Meme Coins Face Crucial Tests as Buying Pressure Weakens

The meme coins Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) have maintained a constructive daily structure despite recent pullbacks. This is evident from their technical charts, which show that they are still trading above key moving averages. However, momentum indicators suggest that buying pressure has weakened after the recent rallies.

The DOGE price currently trades near $9.52 after facing rejection at the $10.00-$10.10 resistance zone. It remains above its major moving averages, including the 20-day, 50-day, and 100-day EMAs. The Stoch RSI shows cooling momentum, indicating that a renewed breakout is needed to challenge higher levels.

For DOGE to reclaim $9.80 and challenge $10.00 again, it needs to overcome its current weakness. A move above $9.80 could reopen the path toward $10.00-$10.10, but failure to do so could send DOGE toward $9.30 and $9.18.

The SHIB price trades near $0.000005761 after retreating from the $0.000005864 Fibonacci 0.786 resistance. It remains above its major moving averages and continues to trade near the 200-day EMA around $0.000005635, which now represents an important dividing line for its current structure.

The PEPE price trades around $0.000004428 after breaking higher from its previous $0.0000032-$0.0000036 consolidation range. Its daily structure remains bullish, but short-term momentum has weakened following the latest advance.