The meme coin market has caught fire again in the past week. Dogecoin ($DOGE ), Shiba Inu ($SHIB ) and Pepe ($PEPE ) have given hope to investors with double-digit increases on a weekly basis, but they have started the new week cautiously. These three crypto assets, which reached peak levels on Sunday, are facing strong resistance levels as of Monday. Technical indicators are giving signals for both the continuation of the rise and possible corrections.
đ¶ Dogecoin (#DOGE ): $0.17 Wall Cannot Be Overcome
DOGE started the week with a 1% decrease after an impressive 12% increase last week. The resistance at $0.17, which has been tested but could not be broken since June 19, has once again slowed down the rise.
The MACD Indicator has crossed into the positive zone and created a bullish crossover. This situation indicates the beginning of a possible uptrend.
The RSI value is moving away from the oversold zone by rising to 44. The selling pressure has been signaled to decrease.
đ However, if DOGE fails to break this resistance, the $0.14 support tested on June 22 could resurface.
đ Conversely, if the $0.17 level is broken with the daily close, the psychologically important $0.20 level could be targeted.
đâđŠș Shiba Inu (#SHÄ°B ): Trendline Broken, Lack of Momentum Evident
SHIB also showed the strength of the bulls by gaining 12% last week. However, at the time of writing, the price is struggling to maintain the 2.77% rise experienced on Sunday and is down about 2%.
SHIB has broken above the falling trendline connecting the May highs.
All eyes are now on $0.00001200, which represents the June 5 closing level.
A close above this resistance could take the price to the 50-day EMA of $0.00001252.
đŽ In the negative scenario, if the opening level of Sunday is broken below $0.00001155, the trend breakout may be considered invalid and the price may fall back to the support area of $0.00001000.
đž Pepe (#PEPE ): Difficulty at Resistance After 17% Weekly Gain
PEPE, which rose by 17% last week, started Monday with a 2% drop, although it experienced an 8.90% jump on Sunday. A critical resistance trend line has still not been broken.
This resistance is defined by the trend line drawn through the peaks of May 23 and June 10.
If it is broken, the first target could be $0.00001196, the low of May 17.
The MACD indicator gave a trend reversal signal by providing a positive cross as of Sunday.
The RSI rose to 46, indicating a neutral â but potentially recovering â ground in the market.
đ Short-term negative closes could pull PEPE back to the $0.00000900 support area.
đŻ Conclusion: Is a Breakout Coming?
DOGE, SHIB, and PEPE are currently holding onto clear technical levels. Indicators like MACD and RSI are showing that a potential rally is underway. However, all eyes are on the critical resistance areas:
$0.17 for DOGE
$0.00001200 for SHIB
Trendline + $0.00001196 for PEPE
As long as there are no sustained daily closes above these levels, short-term corrections are inevitable. However, if a breakout occurs, a new bullish wave could be triggered in the meme coin market.
đą Note: This article is not investment advice. Crypto assets carry high risk. You should make your investment decision by doing your own research.
