- Dogecoin, Shiba Inu, and Pepe all show declining open interest and whale activity, signaling weak demand.
- DOGE risks breaking key support at $0.178, SHIB hovers below $0.00001000, and PEPE’s nearing a bearish breakdown.
- Momentum and volume remain weak, with no strong signs of a rebound yet.
The meme coin craze seems to be hitting a wall again. Dogecoin, Shiba Inu, and Pepe — the holy trinity of speculative tokens — are all flashing red, and the signs aren’t looking great. On-chain data and futures market numbers both show that big wallets and retail traders are backing off, adding even more pressure to the supply side.
Retail Interest Fades Fast
Retail hype around meme coins always burns bright — and then fades just as quickly. This time, it looks like the spark’s gone. According to CoinGlass, open interest in futures dropped by 2% for DOGE, 7% for SHIB, and 8% for PEPE over the last 24 hours. That puts their notional values at $1.7 billion, $77.8 million, and $227.45 million, respectively. The message is simple: traders are lowering leverage and closing positions, trying not to get caught in more downside volatility.
At the same time, whale activity has cooled off too. Santiment data shows Dogecoin wallets holding over 100 million tokens haven’t moved much since November 1. For SHIB and PEPE, it’s even worse — those same big wallets are cutting positions. That kind of steady reduction in whale holdings usually points to growing sell pressure.
Dogecoin Tests Key Support
Dogecoin’s down about 4% and trading just under $0.18. The coin’s trying to hang on to its last big support near $0.178, which dates back to October 11. If it breaks below that, the next stop could be $0.157, the June 27 low.
The moving averages don’t look good either — the 50-day EMA recently crossed below the 200-day, forming a bearish “death cross,” and now the 100-day looks ready to follow. The MACD’s flattening near its signal line, showing weakening buying momentum, while the RSI sits around 36, creeping toward the oversold zone.
If DOGE bounces here, the first resistance lies near $0.188, but it’ll need serious volume to flip sentiment.
Shiba Inu Slips Below Key Levels
Shiba Inu is slipping below the $0.00001000 mark, and that’s never a good sign. It’s already down 3% this week, and if it loses support at $0.00000974, the next likely levels are $0.00000930 and $0.00000874 — lows from February and January.
The MACD’s green bars are fading, signaling slowing momentum, and the RSI at 40 suggests sellers are creeping back in. If SHIB somehow manages to rebound, the resistance sits at $0.00001000 and $0.00001045, but that’ll be a tough wall to break.
Pepe Faces Another Breakdown
Pepe’s following the same path. Down about 5% and hovering near $0.00000620, the meme coin’s testing its local support line drawn from the October 11 and 30 lows. A drop below that could drag it all the way to $0.00000525 or even $0.00000279.
The EMAs are all sloping down — 50, 100, 200 — confirming that the broader trend’s bearish. The MACD’s about to cross into negative territory, and the RSI is already deep in oversold levels at 34. If PEPE gets a rebound, it might test resistance around $0.00000720, but the odds aren’t great right now.
The Bottom Line
Meme coins are cooling off across the board, and both whales and retail traders are stepping away. The speculative energy that fueled massive rallies earlier in the year seems to be drying up. Unless liquidity or new hype enters the market soon, the trend suggests more sideways chop — or worse, another leg down.
