Memecoin price prediction: DOGE, SHIB, PEPE plummet as whales withdraw capital

Meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) are facing higher loss risks due to the current volatile market conditions. On-chain and derive data show a decline in interest levels for DOGE, SHIB, and PEPE, while technical signals also lean towards a bearish trend.

Memecoin faces risks as the number of whales and OI declines

The number of investors holding the large wallet ( is often referred to as whales ) in a memecoin project, reflecting the core strength of the community. This declining figure indicates that the confidence of large investors is weakening.

According to data from Santiment, the number of DOGE whales has decreased, with investors holding over 10 million tokens falling from 887 to 882 in just the second day. For SHIB, the number of whales has decreased to 377,000, down from the monthly peak of 380,480.

Distribution of DOGE, SHIB supply | Source: SantimentSimilarly, the number of whales holding PEPE is currently at 173,000, down from the 30-day peak of 173,570.

Distribution of PEPE supply | Source: SantimentThe reluctance of whales aligns with the bearish trend of open contracts (OI) of memecoins in the derivatives market. Data from CoinGlass shows that the OI of DOGE, SHIB, and PEPE has fallen by more than 2% in the past 24 hours. The decline in OI indicates that capital is flowing out more strongly as risk-averse sentiment increases.

The OI of memecoins | Source: Coinglass## Dogecoin faces the risk of losing the 200-day EMA

DOGE is trading at $0.217 at the time of writing, still holding above the 50-day exponential moving average (EMA 50-day) at $0.215. As the largest memecoin by market capitalization with $31.8 billion, Dogecoin is at risk of losing support from the 50-day EMA, followed by the 100-day EMA and 200-day EMA, amidst preparations for a golden cross if the number of whales and OI continue to decline.

The price sliding below the 100-day EMA at $0.209 could pull DOGE down to a low of $0.188 on August 3.

The relative strength index (RSI) on the daily chart recorded 48, oscillating below the average threshold of 50, leaving room for further adjustments.

The MACD indicator and its signal line are trending down, approaching the 0 mark. If it falls into the negative zone, this will signal a change in trend to bearish, while also creating a selling opportunity for investors who are on the sidelines.

Daily DOGE price chart | Source: TradingviewWhen rising, the potential recovery momentum of DOGE may test the resistance line above at the level of $0.25, formed by connecting the peaks of December 8 and January 18.

SHIB faces the risk of further losses

SHIB is maintaining above $0.0000121 at the time of writing on Friday, after falling 1.9% from Thursday. This memecoin is at risk of continuing to drop to a low of $0.0000116 on August 2nd if support levels are broken.

The momentum indicators suggest a bearish outlook on the daily chart, as the MACD and signal line move into negative territory, while the RSI at 44 shows a downward trend.

Daily SHIB price chart | Source: TradingviewConversely, a recovery from the support level of 0.00001244 dollars could test the 50-day EMA at 0.00001296 dollars.

Pepe holds an important psychological level

Pepe continues to fall after breaking the symmetrical triangle pattern on the daily chart. At the time of writing, this frog-inspired memecoin is trading at $0.0000099, slipping below the psychological level of $0.00001.

The risk of a bearish trend is increasing as the 50-day EMA is declining and is likely to form a death cross, with the closing price approaching the 100-day EMA and the 200-day EMA. Such a crossover would signal a sell when the downward pressure intensifies on the short-term trend.

MACD and the signal line maintain a steep trend, while RSI is at 43, below the center line, indicating that the bearish trend continues to dominate.

PEPE Daily Price Chart | Source: TradingviewConversely, the potential reversal of PEPE could test the 200-day EMA at the level of $0.00001117.

Minh Anh