- Dogecoin, Shiba Inu, and PEPE have plunged sharply amid rising Middle East tensions, with technical indicators signaling further downside risks.
- All three meme coins are trading below key support levels, and a continued sell-off could push them to new monthly or even yearly lows.
Technical Indicators Warn of Further Losses as Meme Coin Market Cap Plunges 10%
The memecoin market is reeling as Dogecoin (DOGE), Shiba Inu (SHIB), and PEPE suffer sharp losses following escalating Middle East tensions. The broader crypto market’s risk-off sentiment has triggered a nearly 10% drop in meme coin market capitalization, with technical indicators flashing further downside risks.
Dogecoin Slips Below $0.20, Faces $0.16 Test
Dogecoin, the largest meme coin by market cap, is down nearly 9% in the last 24 hours, extending a three-day decline totaling over 15% from its recent high of $0.2067. Currently trading at $0.1738, DOGE risks forming a new monthly low if it breaches the $0.1624 support.
The MACD shows sustained bearish momentum, while the RSI sits at 37—hovering near oversold territory. Although a double bottom pattern could hint at a bullish divergence, a close below $0.1642 may invalidate this setup and open the path to $0.1422.
Also read: Sui Price Prediction: Triangle Breakdown Threatens Drop Below $2.57 Amid Falling TVL and Open Interest
Shiba Inu Sinks to Monthly Low as Sellers Dominate
Shiba Inu has fallen 4% in the last 24 hours, marking a new 30-day low of $0.00001138. Rejected from a long-standing resistance trendline, SHIB remains locked in a steep bearish reversal.
With the MACD histogram deepening below the zero line and RSI collapsing below 50, selling pressure continues to mount. A close below $0.00001150 could send SHIB to its year-to-date low of $0.00001029. Bulls must reclaim the 50-day EMA at $0.00001347 to shift the tide.
PEPE Breaches 200-Day EMA, Eyes Sub-$0.00001 Breakdown
PEPE is the worst-hit among the trio, sliding over 20% in just three days. It now hovers near the $0.00001037 level—threatening a drop below the psychological $0.00001000 barrier.
Technical outlook shows increased bearish strength, with the MACD printing fresh red bars below zero and RSI plunging toward oversold territory at 41. If the $0.00001000 level breaks, PEPE could revisit April’s low at $0.00000900.
With mounting geopolitical risks and growing market fear, Dogecoin, Shiba Inu, and PEPE face extended downturns. Traders should brace for more volatility unless key resistance levels are reclaimed.
