Major meme coins Dogecoin (DOGE), Shiba Inu (SHIB), and PEPE failed to capitalize on a recent market-wide relief rally, highlighting their current weak momentum. Despite a bounce in major cryptocurrencies like Bitcoin and Ethereum, these meme coins faced significant resistance levels, with DOGE unable to break past $0.104 and SHIB trading within a falling channel. PEPE experienced the steepest decline, breaking below key support levels. Historically, meme coins have led risk-on rallies, but their muted performance this time suggests a lack of strong liquidity inflows. DOGE's price action was capped near $0.10-$0.104, while SHIB showed a bullish RSI divergence despite its price drop. PEPE's chart indicated a bearish trend, with a weekly decline of 8-9%. The current market dynamics suggest that without fresh inflows, meme coins may remain range-bound, potentially leading to a rotation back to major cryptocurrencies.
Meme Coins Dogecoin, Shiba Inu, and PEPE Struggle Amid Market Rally
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