Will DOGE, SHIB and PEPE Find Support? Meme Coin Rally Fades Under Sustained Selling

Seven consecutive days of decline have left the meme coin complex battered, with Dogecoin, Shiba Inu, and Pepe all fighting to maintain key technical levels as bears maintain firm control. The lack of fresh buying catalysts across the broader crypto landscape has deepened the malaise, forcing traders to reassess positions.

Market Breadth Deteriorates Across Meme Tokens

The broader meme token ecosystem is experiencing a significant downturn following the brief rally that peaked on January 4. With institutional appetite waning and retail interest showing signs of fatigue, three of the sector’s most prominent players—Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE)—are now locked in a battle to hold ground. Technical indicators across all three tell a similar story: momentum is reversing, and sellers have taken command.

Dogecoin Retreats but Defends Critical Support Zone

Trading near $0.14 as of mid-January, Dogecoin has fallen below its 50-day Exponential Moving Average (EMA) at $0.1427 after the recent sell-off. The cryptocurrency is now consolidating around the November 21 low at $0.1332, a level that previously acted as overhead resistance before flipping to support.

The technical picture suggests DOGE is approaching a crossroads. On the positive side, holding $0.1332 could pave the way for a bounce toward the 50-day EMA and potentially the November 26 high at $0.1568. However, the momentum backdrop is decidedly bearish. The daily RSI has compressed to 48, dipping below the neutral 50 mark—a clear sign that selling pressure is outpacing buying interest. Adding to the concern, the MACD is converging with its signal line and threatening a bearish crossover that would confirm downside momentum. Should DOGE lose $0.1332, the next support rests at the December 31 low of $0.1161.

Shiba Inu Tested at Key Moving Average

Shiba Inu is engaged in a delicate balancing act, clinging to the 50-day EMA at $0.00000834 after a seven-session decline. The token showed signs of steadying near this level, but conviction remains fragile as buyers retreat to the sidelines. An RSI reading of 53 that is gradually sliding from overbought conditions signals waning bullish enthusiasm. The MACD’s descent toward the signal line heightens the risk of a sell crossover, which would amplify bearish pressure.

If SHIB can hold its current footing at the EMA, upside targets include the October 11 low at $0.0000956. Conversely, a breakdown would expose the October 10 low at $0.00000678 as the next floor.

Pepe Pressured by Bearish Technical Setup

Pepe has retreated from its early January highs and is now hovering above the $0.00000500 psychological support level. The critical headwind here is the MACD sell signal that emerged after the indicator dipped below its signal line. With the RSI at 55 and falling sharply from elevated readings, the momentum shift is unmistakable—bullish pressure has stalled.

The 50-day EMA at $0.00000528 represents the next defense. If Pepe holds there, a recovery could carry it toward the $0.00000650 resistance zone and then the 200-day EMA at $0.00000738. Any broader stabilization in DOGE and SHIB would likely provide tailwinds for a PEPE rebound, though near-term momentum remains subordinate to selling flows.

What’s Next for Meme Coins?

The technical damage across all three tokens is real, and traders should watch closely for whether support levels hold or crumble. Until momentum indicators show signs of a genuine reversal, the weight of recent selling will likely continue to pressure prices lower.