On Wednesday, the major meme coins Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) rose by 5%-10%, but on Thursday they stabilized, indicating a lack of sustained upward momentum. Derivatives data shows that the market favors DOGE, with open interest (OI) increasing by 5.36% to $1.04 billion, while SHIB’s OI remains at $62.75 million, and PEPE has dropped over 6% to $195.92 million. Whales’ interest in these three cryptocurrencies has increased, but only DOGE’s buy-side volume dominates. From a technical perspective, all three face downward pressure, with the 50-day moving average acting as a key resistance level; DOGE’s price is close to $0.1000, SHIB is below $0.000007, and PEPE is around $0.000004.
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Meme coin price forecast: Dogecoin, Shiba Inu, and Pepe coin struggle to sustain the rally
On Wednesday, the major meme coins Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) rose by 5%-10%, but on Thursday they stabilized, indicating a lack of sustained upward momentum. Derivatives data shows that the market favors DOGE, with open interest (OI) increasing by 5.36% to $1.04 billion, while SHIB’s OI remains at $62.75 million, and PEPE has dropped over 6% to $195.92 million. Whales’ interest in these three cryptocurrencies has increased, but only DOGE’s buy-side volume dominates. From a technical perspective, all three face downward pressure, with the 50-day moving average acting as a key resistance level; DOGE’s price is close to $0.1000, SHIB is below $0.000007, and PEPE is around $0.000004.