Meme Coins Face Crucial Test as Buying Pressure Fades

The meme coins Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) are showing constructive daily structures despite recent pullbacks. $DOGE trades above its major moving averages, while $SHIB and $PEPE hold important Fibonacci levels.

However, momentum indicators show that buying pressure has weakened after recent rallies, putting traders in a crucial test between renewed breakouts and deeper retracements.

$DOGE needs to reclaim $9.80 before challenging $10.00 again, while $SHIB must defend the $0.000005545-$0.000005635 zone to preserve its recovery. Meanwhile, $PEPE needs to hold $0.000004283 for its bullish structure to remain intact.

The broader daily trend remains intact for Dogecoin, which currently trades near $9.52 after facing rejection around the $10.00-$10.10 resistance zone. Price remains above the 20-day, 50-day, and 100-day EMAs, but a break below $9.18 could expose $8.93 and potentially the $8.75-$8.40 support region.