DOGE, SHIB, PEPE Aim for More Gains as Bitcoin Hits All-Time High Above $72,000

Meme Coins Surge as Bitcoin Breaks $72,000

Meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) are experiencing significant gains, all exceeding 4% as of Monday. This surge mirrors Bitcoin’s (BTC) upward trajectory, which has surpassed $72,000. Investor risk appetite is clearly on the rise, fueling a diversified capital inflow into the meme coin sector, pushing its market capitalization above $69 billion.

With DOGE, SHIB, and PEPE showing strong upward momentum, traders are anticipating a sustained rally. Technical analysis suggests a bullish outlook if these meme coins can maintain their current momentum.

Dogecoin Recovers Above $0.20

Dogecoin has appreciated by over 4% as of Monday, successfully breaking above its 200-day Exponential Moving Average (EMA) at $0.2028, following a rounded bottom reversal pattern.

A decisive daily close above this dynamic line could propel DOGE towards the $0.2145 resistance level, last tested on Friday. If Dogecoin overcomes this hurdle, it could target the psychological level of $0.2500, followed by the May 11 high of $0.2597.

Technical indicators point to increasing bullish momentum. The Relative Strength Index (RSI) is at 67 on the daily chart, slightly below the overbought zone. The Moving Average Convergence Divergence (MACD) indicator shows rising histogram bars above the zero line.

However, if Dogecoin fails to hold above the 200-day EMA at $0.2028, it could extend its decline towards the 100-day EMA at $0.1901.

Shiba Inu Aims for Further Gains Amid Growing Bullish Momentum

Shiba Inu has rebounded from its 100-day EMA, gaining over 4% as of Monday, signaling a positive start to the week. This recovery is gaining traction after multiple Doji candles appeared since Friday, as SHIB retested the 100-day EMA.

The meme coin is targeting the immediate resistance level of $0.00001421, which previously acted as a crucial support level in late May. A daily close above this level could see investors targeting $0.00001567, last tested on May 23. The 200-day EMA at $0.00001452 remains a short-term resistance.

The RSI is at 68 on the daily chart, approaching the overbought zone, while the MACD indicator shows increasing bullish momentum with rising histogram bars above the zero line.

If SHIB corrects and closes below the 100-day EMA, it could retest the 50-day EMA at $0.00001248.

Pepe’s Golden Cross Suggests Extended Rally

Pepe is leading the meme coin rally with a 6% increase as of Monday, following a quiet weekend marked by Doji candles near $0.00001200. Pepe’s recent breakout from a descending triangle is gaining momentum amid increasing bullish signals on the daily chart.

If Pepe surpasses the $0.00001362 resistance level, last tested on June 10, it could extend its rally towards the May 23 high of $0.00001632.

Investors on the sidelines might consider the 50-day EMA crossing above the 200-day EMA as a buy signal, indicating that a short-term trend is outpacing the long-term slowdown. Technical indicators maintain a bullish bias, with the RSI at 68, approaching overbought conditions, and the MACD and signal lines crossing above the zero line.

Conversely, if PEPE retraces below the $0.00001196 support level, last tested on Saturday, it could extend its decline towards the 200-day EMA at $0.00001094.