- Dogecoin, Shiba Inu, and Pepe lead the meme coin rally with recent breakouts.
- Technical indicators suggest potential bullish trends, but caution is advised for investors.
- Watch key resistance levels to make informed trading decisions amid market volatility.
The meme coin market is on fire as Dogecoin, Shiba Inu, and Pepe lead the altcoin rally. The 3 coins broke through key resistance levels.
If you want to catch the meme coin wave, keep your eye on these three frontrunners. Let's analyze technical outlooks of these 3 coins to help you make informed decisions.
Dogecoin (DOGE)
Source: Trading View
Dogecoin (DOGE) broke out of a falling wedge pattern, currently trading around $0.123. If this breakout holds, DOGE could rally another 15% to retest the $0.141 resistance level.
The Moving Average Convergence Divergence (MACD) indicator backs up this rise. Rising green histogram bars above zero indicate that momentum is strong.
However, the Relative Strength Index (RSI) is close to the overbought level of 70, which could signal a pullback. If DOGE drops below $0.115, the bullish outlook may fade. In that case, DOGE might find support around $0.078.
Shiba Inu (SHIB)
Source: Trading View
Shiba Inu (SHIB) has been on a tear. After breaking above a symmetrical triangle pattern, the price surged 29%. Currently, it’s holding steady at around $0.000019.
If the price stays above $0.000016, SHIB could retest $0.000020 and possibly reach $0.000023. The MACD also supports this bullish trend. But be cautious—the RSI is above 80, indicating that a price pullback could happen soon.
If SHIB falls below $0.000014, the bullish momentum could weaken. This could lead to a drop down to retest the $0.000012 level.
Pepe (PEPE)
Source: Trading View
Pepe (PEPE) is trading up 12% at $0.0000106 after breaking through key Fibonacci levels. If the price holds above $0.0000104, PEPE could rally by 23% to retest its July high of $0.0000131.
The MACD and RSI signal strong bullish momentum. However, with the RSI over 70, a price correction could be imminent. PEPE might retest the September lows at around $0.0000069 if the price drops below $0.0000078.
Dogecoin, Shiba Inu, and Pepe are leading the meme coin rally with recent breakouts. However, volatility could lead to significant price corrections so investors should tread cautiously.
The post These 3 Coins Are Leading the Meme Coin Rally: DOGE, SHIB, PEPE appeared first on Crypto News Land.