DOGE, SHIB, and PEPE Coin Analysis: Will the Rally Continue?
Release: 2024/09/27 22:04 Reading: 881
Market Analysis: Meme Coins Extend Gains
The top three meme coins by market capitalization, Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE Coin), have continued their upward trajectory on Friday following Thursday's price surge.
DOGE Price Outlook
Dogecoin broke out of a descending wedge pattern on Thursday and is currently trading near $0.123, its highest since early August. If the support at $0.115 holds, DOGE could rally by 15% to retest resistance at $0.141. The MACD indicator and green histogram bars indicate ongoing bullish momentum, but the overbought RSI suggests caution.
SHIB Price Analysis
Shiba Inu broke out of a symmetrical triangle on September 20, surging 29% in the following six days. After closing above $0.000016 on Thursday, SHIB continues to trade higher at $0.000019. If support at $0.000016 holds, SHIB could rally towards its September 16 high of $0.000020. The MACD and RSI indicate bullish momentum, but the overbought RSI signals potential correction soon.
PEPE Coin Price Action
Pepe broke above a descending trendline on September 20 and has gained 14.5% since then. It is currently holding above the 61.8% Fibonacci level at $0.0000104. If it closes above this level, PEPE could surge by 23% to retest its July 24 high of $0.0000131. The MACD and RSI indicate bullish momentum, but the overbought RSI suggests potential caution.
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