Dogecoin, Shiba Inu and Pepe Prices Rise Following Market Gains

Dogecoin, Shiba Inu, and Pepe posted gains on Thursday, extending a rally that began the previous day and coincided with US Treasury bond buybacks [1]. The move marks a shift in momentum for the meme coin sector, which has recently faced volatility across other tokens like Mother Iggy and DOGS [3].

Technical momentum and price levels

Dogecoin rose over 2% on Thursday, trading at $0.0760 and maintaining a position above its 50-day Exponential Moving Average (EMA) of $0.0735 [1]. While the coin has shown a constructive near-term tone, it remains capped below its 100-day EMA of $0.0802 and its 200-day EMA of $0.0960 [1]. Market indicators show the Relative Strength Index (RSI) at 67, nearing overbought territory, while the Moving Average Convergence Divergence (MACD) has risen above the signal line, reflecting increased upside momentum [1].

Shiba Inu extended its gains by 4% on Thursday, building on a 7% rise from the previous day [1]. The token is currently recovering above the 23.6% Fibonacci retracement level of $0.00000456 [1]. Meanwhile, Pepe outperformed other dog-themed meme coins with a 9% increase, testing a breakout above its July 15 high of $0.00000314 [1]. Pepe’s RSI sits at 68, mirroring the near-overbought conditions seen in Dogecoin [1].

Broader market context

The recent price action follows a period of broader market uncertainty for meme coins, where tokens such as Mother Iggy (MOTHER), DOGS, and BRETT have experienced sharp corrections [3]. Analysts have previously suggested that altcoins remain undervalued relative to Bitcoin, noting that significant market cap gains may still be possible if Bitcoin continues to strengthen [2]. While some market participants view these assets as having potential for significant returns, others point to the "bear market stigma" that can lead to underestimated valuations [2].

What to watch

• Dogecoin Resistance: Monitor whether the price can sustain a breakout above the 100-day EMA of $0.0802, which serves as the initial barrier before the $0.0867 level [1].
• Pepe Breakout: Watch for a decisive daily close above the $0.00000314 level, which could signal a move toward previous swing highs of $0.00000348 and $0.00000384 [1].
• Shiba Inu Recovery: Observe if the token maintains support at the 23.6% Fibonacci retracement of $0.00000456 to sustain its current recovery trend [1].

The sustainability of this rally remains an open question as these assets navigate technical barriers and broader market sentiment. Whether these coins can maintain their current momentum depends on their ability to clear established resistance levels without triggering a deeper pullback to support floors.