📉 $DOGE, $SHIB & $PEPE on Shaky Ground — Bullish Momentum Slips, Key Support Levels in Play
Meme coins are feeling the heat as the broader crypto market faces a downturn. 🧊
🔹 Dogecoin (DOGE) bounced back slightly with a 1% uptick on Tuesday, following a steep 6% dip on Monday. However, momentum remains weak — if DOGE slips below $0.22, it could slide further to the 200-day EMA at $0.2075, signaling a potential end to the current uptrend.
💼 Open Interest in $DOGE
has dropped from $5.35B to $3.96B, reflecting a pullback in trader interest.
Yet, the lower shadow on Tuesday’s candle hints at a possible rebound toward $0.2597.
🔹 Shiba Inu (SHIB) is trying to stay afloat after a 5.65% decline Monday, managing a 1% gain as it holds the 50-day EMA support.
Still unable to break above $0.00001337, SHIB risks further losses if it drops below $0.00001221.
📉 SHIB’s Open Interest also fell sharply from $328.36M to $212.48M, showing fading enthusiasm among traders.
To regain strength, SHIB must reclaim the 200-day EMA at $0.00001449, aiming for a test of $0.00001567, last seen on July 22.
🔹 Pepe (PEPE) is under pressure after a 7% drop Monday, now clinging to the 50-day EMA around $0.00001196.
The 100-day and 200-day EMAs at $0.00001132 and $0.00001122 offer critical support, but if broken, could trigger a deeper fall below $0.00001037.
PEPE's Open Interest shrank from $1.02B to $698.98M, wiping out over $300M in futures positions as traders wait for direction.
A bullish reversal may target $0.00001362, and possibly push toward the psychological barrier at $0.00001500.
🧠 With bearish pressure growing, meme coin holders must keep a close eye on these key levels.