Meme Coins Stall Amid Key Resistance Levels
Dogecoin and other meme coins are struggling to gain momentum as they face key resistance levels. Despite recent gains, Dogecoin is trading around $0.095 on Monday, below its psychological barrier of $0.1000. The meme coin's technical outlook remains mixed, with prices above their 200-day Exponential Moving Average (EMA) but waning momentum.
The SOV value data shows DOGE-focused Exchange Traded Funds (ETFs) recorded $2.89 million in inflows last week, marking the largest weekly net inflow since inception. This renewed institutional interest may suggest long-term upside for Dogecoin. However, its recent 11% rally is being capped below the $0.1000 level.
Meanwhile, Shiba Inu and Pepe are also experiencing a mild pullback, with SHIB trading below $0.00000600 and PEPE hovering above $0.00000400. Both meme coins face key resistance levels that could impact their potential for further gains.