Meme Coin Bloodbath Continues: DOGE Meme Tokens Face Deeper Pressure as Technical Indicators Flash Red Across the Board

Dogecoin and other meme coins are enduring a brutal stretch, with seven consecutive days of selling erasing the brief momentum from early January. The broader meme token ecosystem—anchored by DOGE, Shiba Inu (SHIB), and Pepe (PEPE)—is showing signs of weakness that go beyond normal consolidation, as key technical barriers begin to crumble.

DOGE Meme Sentiment Hits Rough Waters

The most recognizable meme coin, Dogecoin, is currently trading around $0.14, down 1.96% over the last 24 hours. After dropping below the 50-day moving average at $0.1427, the price has retreated toward the $0.1332 support level—a zone that previously provided a floor in mid-December before reversing upward.

The technical picture has deteriorated noticeably. The RSI has fallen to 48, signaling that selling pressure is now dominant and momentum is tilting bearish. More concerning, the MACD is approaching its signal line, positioning for a potential bearish crossover that would confirm renewed downside momentum. Should DOGE lose the $0.1332 floor, the next major support drops significantly to $0.1161.

On the recovery side, even if buyers manage to stabilize around current levels, reclaiming $0.1427 would be needed before any meaningful bounce toward $0.1568 becomes possible.

Shiba Inu Hangs on by a Thread

Shiba Inu is fighting to maintain its footing just above the 50-day EMA at $0.00000834. After sliding for seven straight sessions alongside the broader meme coin downturn, SHIB is showing faint signs of stabilization—though the foundation remains shaky.

The momentum indicators reveal fading conviction among buyers. The RSI at 53 is creeping back down from overbought levels, a telltale sign that the initial surge has lost its power. The MACD, too, is declining and risks dropping below its signal line, which would unlock another round of selling.

If the 50-day EMA fails to hold, the $0.00000678 level (October 10 low) becomes the next line of defense. A successful hold above the current support could eventually allow SHIB to target $0.0000956.

Pepe’s Sell Signal Marks a Dangerous Turning Point

Pepe has slipped below positive momentum with the MACD already flashing a sell signal after crossing below its signal line. Trading near $0.00000500, PEPE is caught in the undertow of the seven-day selloff that wiped out gains from early January.

The RSI at 55 has collapsed from overbought territory, indicating that bullish enthusiasm has evaporated faster than it accumulated. Without a shift in sentiment, PEPE could easily test the 50-day EMA at $0.00000528—and if that breaks, a further decline toward $0.00000738 is on the radar, though recovery attempts could face resistance at $0.00000650.

The Bigger Picture: When Do Meme Coins Find a Bottom?

Meme tokens have been pinned under heavy selling with no obvious catalyst stepping in to spark a reversal. The lack of positive momentum across the broader crypto market means buyers are sitting on the sidelines, content to wait for clearer signals before re-entering.

What’s particularly telling is how uniform the weakness has been across DOGE, SHIB, and PEPE. Technical support levels that previously held firm are now being tested repeatedly, and in some cases, broken. The crossover of MACD signals across all three tokens points to a genuine shift in momentum rather than a temporary dip.

For the meme coin sector to stabilize, we’ll need to see either a broader rally in Bitcoin and Ethereum providing cover fire, or a period of consolidation that allows these heavily-sold tokens to rebuild their technical foundations. Until then, expect the downside pressure to persist.