Dogecoin, Ethereum, XRP – Why Meme Coins Aren’t Immune to Market Pressure
The cryptocurrency market continues to decline. The broader pressure is on mainstream assets like Ethereum and XRP, as well as memecoins like Dogecoin. On Tuesday, February 17, 2026, Ethereum fell 0.85% to $1,981.
According to reports, the cryptocurrency market remains 50% below all-time highs. Analysts have termed the decline over January and February as “genuine distress” across the market.
This article examines why major assets like XRP, Ethereum, and Dogecoin are falling.
Dogecoin Price: Experiencing High Fluctuations
On February 17, 2026, Dogecoin (DOGE) traded around $0.10, where the price fluctuated between $0.098 and $0.103. A slight decline of 0.4% to 2.27% was recorded over the 24 hours. On Sunday, February 15, DOGE hit a two-week high, but it halted at under $0.12.
According to technical charts, DOGE’s support level is near $0.10. It is trading below the 50-day and 200-day EMAs. The Relative Strength Index (RSI) is currently near 31.5-38.4, indicating overselling. The MACD is currently bearish, and some analysts note a slight easing in selling pressure.
The immediate support level is $0.10, and if it cannot hold the level, the price could break towards $0.94. DOGE could also experience a deeper decline to $0.80.
Ethereum Price Trapped Below $2,000
Ethereum (ETH) had a 1% decline, trading between $1,997.83-$1,998.46. According to technical charts, the cryptocurrency has been in a consolidation since February between $2,100 and $1,800.
ETH is trading below major Exponential Moving Averages (EMA) and the 100-hourly Simple Moving Average (SMA). The MACD showed a bullish crossover earlier this week. But the current signals are mixed as the momentum stalled near the zero line.
XRP Price Moving in a Bearish State
XRP is trading near $1.48, and the price fluctuated between $1.49 and $1.42. The Relative Strength Index (RSI) is in neutral territory, approximately between 42 and 43, suggesting that immediate selling pressure is stabilizing.
XRP is trading below its 20, 50, and 100-day Simple Moving Averages (SMA), acting as overhead resistance. The immediate resistance level is at $1.50, and key support is at $1.43.
What do market analysts say?
According to market analysts, the current cryptocurrency is experiencing a severe decline as part of repositioning rather than panic selling. Moreover, macro news has also been affecting the crypto market over the past 12 months.
The Supreme Court’s decision on tariffs imposed by President Trump could induce instability in high-risk assets. Analysts consider the ruling expected on Friday, 20 February, could be a catalyst for the crypto market.
Additionally, the memecoin sector is under significant pressure. Coins like Dogecoin (DOGE) experienced a downward trend. It is also influenced by Bitcoin’s current plunge and its struggle to maintain the $70,000 mark. BTC price downside has triggered liquidations across the cryptocurrency market.
Bottomline
As we discussed in this article, Ethereum (ETH), XRP, and Dogecoin (DOGE) have experienced a price decline since the beginning of 2026. Analysts are wondering whether the crypto market will bounce back if Bitcoin prices stabilize and regain investor confidence. The overall market is influenced by BTC’s overall condition, and if it loses the key support level, it would affect the entire crypto market. If BTC makes a recovery, it could boost investor confidence and prevent further panic selling.