Meme Coins Price Prediction: A floor remains elusive for Dogecoin, Shiba Inu, and Pepe

• At around $0.0675 on Thursday, Dogecoin reaches a three-year low as losses stretch into a seventh consecutive week.
• With downward momentum easing, Shiba Inu trades just above a key horizontal support level.
• Following the previous day’s 16% fall, Pepe steadies as attention turns to a rising support trendline.

Hot US inflation reports helped push Bitcoin (BTC) below $75,000 this week, compounding last week’s uncertainty about tighter regulation following the Democrats’ midterm victory. Against this risk-off backdrop across the cryptocurrency market, meme coins including Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) remain under selling pressure.

During past bear market cycles, Bitcoin declines have frequently been followed by steeper losses in Dogecoin and other meme coins. PEPE has nevertheless proved resilient over the longer term: its year-to-date (YTD) loss stands at just 7%, compared with declines of over 40% for DOGE and SHIB. 

Macroeconomic concerns continue to weigh on Bitcoin, leaving meme coins exposed to further declines. As sellers strengthen their hold, the technical picture for DOGE, SHIB, and PEPE puts several key support zones in the spotlight.

Dogecoin technical outlook: Falling-knife decline signals scope for further losses

A seventh successive weekly decline has taken Dogecoin to a three-year low, reinforcing its bearish trend. At $0.0785 and $0.0885 respectively, the 50-day and 200-day exponential moving averages (EMAs) both remain well above the meme coin’s price.

Below-zero readings in the Moving Average Convergence Divergence (MACD) indicate that momentum remains tilted to the downside. Meanwhile, the Relative Strength Index (RSI) sits close to 30, suggesting sustained selling pressure and early indications that oversold conditions are approaching.

Using the mid-September advance from $0.0784 to $0.1058, the Fibonacci retracement places immediate support at the 161.8% extension of $0.0651, which the price is approaching. Should a break beneath this area be confirmed, the 200% level at $0.0580 could become the next target, implying downside risk of more than 10%.

Any recovery would first encounter a resistance cluster formed by the 100% Fibonacci retracement at $0.0784 and the 50-day EMA at $0.0785. Further up, the 200-day EMA at $0.0885 presents another hurdle.

Shiba Inu technical outlook: Sellers put key support under pressure

After losing 2% the previous day, Shiba Inu steadies near $0.00000436 on Thursday. Its sustained downtrend over the past six weeks has produced a cumulative loss of over 25%.

On the daily chart, the MACD and its signal line are converging below zero as the negative momentum profile fades, indicating that downward pressure is stabilising. The RSI, meanwhile, continues to track sideways at 34, just above oversold territory.

Measured against the mid-September rise from $0.00000474 to $0.00000627, the 127.2% Fibonacci retracement at $0.00000432 provides the nearest support. Below that lies the 161.8% extension at $0.00000379.

Should Shiba Inu recover, $0.00000474 could be its first target. A break above that level could clear the way towards the psychological threshold of $0.00000500.

Pepe technical analysis: Steep retreat turns momentum bearish

After the previous day’s 16% drop, PEPE held steady at around $0.00000460. The retreat is nearing rising trendline support around $0.00000425, drawn through the lows of 11 September and 8 October. A horizontal level at $0.00000423, corresponding to the 21 August high, adds support nearby.

Wednesday’s 16% fall shifted momentum in favour of sellers: the MACD slipped beneath its signal line, while the RSI fell through its midpoint to 47.

For the frog-themed meme coin, the least-resistance path points towards the $0.0000043 support area. A confirmed break below it would overturn the upward trend underpinned by the ascending trendline, bringing the 8 October low of $0.00000364 into view.

To sustain further gains in its upward trend, Pepe first needs to recover the psychological $0.00000500 level and then the 29 October high at $0.00000568.

(The technical analysis of this story was written with the help of an AI tool. Know more.)