSI has collapsed to 48, dropping below the neutral midpoint and signaling that sellers have seized control from buyers. Worse, the MACD is converging with its signal line and threatening a bearish crossover — a development that would confirm accelerating downward momentum.

What Happens Next?

If DOGE can hold $0.1332, a bounce is possible, potentially pushing back toward the 50-day EMA and the January 6 resistance at $0.1568. However, a break below $0.1332 would shift attention downward to the December 31 low at $0.1161, opening the door to further losses.

Shiba Inu Teetering On The Edge: 50-Day EMA Under Fire

Current Status: Shiba Inu is hovering just above the 50-day EMA at $0.00000834, barely holding after matching the seven-day decline pattern seen across the meme sector. The token shows signs of attempting a recovery, but the technical backdrop tells a troubling story.

SHIB’s RSI has drifted down to 53 and is moving toward the 50 midpoint, a clear signal that bullish momentum is evaporating. The MACD is also weakening and risks slipping below its signal line — a development that would trigger a sell signal and reinforce bearish pressure.

The Risk Zone: If the 50-day EMA fails to hold, the next support target is the October 10 low at $0.00000678. On the upside, if buyers regain footing, SHIB could target the October 11 level near $0.0000956.

Pepe Flashing Sell Signals: Technical Foundation Cracking

Current Status: Pepe is trading above $0.00000500 (down 8.42% in 24 hours) but is under heavy pressure. The token has surrendered all gains from January 3-4 during this seven-day downtrend, and the MACD has already crossed below its signal line — a textbook bearish indicator.

The RSI at 55 tells the real story: it has plummeted from overbought levels, confirming that buying pressure has reversed into selling pressure. This technical deterioration leaves PEPE vulnerable to a test of the 50-day EMA at $0.00000528.

For bulls, a broader recovery in DOGE could provide PEPE with a lifeline, potentially allowing a bounce toward $0.00000650 supply zone and the 200-day EMA at $0.00000738. However, momentum would need to shift dramatically for this to materialize.

The Bigger Picture: Is This A Correction Or A Reversal?

What separates a healthy correction from a dangerous reversal is whether support holds and momentum stabilizes. Right now, neither condition is being met across the doge meme complex. RSI weakness, MACD sell signals, and a lack of fresh buying interest paint a picture of a sector that could see more damage before any meaningful recovery emerges.

Traders watching these three tokens should monitor whether the key support levels outlined above — $0.1332 for DOGE, $0.00000834 for SHIB, and $0.00000500 for PEPE — can hold. A break of these levels would open the door to a more significant decline.