🐶 Memecoins Roar Back — DOGE, SHIB, PEPE Rally on Risk-On Revival
Dogecoin rises over 5% on Monday, indicating a positive week after falling last Thursday.
A wedge breakthrough by Shiba Inu suggests a trend reversal and bullishness.
Pepe maintains above a key psychological support to rebound, producing a MACD buy signal.
On Tuesday, meme cryptocurrency market capitalization reached $62 billion, up 6%. On Monday, Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) rose over 5% and 8%, respectively.
Dogecoin breaks bearish channel, targets $0.20
DOGE breaks above the resistance trendline created by the May 23, May 29, and June 8 peaks on the 4-hour price chart below. The price broke a falling channel and built a parallel support trendline with lows on May 20, 31, and June 5.
Dogecoin is down under 1% on Tuesday, indicating a small pause. Imagine the meme coin finishes over the 4-hour chart's highest weekly closing at $0.1975. With $0.2145 as immediate barrier, investors may purchase.
If $0.1975 reverses, the broken trendline at $0.1822 may correct. If DOGE closes below $0.1822, investors may sell at $0.1642, last touched on May 6.
Shiba Inu breaks wedge pattern.
Despite a recovery off the $0.00001230 support floor and the late May reversal, SHIB fails to break the 4-hour chart weekly high at $0.00001329. SHIB might reach $0.00001393, a key support floor last month, if it breaks over this barrier.
A drop below $0.00001230 support might continue the decline to $0.00001029, April's low.
Pepe trend reversal has huge upside.
The leading meme currencies rose over 8% on Monday, led by Pepe's fourth straight bullish candle. The frog-themed Ethereum-based meme currency recovers from Thursday's flash fall and closes above $0.000010 psychological support for the week's highest price.
PEPE trades at $0.00001253 beneath the 50% Fibonacci level at $0.00001681, retracing from the all-time high at $0.00002836 to the year-to-date low at $0.00000525.
#DOGE #SHIB #MarketRebound #TrumpVsMusk #PEPE $PEPE $DOGE $SHIB
