Meme coins are showing renewed bullish strength this week, with Dogecoin surging over 9% last week and continuing to lead the pack. Shiba Inu and Pepe are also trading in the green on Monday, approaching their key resistance zones. A breakout from these levels could signal a fresh rally ahead.
Dogecoin extends gains after closing above key resistance
Dogecoin’s price is extending its gains, trading above $0.113 on Monday after surpassing the key 100-day Exponential Moving Average (EMA) at $0.104 last week. If DOGE continues its upward momentum, it could move toward the weekly resistance at $0.119.
The Relative Strength Index (RSI) on the daily chart is 78, above the overbought threshold and pointing upward, suggesting strong bullish momentum. The Moving Average Convergence Divergence (MACD) indicator also shows rising green histogram bars, supporting the positive outlook. However, if DOGE faces a correction, it could drop back toward the 100-day EMA at $0.104.
Shiba Inu consolidation could come to an end
Shiba Inu price found support around the 50-day EMA at $0.0000061 on Sunday and is extending gains, approaching the upper consolidation boundary at $0.0000064 as of Monday. If SHIB closes above this level on a daily basis, it could rally toward the 100-day EMA at $0.0000064. A firm close above that could extend gains toward the weekly resistance at $0.0000068.
The daily RSI reads 58, above the neutral 50 level but below the overbought threshold, indicating bullish momentum. The MACD also shows green histogram bars, supporting the positive outlook. If SHIB faces rejection and corrects, it could decline toward the 50-day EMA at $0.0000061.
Pepe nears key resistance zone
Pepe price is trading just above the 100-day EMA at $0.0000040 on Monday, after finding support at the daily support level of $0.0000039. If PEPE closes above the 100-day EMA on a daily basis, it could rally toward the 200-day EMA at $0.0000050, which roughly coincides with the daily resistance.
The RSI on the daily chart is 62, above the neutral 50 level, indicating bullish strength. The MACD also shows a bullish crossover with green histogram bars, supporting the positive outlook. On the other hand, if PEPE pulls back and closes below the 50-day EMA at $0.0000037, it could extend the decline toward the April 7 low at $0.0000033.
