Meme Coin Prices Plunge: DOGE, PEPE, SHIB, and Others “In Red”

Meme Coin Prices Plummet Following Market Decline

Leading meme coins, including Dogecoin (DOGE), Pepe Coin (PEPE), and Shiba Inu (SHIB), have suffered losses in line with the broader crypto market downturn. Within the past 24 hours, these coins have experienced declines ranging from 5% to 9%.

Dogecoin (DOGE)

DOGE has repeatedly broken below crucial price supports, resulting in a downward spiral. In mid-June, it fell below $0.12, consolidating for two weeks before continuing its descent.

Subsequently, the price dropped below $0.118, plummeting over 20% to reach $0.09, where it faces significant support. Price action indicates this support is strong, as DOGE traded sideways within this zone from December to February.

The price may consolidate before further decline. If support holds, a reversal or extended accumulation may occur, potentially leading to a bullish move.

Pepe Coin (PEPE)

PEPE is currently breaking out of the neckline of a head and shoulder pattern. Price action suggests the right shoulder is forming, which could lead to continued trading between $0.000009 and $0.0000049 for the Ethereum token.

If the price breaks below the shoulder level, a significant drop to $0.0000018 is possible.

Shiba Inu (SHIB)

SHIB has also declined, breaking supports at $0.0000198, $0.0000181, and $0.0000168. At the time of writing, the price has dropped below $0.0000141, potentially leading to a further 16% decline to $0.0000116.