Meme Coins Face Brutal Week: Dogecoin, SPX6900, Fartcoin Plummet

Meme coins faced a challenging week as market conditions turned bearish, with even Bitcoin dipping to $95,700. Altcoins extended their downtrend, leading to significant losses for investors. This week, we analyzed three meme coins that once stood out as top performers but are now undergoing substantial corrections.

Dogecoin (DOGE), the largest meme coin, experienced a sharp 25% decline, reaching a two-and-a-half-month low of $0.248. The price fell through the critical support of $0.268, signaling increased bearish pressure. With investor sentiment weakening, DOGE faces the risk of extended downside unless buyers step in. The next key support for Dogecoin is at $0.220, a level that could determine its short-term trajectory. If the price reaches this support, investors may begin selling off their holdings to minimize losses, potentially pushing DOGE lower and further extending its downtrend.

A reversal remains possible if Dogecoin manages to reclaim the $0.268 support level. Flipping this resistance into support could fuel a recovery, allowing DOGE to aim for $0.311 and beyond. This would invalidate the bearish outlook and restore investor confidence.

SPX6900 (SPX) suffered a significant correction, declining 50% over the past week to trade at $0.642 at the time of writing. The steep drop has put the meme coin under intense selling pressure, raising concerns among investors. Despite the decline, SPX continues to hold above a key support level. Currently maintaining support at $0.568, SPX remains vulnerable to consolidation within a narrow range. Historically, the meme coin has struggled to break above $0.759, delaying any meaningful recovery. If price action remains subdued, SPX could continue fluctuating between these levels, making a strong rebound less likely in the short term.

A bullish reversal could occur if SPX flips the $0.759 resistance into support. This shift would signal renewed buying interest, allowing the meme coin to push toward $0.91. A breakout above this level would invalidate the bearish outlook.

Fartcoin (FARTCOIN) experienced a steep 58% decline this week, trading at $0.4