Shiba Inu (SHIB), Pepe Coin (PEPE), and Dogecoin (DOGE) are undergoing a fresh wave of volatility due to increased derivatives activity and weak price momentum in the short-term. The market data from CoinMarketCap and CoinGlass indicate that traders continue to be active even though some of these meme coins are nearing key areas of support.
The price forecasts for Shiba Inu, Pepe Coin, and Dogecoin are now being influenced by liquidity cluster levels, leverage exposure, and previous support levels in case there is increased selling pressure. Derivatives positions indicate cautious mood in the entire meme coin market.
Shiba Inu Support Structure Watch
Shiba Inu price is still between the range of $0.00000524 and $0.00000530 after the latest crypto market downturn that also affected Pepe coin and Dogecoin. The token has developed a possible double-bottom formation, according to the analysis provided by market analyst CryptoSat on X.
According to the analyst, the price trading around this zone multiple times indicate a decline in selling pressure and early accumulation of buying pressure. If the structure is correct, the first rebound target will be close to the value of $0.00000555 and another resistance point is at $0.00000580.
Nevertheless, the trend is yet to be confirmed. According to the chart analysis, a drop below $0.00000520 would nullify the setup above and Shiba Inu is more likely to fall to the $0.00000500 level or lower.
The CoinGlass liquidation heatmap data also indicate the clusters of leveraged positions above the current price. These may serve as temporary magnets if volatility is high.
PEPE Derivatives Activity is Still High
Pepe Coin price is trading similar to that of Shiba Inu and Dogecoin in that it is also dropping. Per the data from CoinMarketCap, Pepe Coin is trading at a price of close to $0.00000323 posing 3.4% down within the last 24 hours. This is an indication of the prevailing volatility in the meme coin space.
The derivatives market is still active even after the pullback. According to CoinGlass, PEPE futures trading volume is around $457.6 million while open interest has risen to almost $199 million across top crypto exchanges.
The CoinGlass data also showed that the long-to-short ratio on Binance is close to 0.91, meaning that the number of short trades is slightly higher than that of longs. There is a presence of significant liquidity clusters between $0.00000345 and $0.0000036, as shown in the liquidation heatmap. This could influence price direction in case there is increased volatility.
Dogecoin Faces Resistance Near $0.091
DOGE has recovered back to the key support level of approximately $0.0886 and moved to the resistance range at $0.091 as the buyers sought a short-term recovery. Based on the commentary provided by the TokenTalk on X, the 1-hour structure still shows a sequence of lower highs. This suggests that the broader trend is still weak.
As pointed out in the analysis, the recent movement seems like a relief bounce into a past supply area. They estimated the critical resistance range to be between $0.091-$0.092. This setup may favor another pullback until the price recovers and stays above this resistance level.
Derivatives metrics also indicate mixed sentiment among traders. According to CoinGlass data, the volume of DOGE futures has dropped to approximately $1.63 billion. The open interest is approximately $1.11 billion, which means that leveraged positions are not liquidated yet.
The larger long-to-shorts ratio of about 0.90 indicates a bit stronger positioning in shorts. Nevertheless, the DOGE/USDT ratio on Binance exceeds 2.5 and demonstrates that some traders are anticipating rebound.
According to the Dogecoin liquidation heatmap, large liquidity groups are found within $0.092 and $0.094. There is also another concentration at around $0.088. This shows possible area of volatility in case of price momentum changes. These liquidity bands of Shiba Inu, Pepe Coin and Dogecoin may affect their trend in the market provided the volatility in the market remain high.
Shiba Inu could cross into the $0.00000500 range, as Pepe Coin and Dogecoin traders are also monitoring key liquidity levels. These are levels between $0.00000345 and $0.088. A breakdown of these support levels would cause further volatility in the meme coin market, driven by derivatives markets.
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