Meme Coins Plunge as Pressure Mounts on Dogecoin, Shiba Inu, and MemeCore

The cryptocurrency market is under pressure, and meme coins are no exception. Dogecoin (DOGE), Shiba Inu (SHIB), and MemeCore have all declined in value recently.

Dogecoin has been trading within a well-established downtrend after losing several important support levels. It currently trades at $0.0724, with price action forming lower highs and lower lows, indicating persistent selling pressure.

The meme coin remains below its major exponential moving averages (EMAs), which now create multiple resistance barriers making any recovery increasingly difficult. The 20-day EMA sits near $0.0808, while the 50-day EMA rests around $0.0826.