Meme Coin Explosion! DOGE, SHIB, PEPE, and BONK Surge, Breaking Key Technical Levels!

On Wednesday, the crypto market experienced a strong rebound, with top meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), PEPE, and BONK all soaring, with double-digit gains! These coins are facing a severe challenge at the 100-day moving average after breaking the 50-day moving average, and larger fluctuations may be expected in the coming days.

Dogecoin's increase exceeded 13%, breaking key downward trend lines and the 50-day moving average, with a target straight to $0.1809. If it breaks this resistance level, DOGE may reach new highs; however, the short-term RSI indicator is overbought, which may lead to a correction.

PEPE and SHIB also closely followed, breaking the 50-day moving average, but faced bottlenecks near the 100-day moving average, with potential short-term correction risks.

BONK surged over 20%, breaking the key resistance level of $0.00001579. If successful, it could see an additional 55% increase in the coming days. However, the short-term overbought condition increases market risks.

The rise of these meme coins is highly correlated with Bitcoin's movements, and investors need to pay attention to overall market trends and operate cautiously.