Dogecoin Update: Meme Tokens Hover Near Crucial Support Amid Growing Bearish Signals

Meme coins such as

(DOGE), (SHIB), and (PEPE) are under renewed selling pressure as large investor activity slows and technical signals point to a weakening market mood. After a brief bounce last week fueled by retail enthusiasm, all three are now hovering near key support zones, with futures open interest and momentum indicators both trending lower, according to an .

Data from CoinGlass shows a notable drop in futures open interest (OI) for these tokens over the past week. DOGE's OI slipped by 3% to $1.75 billion,

declined 12% to $78.52 million, and PEPE fell 9% to $242.12 million, the FXStreet report noted. This pullback comes after a short-lived surge driven by Bitcoin surpassing $115,000, which briefly revived retail interest, as mentioned in another . Yet, the lack of accumulation by major holders—often a stabilizing factor for speculative coins—has left these assets exposed to broader market downturns.

Dogecoin is currently trading at $0.18000, testing its monthly support at $0.17816 after four straight days of declines, according to FXStreet. If it falls below this level, the price could accelerate toward $0.14270, a low last reached in June. Technical signals reinforce the bearish trend: the 50-day EMA has dropped below the 200-day EMA, forming a "Death Cross," while the RSI at 39 and a MACD near the signal line both indicate fading buying interest. Traders are watching to see if

can challenge the $0.20869 resistance, which corresponds to an August low, to counter the negative outlook.

Shiba Inu, up 1% at $0.00001000 as of Friday, is struggling to reclaim the psychologically important $0.00001000 mark despite bouncing from the October 17 low of $0.00000924, FXStreet reported. The 4-hour chart for the token presents mixed signals: the MACD is nearing a bullish crossover, but the RSI at 42—showing a V-shaped recovery from oversold levels—suggests momentum is uneven. Key resistance points are at the 50-period and 200-period EMAs ($0.00001015 and $0.00001085), which may limit gains if buyers cannot maintain upward momentum.

Pepe, which has risen 2% to $0.00000645, is holding onto the S2 Pivot Point, a support level that has remained intact since October 11, according to FXStreet. A close below this could prompt a drop toward $0.00000653 and the March 11 low of $0.00000404. Technical indicators remain negative: the RSI at 36 is close to oversold territory, and the MACD's bearish divergence increases the risk of a downward crossover. Unless buyers intervene, a move back to the S1 Pivot Point at $0.00000788 appears unlikely.

Uncertainty persists in the wider crypto market. Although Bitcoin's rebound temporarily boosted

coin trading, institutional investors are still hesitant. An application for a spot Dogecoin ETF by 21Shares has not yet progressed, and DOGE futures open interest has dropped 65% from its October high, according to a . Experts suggest that a recovery in trading volume above $2 billion could restore confidence, but current data points to fragmented liquidity.

The outlook for these meme coins depends on three main factors: stabilization of open interest, a revival in retail trading volume, and a breakout above important resistance levels. At present, technical indicators favor the bears, with DOGE at $0.17816, SHIB at $0.00001000, and PEPE at $0.00000645 as crucial support points. If these levels fail to hold, further declines are likely; however, a sustained move above them could spark renewed speculative interest—assuming macroeconomic conditions and signals of institutional adoption improve, according to FXStreet.