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▲ Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE) ©
The meme coin market is stirring again. Dogecoin and Shiba Inu are on the verge of breaking through key resistance levels, while Pepe continues its rebound, fueling expectations for further gains.
According to FXStreet, an investment media outlet, on April 21 (local time), Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) are all showing bullish signals with improving technical indicators. The analysis suggests that major meme coins are all located near key resistance levels, entering a short-term directional decision zone.
Dogecoin is approaching its 50-day Exponential Moving Average (EMA) near $0.095, making its breakthrough a critical variable. The RSI has recovered above neutral at 52, and the Moving Average Convergence Divergence (MACD) is also showing a bullish signal. If this level is broken on a closing basis, there is potential for an increase to $0.105, but failure could lead to a correction down to $0.080.
Shiba Inu has entered a test phase for the $0.0000060 resistance level. After consolidating within the $0.0000056-$0.0000063 range recently, a breakout above the upper bound could lead to an upward trend towards $0.0000065. While RSI and MACD also support a moderate upward momentum, failure to break resistance could see it fall back to the lower end of the range.
Pepe confirmed support at its 50-day EMA of $0.0000036 and has rebounded to $0.0000037, continuing its recovery. After breaking above the downtrend line, it has maintained an upward structure, and a breakthrough of $0.0000040 could open up further upside potential to $0.0000052.
Overall, the meme coin market is assessed to have entered the initial phase of a technical rebound. However, as all assets share a structure where direction is determined by 'whether resistance is broken,' analysis suggests a high probability of entering a period of increased short-term volatility.
*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.*
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