Meme Coins Hit Bearish Trend as Dogecoin, Shiba Inu, and Pepe Struggle

Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) are losing momentum, signaling a bearish trend in the crypto market. According to recent data, DOGE is trading near $0.08077 and needs to reclaim $0.08353 to ease pressure and target higher resistance. SHIB, on the other hand, faces deeper losses if its support zone breaks decisively at $0.00000494-$0.00000498.

PEPE holds its 20-day EMA but weak capital flows continue to limit its recovery. The three meme coins are entering a crucial phase, with their recent recoveries losing steam across daily charts. DOGE trades below several key exponential moving averages and tests major Fibonacci areas near $0.00000500.

The market sentiment and liquidity are at risk due to these token performance signals, increasing trading risk on CEX and DEX and posing headwinds for adoption. The crypto market is closely watching the movements of these meme coins as their price action can significantly impact the overall sentiment.