Meme Coins See Renewed Interest Amid Market Recovery
Meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) are trying to gain strength as the overall cryptocurrency market recovers. Data from derivatives markets shows growing retail demand. The Open Interest (OI) in DOGE, SHIB, and PEPE futures has increased recently, signaling more trading activity.
Dogecoin Faces Risk Near Consolidation Range
Dogecoin is trading near $0.14 after a slight recent drop. It remains within a consolidation range between $0.1332 and $0.1568. A clear close above $0.1568 could start a rally toward $0.1810. The Relative Strength Index (RSI) at 41 shows less selling pressure, while the MACD indicator points to rising bullish momentum. However, if DOGE falls below $0.1332, it may drop further to the $0.10 support level.
Shiba Inu and Pepe Show Mixed Signals
Shiba Inu recently bounced off support near $0.00000817 but is down about 1% with weak momentum indicators like RSI at 46. SHIB needs to break above $0.00000900 to confirm an uptrend that could push prices to $0.00001. Pepe remains in a downcycle within a range defined by support at $0.00000395 and resistance at $0.00000521. Its RSI at 45 shows neutral momentum. A rebound above $0.00000521 could lead to a test of $0.00000650 resistance.
