Meme Coins Recover: DOGE, SHIB, PEPE Push Toward More Upside - Cryptured.com

When bullish momentum reappears and Bitcoin (BTC) reaches a new all-time high, meme coins Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) continue to grow.

Technically, meme coins are still looking positive as DOGE approaches a significant resistance level, and SHIB and PEPE anticipate more increases in the wake of recent breakthroughs.

DOGE Approaches Key Breakout on Rounding Bottom Setup

After jumping 5.61% the day before, Dogecoin is still unsure at the time of writing on Thursday, making a doji candle. As the neckline of a rounding bottom pattern, the critical resistance of $0.1811 might have provided a short-term cushion for DOGE’s rebound.

Usually, following a dominant decline, the rounded bottom pattern predicts a bullish reversal. Targeting the June 10 high of $0.1987, the rounding breakout would be indicated by a positive daily close above this level.

Slightly above the midway level, the daily chart’s Relative Strength Index (RSI) is 56, suggesting a positive ascent in trend momentum.

The Moving Average Convergence/Divergence (MACD) indicator shows increasing trend momentum with green histogram bars. When the signal lines and rising MACD cross above the zero line, investors may view this as a possible buy signal.

The price may decline to the weekly low of $0.1658 if it is unable to rise above the $0.1811 mark.

Shiba Inu Eyes Upside as Bulls Take Charge

At press time on Thursday, Shiba Inu is up about 1%, continuing its 4.56% gain from Wednesday. The SHIB rebound rally, which began at the low of $0.00001004 on June 22, surpasses the round number of $0.00001200 and establishes a new 30-day high.

The June 10 high, or $0.00001337, is the immediate resistance that bulls aim to reach as the Shiba Inu trend reversal gains momentum.

At 57, the RSI is above its neutral zone and indicates that bullish momentum is increasing.

As the MACD and its signal line get closer to crossing above the zero line, the MACD indicator also exhibits a bullish bias.

In contrast, the potential downward trend below the weekly low of $0.00001145 could be extended by a SHIB reversal below the round $0.00001200.

PEPE Rally Builds on Reversal Signals

After the 8.44% increase on Wednesday, Pepe was up almost 0.50% at the time of writing on Thursday. According to the chart below, the meme coin has broken out of a falling triangle pattern, as FXStreet had previously mentioned.

PEPE’s breakout bounce from the May 17 low attempts to hit the $0.00001196 level as the upswing gains momentum.

As the RSI increases, approaching the overbought border and reading 57, the technical indicators suggest increased trend momentum. Simultaneously with the MACD and signal lines’ upward progress, the MACD indicator shows a positive trend in green histogram bars.

If PEPE fails to sustain the upward trend, prices may revisit the high activity price level of $0.00001037, which was last reached on July 3.