Meme Coins Price Prediction: Dogecoin, Shiba Inu, and Pepe have yet to find a floor

Meme coins, including Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), continue to attract sellers as the broader cryptocurrency market maintains a risk-off sentiment. Bitcoin (BTC) slipped below $75,000 this week amid hot US inflation reports, adding to last week’s uncertainty over tighter regulation as Democrats won the midterms.

Historically, slips in Bitcoin during bear market cycles often lead to sharper pullbacks in Dogecoin and other meme coins. However, PEPE shows long-term resilience, with a Year-to-Date (YTD) decline of just 7%, while DOGE and SHIB are down over 40%. 

Still, with macroeconomic concerns looming over Bitcoin, the meme coins remain vulnerable to deeper losses. The technical outlook for DOGE, SHIB, and PEPE highlights key support areas in focus, as sellers tighten their grip.

Dogecoin technical outlook: Falling-knife move warns of further downside potential

Dogecoin extends its decline for the seventh straight week to a three-year low, maintaining a clear bearish tone. The meme coin sits well below both the 50-day and 200-day Exponential Moving Averages (EMAs) at $0.0785 and $0.0885, respectively.

Momentum indicators show a downside bias, with the Moving Average Convergence Divergence (MACD) remaining below zero, while the Relative Strength Index (RSI) hovers near 30, hinting at persistent downside pressure and early signs of approaching oversold conditions.

The Fibonacci retracement of mid-September's upswing from $0.0784 to $0.1058 shows the price approaching the 161.8% extension level at $0.0651, which serves as the immediate support. A confirmed breakout below this zone could target the 200% level at $0.0580, hinting at more than 10% downside risk.

On the topside, initial resistance is clustered around the 100% Fibonacci retracement at $0.0784 and the 50-day EMA at $0.0785, with a higher barrier at the 200-day EMA at $0.0885.

Shiba Inu technical outlook: Bears threaten a key support level

Shiba Inu hovers around $0.00000436 on Thursday, stabilizing after a 2% decline the previous day. The meme coin has maintained a steady downward trend over the past six weeks, with a total decline of over 25%.

Momentum on the daily chart shows stabilizing downside pressure as the MACD and signal line converge in negative territory, with a declining, waning negative profile, while the RSI at 34 continues to move sideways just above the oversold territory.

The Fibonacci retracement over mid-September's upswing from $0.00000474 to $0.00000627 highlights the 127.2% Fibonacci retracement at $0.00000432 as the immediate support, guarding the 161.8% extension level at $0.00000379.

A potential rebound in Shiba Inu could target the $0.00000474 level, a breakout above which could pave the path toward the $0.00000500 psychological level.

Pepe technical analysis: Sharp pullback flips the momentum bearish

PEPE was around $0.00000460, holding steady after a 16% decline the previous day. The pullback approaches a rising support trendline connecting the September 11 and October 8 lows near $0.00000425, reinforced by a horizontal level marked by the August 21 high at $0.00000423.

The 16% decline on Wednesday flipped momentum bearish, with the MACD crossing below its signal line and the RSI dropping below the midline to 47.

The path of least resistance for the frog-themed meme coin implies a decline toward the $0.0000043 support zone. A confirmed breakout below this level would reverse the rising trend supported by an ascending trendline, opening the door to the $0.00000364 level set by the October 8 low.

Looking up, Pepe must reclaim the $0.00000500 psychological level, followed by the October 29 high at $0.00000568, to further extend the upward trend.

(The technical analysis of this story was written with the help of an AI tool. Know more.)