Hassan Maishera
Meme coins are losing steam on Tuesday as the broader recovery attempt fades, with Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) all showing renewed weakness following last week’s sharp correction.
Technical indicators across the sector suggest that downside pressure may still dominate in the near term, even as some assets approach oversold conditions.
Dogecoin (DOGE) Price Forecast: Rejection at Key Resistance
Dogecoin faced a steep correction last week, dropping more than 14% and slipping below its February low of $0.080 before printing a new yearly low at $0.077 on Saturday.
Although DOGE staged a modest recovery over the weekend, it has since encountered resistance near $0.088 and is trading slightly lower at $0.086 as of Tuesday.
If bearish momentum continues, DOGE could retest its recent low at $0.077. A breakdown below this level may signal further downside risk.
Momentum indicators show early signs of exhaustion in selling pressure, but not yet a reversal signal.
The Relative Strength Index (RSI) sits at 31, indicating near-oversold conditions. The MACD remains below zero, confirming continued bearish momentum.
A sustained breakout above $0.088 would be required to shift short-term sentiment, with potential upside toward the 50-day EMA near $0.098.
Shiba Inu (SHIB) Price Forecast: Bearish Structure Intact
Shiba Inu continues to face downside pressure after breaking below a key consolidation zone on May 24 and retesting that level before dropping more than 14%.
The token saw a brief rebound over the weekend, but has since resumed weakness, trading around $0.0000046 on Tuesday.
If selling pressure persists, SHIB may revisit its recent low at $0.0000043. A recovery above resistance near $0.0000050 would be needed to stabilize short-term sentiment.
Like Dogecoin, SHIB’s technical indicators remain tilted to the downside. RSI and MACD both indicate continued bearish momentum. Recovery attempts remain weak and unconvincing so far
Despite brief recovery attempts, the broader meme coin market continues to struggle with sustained bullish momentum. Dogecoin, Shiba Inu, and Pepe all remain structurally weak, with traders watching key support levels for signs of either stabilization or deeper correction.
