Prediction: DOGE, SHIB, and PEPE bulls struggle to recover
Dogecoin stabilizes at $0.1300 after seven days of losses, risking bearish momentum.
Shiba Inu maintains at the 50-day EMA after seven days of decline as buying pressure fades.
As MACD flashes a sell signal, Pepe risks additional drop toward the 50-day EMA.
After the January 4 rise, meme currencies like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) have been under significant selling pressure for seven days. since purchasing pressure weakens, meme currencies risk additional losses since the cryptocurrency market lacks a positive trigger.
After seven consecutive losses, Dogecoin fell below the 50-day Exponential Moving Average (EMA) at $0.1427 and trades at $0.1350 at press time on Tuesday. The meme currency is at the November 21 low at $0.1332, which was resistance in mid-December but is now support.
A rebound from this level might challenge the 50-day EMA at $0.1427 and the November 26 high at $0.1568, which limited advances on January 6.
DOGE may fall to $0.1161, its December 31 low, if it falls below $0.1332.
Shiba Inu's moving average support is key.
After a seven-day fall, Shiba Inu stabilizes above the 50-day EMA at $0.00000834. SHIB rebounds somewhat on Tuesday after almost retesting the breakout of a falling channel pattern.
A rebound from this moving average might take SHIB to the October 11 low at $0.0000956.
Shiba Inu risks a negative trend change like Dogecoin. On the daily chart, the RSI is 53, nearing the halfway line from the overbought border, indicating diminishing purchasing pressure. MACD risks falling below the signal line, indicating a sell signal.
However, a persistent drop below the 50-day EMA at $0.00000834 might reach the October 10 bottom at $0.00000678.
Frog-themed meme currency seeks $0.00000528 50-day EMA as next support.
PEPE might reverse if DOGE and SHIB bounce to the $0.00000650 supply zone and the 200-day EMA at $0.00000738.
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