Shiba Inu Loses Support Zone Under Pressure, PepeCoin’s Rally Falters Below 200-Day Trendline

SHIB Cracks as Bulls Retreat; PEPE Fails to Break Long-Term Resistance

Tuesday brought renewed turbulence for memecoins, with Shiba Inu (SHIB) slipping through a key support level and PepeCoin (PEPE) struggling to overcome its 200-day moving average — a sign that risk appetite in the sector may be waning.

Shiba Inu (SHIB): Burn Rate Up, Price Down

SHIB began the session with promise, briefly climbing to $0.00001336 before sellers took control, pushing it down to $0.00001297 and breaking through the high-volume support near $0.00001310. The decline negated a short-lived uptrend from May 31 and highlighted growing weakness despite bullish headlines.

Overnight, the SHIB burn rate surged 140%, removing nearly 40 million tokens from circulation — typically a bullish signal. Still, it wasn’t enough to reverse price momentum. Derivatives interest rose modestly (+2.03%), with more than half concentrated on Gate.io.

Market watchers also noted aggressive trading around 08:00 UTC, where SHIB volume briefly spiked to 14.9 billion tokens — a sign of attempted defense — but follow-through buying failed to materialize.

PepeCoin (PEPE): Another Rejection at a Critical Barrier

PepeCoin, meanwhile, attempted to continue its May 31 recovery but was rejected at the 200-day simple moving average — a key level that has acted as long-term resistance. PEPE’s market cap fell back to $5.2 billion, trimming gains and casting doubt on bullish continuation.

Still, technical signals offer a mixed picture. The 50-day moving average recently crossed above the 100-day, hinting at deeper structural strength. If PEPE can hold support in the $4.6B–$4.7B range, traders may see this rejection as a pause — not a reversal.

Conclusion:
With SHIB breaching support and PEPE failing to push past resistance, memecoins are flashing caution signs. Until either token reclaims technical ground, traders may remain sidelined — watching, waiting, and weighing the next big move.