Dogecoin trades around $0.1350 at press time after seven straight days of decline, slipping through the 50-day EMA at $0.1427. The meme coin hovers near the November 21 low of $0.1332, a level that previously acted as resistance in mid-December and is now a support level. Cardano’s ADA is approaching key support at $0.38 on Tuesday after being rejected by the 50-day EMA the previous week. Market metrics show mixed signals, with whale accumulation and rising long bets suggesting underlying interest, while negative funding rates and declining social dominance indicate cautious sentiment.
Story edges higher by over 1% at press time on Tuesday, extending the 27% gains from Monday. The meme coin’s third day of recovery approaches the $3.00 round figure, close to the November 6 low at $3.26, which previously capped gains on November 26. If IP exceeds $3.26, it could target the 200-day EMA at $4.101. Story (IP) is leading the market with double-digit gains over the last 24 hours, while MYX Finance (MYX) and Dash (DASH) rise roughly 6%.
Meme coins, including Dogecoin, Shiba Inu, and Pepe remain under extreme selling pressure, recording roughly seven days of downtrend following the January 4 spike. The meme coins risk a bearish shift in momentum as buying pressure subsides, potentially leading to further declines.
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