- Crypto resurgence has lifted some of the top meme coins out of consolidation.
- SHIB, DOGE, and PEPE bounced from their low levels, breaking above significant resistance.
- PEPE has broken above a downward trendline that formed at the beginning of May.
The bullish resurgence in cryptocurrencies has lifted some of the top meme coins out of consolidation. SHIB, DOGE, and PEPE have all bounced from their low levels, breaking above significant resistance to initiate bullish trends.
PEPE’s arrival into the crypto space pushed other meme coins to the back seat. While the new entrant made all the noise and soared, top meme coins like SHIB and DOGE consolidated. However, the renewed vibe seems to be carrying the major players along.
PEPE, the memecoin established significant support at $0.0000008105. Multiple attempts to break below that price did not materialize, and the market direction has flipped over. With an upsurge, the novel meme coin broke above a downward trendline that formed at the beginning of May.
PEPE/USD Daily Chart on TradingView
Data from TradingView shows that PEPE traded at $0.0000014397 at the time of writing. The current chart formation suggests the price could climb higher unless something drastic happens in the crypto space.
After reaching a yearly high of $0.00001590 in February, SHIB descended into a protracted consolidation. Even when the majority of altcoins attempted a recovery, SHIB showed little upside momentum. However, the latest crypto market surge has pushed the flagship memecoin above significant resistance.
SHIB’s price dropped to $0.00000600 on Saturday, June 10, 2023, after which the resurgence began. Since then, SHIB has gained 37% and broken above a trendline that held it down since mid-April.
SHIB/USD Daily Chart on TradingView
SHIB traded at $0.00000821 at the time of writing, with momentum significant enough to push its price to higher levels.
DOGE found support at $0.0538 after breaking below previous support at $0.0626, established in March. With the recent surge, the dog-themed meme coin has recovered its losses from the drop and added some profit. It climbed above the previous support, which became resistance, and broke through a downward trendline.
DOGE/USD Daily Chart on TradingView
At $0.0682, DOGE sets up for a potential surge targeting the $0.0720 to $0.750 region. Above this level, DOGE could climb higher to set up a classic bullish trend accustomed to its history.
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