Meme Coins Face Crucial Technical Tests Amid Market Uncertainty

Meme coins are struggling to gain traction as the broader market remains uncertain. Dogecoin (DOGE), Shiba Inu (SHIB), and MemeCore (M) have all reached critical technical zones that could determine their next move.

Despite bearish trends dominating short-term charts, momentum indicators suggest selling pressure may be easing for these coins.

Dogecoin remains trapped in a bearish structure after failing to maintain momentum above a key Fibonacci retracement level. The token trades near $0.0692 while staying below its 20, 50, 100, and 200 exponential moving averages.

However, the Stochastic RSI has started to recover from oversold territory, hinting at improving short-term momentum for DOGE. A move above $0.0706 could encourage a recovery toward $0.0714 before testing the 200 EMA near $0.0727.