Meme Coin Market Pulls Back Amid Profit-Taking

The meme coin market is experiencing a pullback after last week's double-digit gains. Dogecoin (DOGE) and Pepe (PEPE) are showing signs of losing their bullish momentum, while Shiba Inu (SHIB) remains at a key support level.

According to technical analysis, DOGE is capped below the $0.1000 psychological level, trading around $0.0860 at press time on Wednesday. A confirmed breakout above the 200-day Exponential Moving Average (EMA) at $0.0956 and $0.1000 could reinstate its upward trend, potentially targeting the $0.1161 supply zone.

Shiba Inu, however, is holding a key support level after two consecutive days of losses. A potential rebound in SHIB must confirm the 78.6% retracement breakout at $0.00000602 to open the path toward the $0.00000670 swing high.