Price Analysis View Non-AMP

Pepe and Shiba Inu Face Strong Bearish Pressure: Is the Memecoin Market Losing Momentum?

Published by
Shayan Chowdhury

In recent hours, the meme coin market has experienced increased selling pressure following Bitcoin’s drop from its peak. Prices for Pepe and Shiba Inu coins have significantly fallen as both whales and short-term holders have been offloading their holdings, leading to a sharp decrease. Nonetheless, analysts predict a strong recovery as buyers look to capitalize on the current dip.

Liquidation Surges in the Memecoin Market

As selling pressure surges in the cryptocurrency market, there has been an increase in long position liquidations. According to Coinglass, Pepe experienced total liquidations exceeding $1.8 million, with $1.3 million attributed to buyers. Meanwhile, the SHIB coin saw a total of $763,000 in liquidations, with buyers accounting for $500,000 of that amount.

Data from IntoTheBlock indicates a decline in large transaction volumes for both Pepe coin and Shiba Inu in recent days. Specifically, Pepe’s whale transaction volume plummeted from a peak of $557 million to $176 million, while SHIB’s whale interest fell from $368 million to $156 million within a week.

This significant reduction in whale activity has strengthened resistance levels, contributing to a sharp price drop. However, following substantial gains after the election, the recent downturn may present a strategic buying opportunity. Consequently, analysts anticipate a robust recovery in the market soon.  

Pepe Price Analysis

The Pepe coin has been experiencing a decline in recent hours, facing strong resistance at the $0.00002 mark. However, buyers are attempting to stabilize the price at the 23.6% Fibonacci retracement level. Currently, Pepe is trading at $0.0000192, having fallen by over 2.1% in the last 24 hours.

The downward trajectory of the 20-day exponential moving average (EMA) at $0.0000197, coupled with the Relative Strength Index (RSI) in bearish territory, suggests that sellers have the upper hand. If buyers manage to hold the price around $0.0000178, the PEPE/USDT pair could potentially rebound to $0.00002 and possibly extend to $0.000025.

Conversely, if sellers manage to drive the price below $0.0000178, increased selling pressure could lead the price to drop to the 50% Fibonacci level at $0.000015, and possibly further to the 61.8% Fibonacci retracement level.

Shiba Inu Price Analysis

Though the price of SHIB rebounded from the recent support line, it struggles to hold above the $0.000026 level. As of writing, SHIB price trades at $0.0000255, declining over 0.6% in the last 24 hours.

For further gains, buyers need to push the price above the resistance at $0.000026 to set the stage for revisiting the $0.000029 mark. Successfully closing above $0.000029 would complete a bullish inverted head-and-shoulders pattern, potentially sending the price toward $0.0000395 and reaching the target of $0.000047.

On the other hand, a downturn in price that breaks below the 200-day EMA would suggest that the bears are taking control. This could lead the SHIB/USDT trading pair to decline toward the simple moving average (SMA) at $0.000022.

Shayan Chowdhury

Shayan is a digital nomad and a professional journalist. He delivers high-quality engaging articles to Coinpedia through his in-depth research and analysis.

Recent Posts

This $0.025 DeFi Project Is Gaining Real Traction — Will It Be the Next Big Crypto of 2025?

As the market warms up and new narratives begin forming around decentralized finance, one project…

April 21, 2025

DOGE to $4? Dogecoin Plots a Comeback, While $0.20 Rival Token Shows Prospects of a 14560% Surge

Dogecoin has shown a 9.74% daily growth to reach $0.2021 in trading value and experts…

April 21, 2025

Top Altcoins to Buy Before the Next Market Surge

With the crypto market showing signs of renewed bullish momentum, investors are looking to position…

April 21, 2025

XDC Network Price Prediction 2025, 2026 – 2030: Is XDC Price Good Investment?

Story Highlights The XDC Price today is . The XDC Network price could hit a…

April 21, 2025

This Altcoin May be the Next 100x Gem, Which Could Thrive in 2025

The crypto markets initiated the weekly trade with decent gains while Bitcoin price surged above…

April 21, 2025

Stellar Price Prediction 2025, 2026 – 2030: Will The XLM Coin Reach $1?

Story Highlights The live price of the Stellar crypto is . XLM price could reach…

April 21, 2025