Meme coin has fallen into a volatile range.
As the price of Bitcoin breaks through the $100,000 mark and enters a volatile range, the overall market sentiment of cryptocurrencies has weakened again, with the meme coin sector being hit the hardest. The three major meme coins, Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), are all facing key support tests on the technical front, and investors need to pay attention to whether a larger price correction will occur.
Dogecoin
DOGE has been performing weakly recently, following a sharp decline of nearly 15% last week, it has seen a rebound this week, with the current price around $0.19. The key support level is around $0.185, and if the daily close falls below this point, attention should be paid to the important support at $0.17. If a short-term rebound occurs, the primary resistance will be in the range of $0.2 - $0.22.
Shiba Inu
SHIB experienced a brief rebound earlier this week, but the upward momentum could not be sustained. The current price has fallen back to around 0.000013 USD, once again approaching the important support of approximately 0.0000126 USD from early May.
If this support is lost, a price correction may occur later, targeting 0.000012 dollars. Meanwhile, if the support holds, a short-term rebound will face a main resistance at 0.0000139 dollars.
Pepe
PEPE has a similar trend to other meme coins, having retreated this week from a high of $0.0000136. Although the current pullback is not significant, the K-line shows an upper shadow, indicating that the bears may still be gathering strength. If the closing price falls below this moving average, the next support could be around $0.000012. If it drops further, the support at $0.0000115 may become a new battleground. If it can successfully build a bottom and rebound, it is expected to challenge the pressure zone formed by the May high of $0.000016.
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Summary
Dogecoin, Shiba Inu, and PEPE are currently in a top-bottom conversion range. Although there may be short-term rebounds in some intervals, the overall market has not yet escaped the weak pattern. We should closely monitor whether key price levels are maintained as a basis for subsequent operations.
