Dogecoin News Today: Meme Coins Teeter at Key Support Levels as Bearish Indicators Intensify

Meme coins including Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) face renewed selling pressure as whale activity wanes and technical indicators signal deteriorating market sentiment. The trio, which had briefly rebounded amid retail-driven optimism last week, now trade near critical support levels amid declining futures open interest and bearish momentum metrics, according to an FXStreet report.

CoinGlass data reveals a sharp contraction in futures open interest (OI) for the three tokens over the past week. DOGE's OI fell 3% to $1.75 billion, SHIB dropped 12% to $78.52 million, and PEPE slid 9% to $242.12 million, the FXStreet report added. The retreat follows a short-lived rally spurred by Bitcoin's ascent above $115,000, which briefly reignited retail demand, as noted in a separate FXStreet article. However, the absence of large holder accumulation—typically a stabilizing force for speculative assets—has left these coins vulnerable to broader market corrections.

Dogecoin, currently trading at $0.18000, tests its monthly support level of $0.17816 after four consecutive days of losses, the FXStreet report said. A breakdown below this threshold could accelerate the decline toward $0.14270, a level last seen in June. Technical indicators compound the bearish outlook: the 50-day EMA has crossed below the 200-day EMA, forming a "Death Cross" pattern, while the RSI at 39 and MACD near the signal line suggest weakening buying pressure. Traders are now watching whether DOGE can retest the $0.20869 resistance, marked by an August low, to invalidate the bearish narrative.

Shiba Inu, up 1% at $0.00001000 as of Friday, struggles to reclaim the $0.00001000 psychological level despite a rebound from the October 17 low of $0.00000924, the FXStreet piece noted. The token's 4-hour chart shows mixed signals: while the MACD approaches a bullish crossover, the RSI at 42—a V-shaped recovery from oversold territory—hints at uneven momentum. Key resistances lie at the 50-period and 200-period EMAs ($0.00001015 and $0.00001085), which could cap gains if bulls fail to sustain the rally.

Pepe, up 2% to $0.00000645, clings to the S2 Pivot Point, a level that has held since October 11, according to the FXStreet analysis. A close below this support could trigger a freefall toward $0.00000653 and the March 11 low of $0.00000404. Technical indicators are bearish: the RSI at 36 hovers near oversold levels, while the MACD's bearish divergence raises the risk of a crossover. A rebound to the S1 Pivot Point at $0.00000788 remains a distant prospect unless buyers step in.

The broader crypto market's mixed performance adds uncertainty. While Bitcoin's recovery briefly boosted meme coin activity, institutional players remain cautious. A spot Dogecoin ETF application by 21Shares has yet to materialize, and open interest for DOGE futures has plummeted 65% from October's peak, according to a Coinotag analysis. Analysts note that volume recovery above $2 billion could signal renewed confidence, but current metrics suggest liquidity remains fragmented.

The path forward for these meme coins hinges on three factors: stabilization of open interest, a rebound in retail-driven volume, and a breakout above key resistance levels. For now, the technical landscape favors bears, with DOGE's $0.17816, SHIB's $0.00001000, and PEPE's $0.00000645 serving as critical junctures. A failure to hold these levels could deepen the correction, while a sustained rebound above them might reignite speculative fervor—provided macroeconomic conditions and institutional adoption signals improve, the FXStreet report concluded.