The meme coin market is facing intense selling pressure as traders brace for deeper corrections. Indicators flash sell alarms, and bearish bets rise across the board. Hereโs the full picture:
๐ถ Dogecoin (DOGE)
Down 2% today, extending its 5% decline since Monday.
Now testing the 50-day EMA ($0.2163). A decisive breakdown here could drag DOGE to $0.2100 (200-day EMA).
The MACD sell signal confirms rising negative momentum, while RSI has slipped to 43, showing fading buying strength.
If DOGE rebounds, a retest of $0.2407 (Sunday high) is possible, but failure at the EMA spells more downside.
๐ Shiba Inu (SHIB)
Under pressure inside a triangle formation, now nearing the support trendline at $0.00001244.
A decisive daily close below would invalidate the triangle, opening doors to $0.00001166 support.
Currently, taker buy-to-sell ratio shows 57% shorts, highlighting bearish trader dominance.
If SHIB bounces, it could retest the 50-day EMA at $0.00001304, but momentum remains fragile.
๐ธ Pepe (PEPE)
Fell 1% today, adding to a 3.96% drop from Monday.
Risks a symmetrical triangle breakdown, threatening the psychological $0.00001000 level, with downside to $0.00000986.
To regain bullish footing, PEPE must reclaim the 200-day EMA ($0.00001120).
Like DOGE & SHIB, MACD sell signal is active, hinting that bears are steering momentum.
๐ Market Sentiment
CoinGlass data shows rising short positions across DOGE, SHIB, and PEPE, cementing sell-side dominance.
In the last 24 hours, 55%+ of trades leaned bearish, a clear reflection of the risk-off mood spreading in meme coins.
โก Summary: Meme coins are in a tough spot. DOGE risks breaking its EMA support, SHIB battles triangle survival, and PEPE faces psychological pressure. Unless bulls reclaim momentum fast, the path of least resistance remains downward.
#DOGE DOGE #SHIB #PEPE #Memecoins๐ค๐ค
$DOGE $SHIB $PEPE ๐จ
