Meme coins lose momentum 🐶🐸 - Dogecoin, Shiba Inu, and Pepe continue their decline
Dogecoin began its drop on Monday after falling by 10% last week.
Below the 50-day exponential moving average, Shiba Inu's price faces the risk of further decline.
Pepe's price has decreased with weak momentum indicators.
On Monday, meme coins Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) continued their losses after previous corrections. Technical forecasts for these coins indicate larger losses in the coming days.
Dogecoin Price Forecast: Losses Continue
Dogecoin's price corrected at its daily resistance level of $0.311 on September 13, falling by 8% over the next two days to reach a support level of around $0.256. Dogecoin slightly recovered but fell by 6.20% last week. Starting Monday, it dropped by 10% and is trading at a level below $0.239. Dogecoin may continue to decline below its next daily support at $0.200 if it closes below its 50-day exponential moving average (EMA) at $0.238.
Dogecoin may bounce back to the daily resistance level of $0.311 if it finds support around its 50-day exponential moving average at $0.238.
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