Meme Coin Price Outlook: Dogecoin, Shiba Inu, and Pepe Extend Losses Amid Ongoing Downward Pressure
Meme Coin Price Outlook: Dogecoin, Shiba Inu, and Pepe Extend Losses Amid Ongoing Downward Pressure
Leading meme coins are extending their joint downturn, heightening concerns over further declines.
According to investment-focused outlet FXStreet on February 11 (local time), Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) all continued their intraday losses on Wednesday, remaining in bearish territory without clear signs of a rebound. Amid a broader market downturn, meme coins—known for their highly speculative nature—are facing relatively stronger downward pressure.
Dogecoin has extended its six-week losing streak this week, falling about 5% since Monday. It slipped nearly 1% further intraday and is trading below both the 50-day and 200-day exponential moving averages on the four-hour chart. The Relative Strength Index (RSI) stands at 36, trending toward oversold territory, while the Moving Average Convergence Divergence (MACD) shows an expanding negative histogram below the signal line, indicating strengthening bearish momentum. Immediate support is seen at $0.08675, and a break below this level could open the door to further losses toward the February 6 low of $0.080. On the upside, resistance is identified near $0.098 and $0.1153.
Shiba Inu has also declined for four consecutive sessions, slipping about 1% further intraday. On the four-hour chart, it continues to post lower lows within a descending channel, with initial support at $0.0000059. If losses deepen, key support levels are cited at $0.0000056 and the February 6 low of $0.0000051. The RSI, at 40, is approaching oversold territory, while the MACD and signal lines are converging, suggesting the possibility of a bearish crossover. Overhead resistance levels are presented at $0.0000063 and $0.0000065.
Pepe fell 5% in the previous session and dropped more than 1% again on Wednesday, marking six consecutive weeks of declines. On a weekly basis, it is down nearly 5%. On the four-hour chart, a pullback from a resistance trendline is underway, with the price retesting the February 6 low of $0.00000310. The RSI reads 39, indicating increasing downward pressure, while the MACD’s expanding negative histogram signals the potential continuation of the bearish trend. In the event of a rebound, a breakout above $0.00000370 will be key, followed by resistance at $0.00000390 and $0.00000458.
The outlet assessed that, in the absence of a clear bullish catalyst across the broader market, all three meme coins remain technically biased to the downside. While a short-term rebound is possible, further correction appears inevitable if key support levels break down.
Disclaimer: This article is for investment reference purposes only and we are not responsible for any investment losses resulting from reliance on it. The content should be interpreted solely for informational purposes.
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