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

• Losses stretch into a seventh consecutive week for Dogecoin, which trades near $0.0675 on Thursday at a three-year low.
• With selling momentum easing, Shiba Inu trades just above a key horizontal support level.
• A rising support trendline comes into view as Pepe steadies following the previous day’s 16% fall.

Selling pressure persists across meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), reflecting the risk-off mood in the wider cryptocurrency market. This week, Bitcoin (BTC) fell below $75,000 as elevated US inflation readings compounded last week’s uncertainty about tighter regulation following the Democrats’ midterm victory.

During past bear market cycles, Bitcoin declines have often triggered steeper falls in Dogecoin and other meme coins. PEPE, however, has demonstrated longer-term resilience: its Year-to-Date (YTD) loss stands at just 7%, compared with declines of over 40% for DOGE and SHIB. 

With macroeconomic worries continuing to weigh on Bitcoin, further losses remain a risk for meme coins. As sellers strengthen their hold, the technical picture for DOGE, SHIB, and PEPE puts key support zones under scrutiny.

Dogecoin technical outlook: Could the falling-knife sell-off deepen?

A distinctly bearish trend remains intact for Dogecoin as its slide enters a seventh consecutive week and takes it to a three-year low. Prices remain well beneath the 50-day Exponential Moving Average (EMA) at $0.0785 and the 200-day EMA at $0.0885.

Technical momentum also favours sellers. The Moving Average Convergence Divergence (MACD) holds below zero, while the Relative Strength Index (RSI) trades close to 30, signalling sustained downward pressure and early indications that oversold conditions are approaching.

Measured against 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 nearing. A confirmed break beneath this area could bring the 200% level at $0.0580 into view, implying downside risk of more than 10%.

Any recovery would first encounter resistance near the 100% Fibonacci retracement at $0.0784 and the 50-day EMA at $0.0785. Beyond that cluster, the 200-day EMA at $0.0885 presents the next barrier.

Shiba Inu technical outlook: Can key support withstand bearish pressure?

Following the previous day’s 2% fall, Shiba Inu is finding stability near $0.00000436 on Thursday. This pause comes within a persistent six-week downtrend that has produced a cumulative loss of over 25%.

Daily momentum readings suggest downward pressure is stabilising. The MACD and its signal line are drawing together below zero as the negative profile diminishes, while the RSI continues to track sideways at 34, just above oversold territory.

Using the mid-September rise from $0.00000474 to $0.00000627, the Fibonacci retracement identifies immediate support at the 127.2% retracement level of $0.00000432. This stands ahead of the 161.8% extension at $0.00000379.

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

Pepe technical analysis: Will support hold after the sharp bearish momentum shift?

Following the previous day’s 16% loss, PEPE was steady near $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 turned momentum bearish: the MACD moved beneath its signal line, and the RSI slipped through its midpoint to 47.

For the frog-themed meme coin, the least-resistant route points lower towards the $0.0000043 support area. A confirmed break beneath this mark would overturn the uptrend underpinned by the ascending trendline, exposing the 8 October low of $0.00000364.

To extend its uptrend, Pepe needs to regain the psychological mark of $0.00000500 and then surpass the 29 October high at $0.00000568.

(An AI tool assisted in preparing the technical analysis in this article. Learn more.)