SHIB Cracks Support Zone as PEPE Pulls Back From 200-Day Moving Average

Memecoins came under pressure Tuesday as Shiba Inu (SHIB) broke below key volume-supported levels, while PepeCoin (PEPE) faced firm resistance at a long-term technical barrier.

SHIB Breakdown Signals Shift in Momentum

Shiba Inu lost its high-volume support at $0.00001310, reversing earlier gains after trading as high as $0.00001336. The token dipped to a session low of $0.00001297, snapping a weeklong trend of higher lows from its May 31 bottom at $0.00001226.

Despite a 140% surge in burn rate—eliminating nearly 40 million SHIB—bullish momentum faded. Meanwhile, derivatives open interest rose 2.03%, with Gate.io holding more than half of the exposure.

• Volume clusters and a spike at 08:02 UTC (~14.9B SHIB traded) hinted at buyer interest, but follow-through was weak.
• Price action remains locked in a descending channel, with resistance stiffening near $0.00001320.

PEPE Rejected at Key Long-Term Trendline

PepeCoin saw a mild recovery attempt early Tuesday but was firmly rejected at its 200-day simple moving average. The token’s market cap pulled back to $5.2 billion, undercutting momentum as bulls failed to reclaim the trendline.

Still, structure remains intact for now. The 50-day SMA recently crossed above the 100-day, creating a constructive technical backdrop. Any deeper retrace could find support near the $4.6–$4.7 billion market cap range.

Bottom Line:
With SHIB breaking support and PEPE failing at resistance, memecoins are signaling caution. Traders will be watching closely to see if these dips attract fresh inflows—or if they mark the start of a broader cooldown.