Top 3 meme coin price predictions: Dogecoin, Shiba Inu, Pepe struggle to find the recovery momentum

Meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) enter the new year in red as they all face correction pressure, decreasing from 2% to 4% during Wednesday’s trading session. Notably, while “whales” – large investors holding significant volumes – are quietly increasing their DOGE holdings, confidence in SHIB and PEPE shows signs of weakening. From a technical perspective, these meme coins still face the risk of deeper declines as selling pressure remains high, in the context of Bitcoin (BTC) not yet establishing a strong and sustainable recovery.

Whales prioritize DOGE over SHIB and PEPE

Latest on-chain data shows a mixed picture of whale activity in the meme coin market. While large capital flows are quietly moving into DOGE, SHIB and PEPE are facing increased selling pressure.

Specifically, according to Santiment, whale groups holding from 100 million to 1 billion DOGE have increased their total holdings to 35.86 billion DOGE, a significant rise from 34.59 billion DOGE recorded on Sunday. This trend reflects growing confidence among large investors in Dogecoin.

Distribution of DOGE supply | Source: SantimentOn the other hand, Shiba Inu whales holding from 1 million to 100 million SHIB have reduced their positions, bringing total holdings down to 11.06 trillion SHIB from 11.12 trillion earlier in the week. A similar trend appears with PEPE, as whale groups holding from 1 million to 100 million PEPE cut their holdings to 4.45 trillion PEPE from 4.47 trillion previously. Meanwhile, investors holding from 100 million to 1 billion PEPE also decreased their exposure, with total tokens held retreating to 10.74 trillion from 10.77 trillion during the same period.

Distribution of SHIB and PEPE supply | Source: Santiment## Dogecoin faces risk of breakdown from descending wedge pattern

Dogecoin continues to face selling pressure, having lost over 4% since the beginning of the week, extending its decline for the sixth consecutive week. This meme coin featuring the dog mascot is currently moving within a descending wedge pattern on the daily chart, gradually approaching the support trendline formed from the lows on 11/21 and 12/18, around the $0.1111 level.

If the price decisively closes below this key support level, DOGE could risk losing the psychological threshold of $0.1000. This would trigger a deeper correction scenario, pushing the price back to the October 10 low at around $0.0950.

Daily DOGE/USDT chart | Source: TradingViewFrom a technical indicator standpoint, the Relative Strength Index (RSI) on the daily chart is at 33, oscillating near oversold territory. This indicates that selling pressure remains significant, and the risk of DOGE continuing to weaken in the short term still exists.

Additionally, the MACD indicator has crossed below the signal line and formed a new cycle of red histogram bars below zero, further confirming that bearish momentum is returning to the market.

In the event of a technical rebound, DOGE is likely to encounter significant resistance near the Pivot R1 level at $0.1290.

Shiba Inu signals a negative outlook

Shiba Inu is still trending downward, constrained within an expanding wedge pattern – clearly shown by the divergence of two trendlines on the daily chart. At the time of writing, SHIB has gained a slight 1% during Thursday’s session, recovering after a 2.68% correction in the previous session.

This daily bounce temporarily ends a more than 6% decline over three consecutive sessions, opening hopes for the bulls as the price approaches the central Pivot point at $0.00000775 as a notable short-term resistance.

Daily SHIB/USDT chart | Source: TradingViewHowever, technical indicators on the daily timeframe still send mixed signals. RSI is around 38 and rising from oversold levels, indicating weakening selling pressure. Conversely, the MACD and signal line remain close together, reflecting that upward momentum is fragile and lacks a clear breakout.

In a negative scenario, if the rebound momentum cannot be sustained, SHIB could face downward pressure again, with a key support zone at the Pivot S1 level around $0.00000598.

Pepe’s recovery lacks momentum

Pepe has gained over 1% during Thursday’s trading session, marking a recovery after a 2.66% drop on the previous day. This rebound suggests buying interest is returning to the frog-themed meme coin. If the upward trend continues, the Pivot R1 level at $0.00000424 will serve as an important resistance that the price needs to break through to confirm bullish momentum.

Daily PEPE/USDT chart | Source: TradingViewOn the daily timeframe, technical indicators still show a neutral signal. RSI is at 45 and gradually moving toward the centerline, reflecting a relatively balanced market between bulls and bears. Meanwhile, the MACD and signal line continue to trend upward, although the green histogram bars are narrowing, indicating that bullish momentum is gradually weakening.

In a negative scenario, if selling pressure returns and the price reverses downward, PEPE could retest the December 18 low around $0.00000363, which is the nearest support zone.