Three Meme Coins on the Verge of Resistance Breakout, Will They Lead the Next Bull Market?

▲ Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE) ©

In the recent virtual asset market, the trio of major meme coins, Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), have all shown strong rebounds after bouncing off key support levels, signaling a full-fledged additional rally, drawing significant attention from investors.

According to FXStreet, an investment media outlet, on April 27 (local time), Dogecoin surged over 6% last week and firmly held the 50-day exponential moving average (EMA) at $0.096, continuing to trade above $0.100 as of Monday. If the upward trend continues, the next target price is expected to be $0.104, where the 100-day EMA is located. The Relative Strength Index (RSI) on the daily chart has surpassed the neutral level of 50, reaching 61, indicating bullish momentum, and the Moving Average Convergence Divergence (MACD) also shows a green histogram, supporting a positive outlook. On the other hand, if a correction occurs, the decline could extend to $0.096.

Shiba Inu also rose over 5% last week and is currently attempting to break through the upper resistance line of its range, formed at $0.0000063. If it decisively breaks and closes above this upper boundary on a daily basis, it could extend its rally towards the weekly resistance level of $0.0000068. Similar to Dogecoin, both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) support a positive trend, but if it fails to break above and encounters resistance, there is a risk of falling to the lower end of the channel at $0.0000056.

Pepe successfully rebounded by 6% last week, finding support at the 50-day exponential moving average of $0.0000037, which it had previously broken, and is now approaching the key resistance level of the 100-day EMA at $0.0000040. If it successfully closes above this price level on a daily basis, further upside is open to $0.0000050, which is the 200-day exponential moving average and roughly aligns with the daily resistance. Pepe's Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) also support a moderately bullish outlook, but if it faces downward price pressure, it could retreat to $0.0000037 again.

Consequently, all these major meme coins have successfully rebounded from significant support zones and are now on the verge of breaking through important resistance levels. Based on the positive market momentum, if these key resistance levels are decisively broken, a new upward wave for meme coins could be triggered.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*