The Silence of Meme Coins: Why Dogecoin, Shiba Inu, and PEPE Failed to Find Bullish Mode

Earlier this month, when a rally in major cryptocurrencies was seen, investors hoped that meme coins would rise just as quickly. But that didn’t happen. Dogecoin (DOGE), Shiba Inu (SHIB), and PEPE all missed this surge, sending an important market message: this time, market dynamics are different.

Technical charts show that these three meme coins are stuck at strong resistance levels. DOGE is unable to break above $0.10, SHIB is trapped in a falling channel, and PEPE has broken a key support level—indicating weak momentum and limited investor confidence.

Top Meme Coins Lag During Relief Rally: What the Market Is Telling Us

Remember when a sharp BTC rally would send meme coins soaring? Historically, when liquidity flowed into the market, meme coins like DOGE and SHIB led the risk-on sentiment. But in this current relief rally, that’s not the case.

While BTC, ETH, and most altcoins managed to catch the wave, these three meme coins struggled. No explosive trading volume, no FOMO-driven entries. Only uniformity near key price levels. This suggests investor confidence remains weak, and liquidity in these meme coins has yet to return.

Technical Struggles for Dogecoin: Failing to Break $0.10 Resistance

DOGE’s price rebounded from last week’s lows of $0.088–$0.09 but was limited at the resistance zone of $0.10–$0.104. Technical analysis indicates multiple downward pressures.

Current Price Data (March 23, 2026):

• Current Price: $0.09
• 24-Hour Change: +0.98%
• 24-Hour High: $0.10
• 24-Hour Low: $0.09

DOGE’s Relative Strength Index (RSI) is trending upward, signaling positivity, but the actual price action remains disappointing. At 40.52, RSI is technically in the lower high zone, showing some hope, but it has not convincingly broken above $0.106.

If DOGE cannot surpass $0.106, it risks falling back below $0.09. That’s a critical level investors should watch.

Shiba Inu and PEPE: Divergent Signals, Similar Struggles

Shiba Inu (SHIB) Technical Analysis:

SHIB is trapped in a falling channel, where last week’s price dropped from $0.0000076 to $0.0000052. Midweek, it dipped further to $0.00000531, then briefly rebounded but faced supply resistance at $0.0000058–$0.000006.

Interestingly, SHIB’s chart shows a bullish RSI divergence. This means while the price is falling, RSI is rising. It suggests weakening sellers and a potential reversal—an encouraging technical pattern for SHIB.

Current Price Data (March 23, 2026):

• 24-Hour Change: +4.41%

PEPE Technical Analysis:

PEPE has performed the worst among the three. After rejecting $0.0000043, it fell into a range of $0.0000033–$0.0000035—below a key support level. This indicates a truly negative market sentiment for PEPE.

On a weekly basis, PEPE declined 8–9%, and over the past month, the situation worsened (-21.50%). RSI shows a bearish break, warning signs for this meme coin.

Current Price Data (March 23, 2026):

• 24-Hour Change: +2.21%
• 7-Day Change: -14.87%
• 30-Day Change: -21.50%

Investors may still favor the meme sector (as shown by the +2.21% daily bounce), but chart signals caution—actual accumulation has yet to begin.

Market Shift: What the Lack of Repeat in Past Cycles Means

In previous crypto cycles, meme coins delivered extraordinary returns during relief rallies. DOGE and SHIB surged 50–200%, while PEPE saw over 1000% gains during early hype waves. But this time, things are clearly different.

What does this gap indicate?

First: Market maturity has increased. Investors no longer jump solely on hype; they look at liquidity and volume.

Second: Capital flows in this relief rally are selective. They’re not across all sectors but into specific projects, meaning the days of broad meme coin outperformance may be behind us.

Third: Due to long-term meme coin searches, the old shine might be fading.

What’s Next: What Meme Coins Signal for Investors

If these meme coins fail to recover, significant rotation in the market is likely. Investors might shift toward large-cap projects or adopt a risk-averse stance, which could push meme coin prices even lower.

Going forward, prudent investors should watch for:

1. Volume increases: Without rising trading volume, any price gains are suspect.
2. Success above key resistance levels: DOGE needs to clear $0.106, SHIB must surpass $0.000006, and PEPE should break above $0.0000043.
3. Multi-day confirmation: A single-day bounce isn’t a trend; consistency matters.

Before these levels are reached, these meme coins are likely to remain range-bound.

Conclusion: The Market Narrative Is Different

Amid the recent relief rally, DOGE, SHIB, and PEPE are struggling to find bullish momentum. Weak momentum and limited investor interest persist, but their charts show some resistance against sharp declines (except PEPE).

Meme coins typically follow broader market sentiment. But when they stay quiet—as they are now—it’s a powerful sign that we are in a fundamentally different market dynamic. Investors should pay close attention to technical signals and volume, wait for confirmation, and avoid rushing decisions.