Meme Coin Selloff Intensifies: DOGE, SHIB, PEPE Struggle Against Mounting Bearish Pressure

The meme coin sector is facing relentless selling momentum, with Dogecoin, Shiba Inu, and Pepe sliding through their seventh consecutive day of losses. As of January 15, DOGE is trading near $0.14 with a 24-hour decline of -1.98%, while the broader group shows signs of capitulation. Without fresh catalysts to reignite buying interest, these tokens risk breaking key support levels that could trigger deeper drawdowns.

When technicals turn red: The current breakdown scenario

The technical picture has shifted decidedly bearish across all three meme tokens. Dogecoin has slipped below its 50-day Exponential Moving Average (EMA) at $0.1427 and now sits precariously near the November 21 low at $0.1332. The daily Relative Strength Index (RSI) has dipped to 48—below the neutral 50 level—signaling that selling pressure has seized control from buyers. More concerning, the Moving Average Convergence Divergence (MACD) is threatening a bearish crossover, which would confirm a shift toward sustained downside momentum.

Shiba Inu presents a similar pattern: the token is clinging to the 50-day EMA at $0.00000834 while its RSI slides down from overbought conditions toward 53. The MACD is also deteriorating and risks crossing below its signal line, a classic sell trigger that could accelerate losses if the EMA support breaks.

Pepe faces perhaps the most immediate pressure. A 24-hour drop of -8.64% has pushed the token toward its $0.00000500 support zone, and the MACD has already triggered a sell signal. With RSI falling sharply from overbought readings, bullish momentum has essentially evaporated, leaving PEPE vulnerable to a test of the 50-day EMA at $0.00000528.

Where are the floor levels? Understanding the next support targets

If these meme coins fail to stabilize at current support zones, traders should monitor the following downside targets:

For Dogecoin, a break below $0.1332 would open a path toward the December 31 low at $0.1161. The question is whether buyers can mount a defense at these psychological levels or if sellers maintain control through the bitcoin price action and broader market sentiment shifts.

Shiba Inu holders should watch the October 10 low at $0.00000678 as the key floor if the 50-day EMA breaks. This level has previously acted as a swing low and could attract buying interest from long-term accumulator traders.

Pepe’s psychology revolves around the $0.00000500 round number. Falling below this would target the 50-day EMA at $0.00000528, with further weakness potentially extending toward $0.00000400 levels if conviction selling persists.

Is there a recovery play? Resistance levels and rebound scenarios

A rebound scenario would require DOGE to reclaim the 50-day EMA at $0.1427, followed by the November 26 high at $0.1568—levels last tested during the January 6 rally. For Shiba Inu, a successful hold above $0.00000834 could encourage a push toward $0.0000956 (October 11 low). Pepe faces resistance at the $0.00000650 supply zone, with the 200-day EMA at $0.00000738 acting as a secondary ceiling.

However, with technical indicators flashing bearish signals across the board, the burden of proof lies with buyers to generate fresh capital inflows and reverse the multi-day downtrend.

The bigger picture: When does the bleeding stop?

Meme coins thrive on momentum and retail enthusiasm. The current seven-day drawdown has drained both, leaving the sector vulnerable to capitulation. Until broader crypto market conditions stabilize—and bitcoin price prediction models show renewed strength—meme tokens are likely to remain under distribution pressure, with sellers maintaining the upper hand.

Traders watching DOGE, SHIB, and PEPE should respect the technical signals until proven otherwise. Key support zones are now the battleground where either a reversal or a further leg lower will be decided.