Meme Coins Struggle as Dogecoin, Shiba Inu, and Pepe Face Bearish Pressures

Meme coins are under renewed pressure after a weekend pullback, with Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) all showing signs of weakness. The downturn reflects a broader risk-off sentiment in the crypto market, as investors reduce exposure to high-volatility assets.

Capital Outflows Hit Meme Coins

Data from CoinGlass shows open interest in DOGE and SHIB futures slipping by more than 2%, standing at $3.58 billion and $182.98 million, respectively. Pepe’s open interest has fallen more sharply, down over 7% to $596.26 million. The decline in derivatives activity highlights investor caution, with traders pulling back capital while awaiting clearer market signals.

Dogecoin Nears Triangle Pattern Apex

Dogecoin, the largest meme coin with a market cap of $35 billion, continues its decline for the third consecutive day, losing nearly 2% at press time. On the daily chart, DOGE trades within a symmetrical triangle pattern and is approaching the 50-day Exponential Moving Average at $0.2182. A decisive close below $0.2115, near the 200-day EMA, could confirm a bearish breakdown and push prices toward the August 2 low of $0.1909.

Momentum indicators remain neutral. The MACD shows flat movement, while the Relative Strength Index stands at 51, suggesting room for further downside before oversold conditions emerge. A rebound above $0.2407, however, would improve breakout chances and potentially open a path toward $0.2848.

Shiba Inu Tests Key Support

Shiba Inu has slipped below the 50-day EMA, extending its two-day decline with a 1% intraday loss. The token is now targeting local support near $0.00001200 after giving up more than half of Saturday’s short-lived rally. Technical signals suggest weakening momentum, with the RSI sliding below 50 and the MACD nearing a bearish crossover.

A recovery above $0.00001300 could stabilize sentiment, allowing SHIB to retest the 200-day EMA at $0.00001409. Without such a move, further losses remain likely.

Pepe Risks Death Cross Formation

Pepe is also under sustained pressure, falling for the third straight session with a loss of more than 1%. The token now risks forming a Death Cross between the 50- and 200-day EMAs, a technical pattern that often signals extended downside.

Trading near $0.00001000, PEPE faces the threat of losing a critical psychological level. A breakdown could open the way to $0.00000900, while the RSI at 45 shows increasing selling pressure with more room for correction. On the upside, reclaiming the 200-day EMA at $0.00001117 could spark a rebound toward $0.00001266.

Outlook

The meme coin sector continues to face strong headwinds as capital outflows, weak momentum, and bearish technical patterns weigh on prices. Unless DOGE, SHIB, and PEPE can reclaim key resistance levels, the risk of further declines appears elevated in the short term.