Meme coins are in trouble! DOGE, SHIB, and PEPE are all facing bearish pressure, with funds accelerating outflow.

The three major meme coins, DOGE, Shiba Inu (SHIB), and Pepe (PEPE), are all under pressure after a pullback over the weekend. The outflow of funds in the derivatives market and the decline in open contracts indicate that investors' risk aversion is rising. Technically, all three are facing a test of key support levels, and if they fall below, it could trigger a new wave of dumping.

Capital Outflow and Market Sentiment Turning Cold

According to CoinGlass data:

DOGE holdings fell by more than 2% to $3.58 billion.

SHIB holdings fell by over 2% to 182.98 million USD

PEPE holdings dropped by over 7%, to $596.26 million.

The decline in open interest (OI) indicates a withdrawal of funds, with investors choosing to wait and see, leading to a weakening of short-term market momentum.

DOGE: Symmetrical triangle facing breakout risk

(Source: Trading View)

Current price and pattern: DOGE fell nearly 2%, marking three consecutive days of decline, approaching the vertex of a symmetrical triangle pattern.

Key support: 50-day EMA at $0.2182, lower boundary support at $0.2115, if it falls below, it may test $0.1909 (August 2 low).

Technical Indicators: RSI is 51, MACD trend is flat, momentum is neutral.

Upside opportunity: If the closing price breaks above 0.2407 USD, it is expected to challenge 0.2848 USD (the high point on July 21).

SHIB: Falls below the 50-day EMA, over half of the gains retraced

(Source: Trading View)

Current price and trend: SHIB has retraced more than 1% during the day, continuing a 2.26% drop from Sunday, and has given back more than 50% of its gains since Saturday.

Key support: The target level is at the local support trend line near 0.00001200 USD.

Technical indicators: RSI is at 48 and declining, MACD is converging with the signal line, indicating a weakening of buying pressure.

Bounce conditions: If it returns above the 50-day EMA (0.00001300 USD), it may bounce to the 200-day EMA (0.00001409 USD).

PEPE: Risk of Death Cross Intensifies

(Source: Trading View)

Current price and trend: PEPE has fallen for three consecutive days, with a decline of over 1%. The 50-day and 200-day EMA are close to forming a death cross.

Key support: psychological level at 0.00001000 USD, if broken, it may test 0.00000900 USD (daily green support zone).

Technical Indicators: RSI is at 45, indicating there is still downside potential; MACD is flat in the negative zone, reflecting increasing bearish pressure.

Resistance: If it rebounds above the 200-day EMA (0.00001117 USD), the bulls may challenge 0.00001266 USD.

Conclusion

The three major meme coins are currently facing capital outflows and technical pressure, with a bearish trend in the short term. If DOGE, SHIB, and PEPE cannot hold the key support level, it may trigger a new wave of dumping; on the contrary, if they can stabilize above the EMA, a technical rebound is expected. Investors need to closely monitor changes in open contracts and technical indicators. For more real-time market data and in-depth analysis, please follow the official Gate platform.