Meme Coins Continue Downward Spiral as Sellers Maintain Control

The broader cryptocurrency market struggles to regain momentum as meme coins continue to trade under heavy pressure. Among them are Dogecoin (DOGE), Shiba Inu (SHIB), and MemeCore, all of which have extended their declines.

Technical indicators across the three charts favor sellers, with moving averages and Fibonacci resistance zones limiting recovery attempts. The price action for each token reflects persistent selling pressure and weak buying interest.

Dogecoin, currently trading near $0.0724, remains within a well-established downtrend after losing several important support levels. Its price continues to form lower highs and lower lows, indicating the need to reclaim key resistance levels for a sustained recovery.

Shiba Inu also faces significant pressure, trading around $0.00000416 and holding just above its latest swing low. It remains below every major exponential moving average, with support between $0.00000400 and $0.00000406 becoming increasingly important.