Memecoins Face Prolonged Bearish Trend as DOGE, SHIB, PEPE Slip

Published: 2025-06-21 17:36:27 |

Memecoins Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe Coin (PEPE) have entered a sustained bearish trend, testing critical support levels after steep corrections. Technical indicators show all three tokens trading below their 50-day and 200-day EMAs, with Relative Strength Index (RSI) readings in oversold territory: DOGE at 34.5, SHIB at 34.7 and PEPE at 39.6. Memecoins are struggling to break key resistance zones—$0.25 for DOGE, $0.000012 for SHIB and the 50-day EMA for PEPE—while failure to hold support may trigger further declines toward $0.10 for DOGE, $0.000010 for SHIB and $0.0000052 for PEPE. Market sentiment remains cautious despite loyal communities and past rallies, as low trading volumes and bearish EMA crossovers suggest selling pressure may persist. Traders should watch for trendline breaks and potential RSI divergences as early signals of a memecoin rebound. Upcoming catalysts, such as broader altcoin season momentum or major endorsements, could spark temporary recoveries but must be backed by volume to sustain gains. In the near term, memecoins are positioned for further downside unless they reclaim key technical levels. Long-term prospects hinge on community engagement, external market conditions and on-chain developments. Investors should combine technical analysis with sentiment tracking to navigate this volatile memecoin landscape.

Bearish

This analysis categorizes the news as bearish because all three leading memecoins—DOGE, SHIB and PEPE—are under sustained selling pressure, trading below both 50-day and 200-day EMAs with oversold RSI levels. Historical patterns show that EMA death crosses and low volume often precede extended downtrends, as seen during previous memecoin corrections in mid-2022 and early 2024. Short-term price action suggests further downside risk unless critical support holds or a spike in trading volume reverses sentiment. Long-term recovery remains possible if broader altcoin momentum returns and community-driven catalysts emerge, but immediate outlook favors continued declines.