DOGE Meme Rally Stalls: Why Dogecoin, Shiba Inu and Pepe Are Facing Intense Downside Pressure

Meme coins have hit a rough patch. After the January 4 rally, Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) have now logged seven consecutive down days, with selling pressure intensifying across the entire segment. As buyers step back and broader crypto market catalysts remain scarce, these tokens are approaching critical support levels that could determine whether the recent uptrend survives or collapses further.

The Broader Meme Coin Selloff: Buyers Losing Ground

The pullback in DOGE meme coins reflects a fundamental shift in market dynamics. After bouncing sharply on January 4, the momentum has completely reversed. Without fresh buying interest and facing mounting selling pressure, the trio now sits precariously above key technical support zones. What makes this particularly concerning is the absence of a near-term narrative to reignite buying interest — leaving these assets vulnerable to deeper declines.

Dogecoin at a Crossroads: Can DOGE Hold the Critical Floor?

Dogecoin is currently trading near $0.14, according to the latest data, down 1.59% over the past 24 hours. The recent pullback has pushed DOGE through the 50-day Exponential Moving Average (EMA) at $0.1427, a level that previously offered support. Price is now sitting dangerously close to the November 21 low at $0.1332 — a floor that flipped from resistance to support after the December mid-month bounce.

The technical picture looks increasingly bearish. DOGE’s daily Relative Strength Index (RSI) has slipped to 48, crossing below the 50 midpoint and signaling that sellers now have the upper hand. More critically, the Moving Average Convergence Divergence (MACD) is edging toward its signal line, threatening a bearish crossover that would confirm downside momentum. If DOGE meme buying interest doesn’t return soon, a breakdown below $0.1332 would open the door to the December 31 low at $0.1161 as the next support target.

On the upside, a recovery would need to reclaim the 50-day EMA at $0.1427 first, followed by the November 26 high at $0.1568, which previously capped the January 6 rally.

Shiba Inu Teeters on Support, But Conviction Is Fading

Shiba Inu is clinging to the 50-day EMA at $0.00000834 after seven days of selling, but the technical setup suggests trouble ahead. The daily RSI sits at 53 and is rolling over from previously overbought levels — a clear sign that buying pressure is evaporating. The MACD is also declining and approaching a bearish crossover below its signal line, which would reinforce the downtrend.

If SHIB fails to defend $0.00000834, support drops to the October 10 low at $0.00000678. Conversely, if buying interest resurfaces and the 50-day EMA holds, SHIB could work toward the October 11 low at $0.0000956 (correcting the earlier reference point).

The challenge for SHIB is clear: momentum indicators are weakening just as price approaches a critical support zone, leaving little room for error.

Pepe Under Pressure: MACD Sell Signal Weighs on Price Action

Pepe is trading above the $0.00000500 psychological level but facing fresh headwinds from a MACD sell signal. The indicator crossed below its signal line after the January 3-4 bounce unwound over the past week, confirming renewed selling interest. With a 24-hour decline of 8.02%, PEPE is showing the most weakness among the three.

The daily RSI at 55 has tumbled sharply from overbought readings, indicating that bullish conviction has dissipated rather than strengthened. This suggests that any recovery attempt is likely to face heavy selling.

Support sits at the 50-day EMA at $0.00000528, below which traders should watch for breaks toward deeper lows. If broader DOGE meme coin sentiment shifts back to bullish, PEPE could retest the $0.00000650 supply zone and potentially the 200-day EMA at $0.00000738 on the upside.

What’s Next: Critical Juncture for Meme Coins

All three meme coins now face a decisive moment. The technical setup — with RSI indicators declining, MACD sell signals flashing, and prices hovering above key support zones — suggests that conviction behind the recent bounce has dried up. Dogecoin, Shiba Inu, and Pepe will need to demonstrate that buyers are willing to defend current levels or risk a sharper sell-off. Until then, the path of least resistance remains lower.