Meme Coins Price Prediction: DOGE, SHIB and PEPE struggle as sellers regain control
- Dogecoin price trades lower on Tuesday after facing rejection near the key daily resistance at $0.088.
- Shiba Inu remains under pressure, trading below $0.0000047 and resuming its downward trend.
- Pepe recovery stalls as momentum indicators continue to weaken.
Meme coins are struggling to extend their recent rebound on Tuesday as bearish momentum re-emerges following the massive correction in the previous week. Dogecoin (DOGE) trades lower after rejecting key resistance; Shiba Inu (SHIB) remains under pressure; and Pepe (PEPE) shows signs of exhaustion. The weakening technical outlook across these meme coins suggests that any short-term recovery could face challenges.
Dogecoin Price Forecast: DOGE faces rejection from the daily resistance level
Dogecoin faced a massive correction, falling over 14% in the previous week, slipping below the February low of $0.080 and reaching a new yearly low of $0.077 on Saturday. DOGE recovered slightly over the next two days and is facing resistance near the daily resistance level of $0.088. As of Tuesday, DOGE is trading lower at $0.086.
If DOGE continues its correction, it could extend the decline toward Saturday’s low of $0.077.
The Relative Strength Index (RSI) on the daily chart reads 31, suggesting conditions are approaching oversold but not yet providing a clear bullish trigger. The Moving Average Convergence Divergence (MACD) indicator on the same chart remains below zero, with the MACD line negative, suggesting bearish momentum is still in play even if recent downside pressure appears less aggressive than in prior sessions.
However, if DOGE closes above the daily resistance at $0.088 on a daily basis, it could extend the advance toward the 50-day Exponential Moving Average (EMA) at $0.098.
Shiba Inu Price Forecast: SHIB bears aiming for deeper correction
Shiba Inu closed below the lower consolidation on May 24, retested this breakdown level last week, and declined by over 14%. SHIB recovered slightly after this correction over the weekend; however, as of Tuesday, it trades lower at $0.0000046.
If SHIB resumes its downward trend, it could extend the correction toward the recent low at $0.0000043.
Like Dogecoin, SHIB’s momentum indicators, RSI and MACD, also support the negative outlook.
On the other hand, if SHIB recovers, it could extend the advance toward the daily resistance at $0.0000050.
Pepe Price Forecast: Weakening momentum hints at further correction
Pepe price closed below the daily support at $0.0000033 last week and declined over 18%. As of writing on Tuesday, it trades in red at $0.0000027.
If PEPE continues its correction, it could extend the correction toward Saturday’s low at $0.0000025.
Like Dogecoin and Shiba Inu, Pepe’s momentum indicators RSI and MACD suggest a bearish outlook.
However, if PEPE recovers, it could extend the recovery toward the daily resistance at $0.0000031.
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