Meme Coins Surge: Dogecoin and Pepe Lead the Charge

As the meme coin market cap reaches $116 billion, Dogecoin (DOGE) and PEPE have emerged as frontrunners. Dogecoin has soared by nearly 250% in the past 30 days, while PEPE has experienced a remarkable 100% growth in the past 24 hours.

With Dogecoin's market cap approaching $58 billion and PEPE standing at $10.21 billion, speculation arises about their potential to drive the next crypto market surge.

PEPE Eyes $0.00010 Barrier

PEPE's daily chart indicates a breakout from a falling channel pattern. Two consecutive bullish engulfing candles have propelled it above the 38.20% Fibonacci level.

Its bullish rally has led to a price jump of over 200%, challenging the 50% Fibonacci level at $0.000025. PEPE currently trades at $0.000024 with an intraday gain of 17.79%, setting a new all-time high of $0.00002567.

The bull run commenced with a morning star pattern near $0.00000718, resulting in nine consecutive bullish candles. The breakout from the falling channel forms a bullish flag pattern, indicating significant potential.

Moreover, PEPE's recent listing on Coinbase and Robinhood has fueled bullish sentiment. The weekly MACD and signal lines also support a positive crossover. According to Fibonacci levels, PEPE's upside target is set at $0.0000104, potentially replicating its bullish run of early 2024.

Dogecoin (DOGE) Aims for $1

Similar to PEPE, Dogecoin has exhibited a bullish rally. In the weekly chart, five consecutive bullish candles have led to a 253% price increase.

The bull run emerged near the $0.111 mark, with a morning star reversal from the $0.10 psychological level. DOGE has surpassed the 78.60% Fibonacci level at $0.3468 and currently trades at $0.39368 with a week-to-date gain of 41.65%.

This movement marks a rounding bottom breakout rally, supported by a 61.80% Fibonacci level neckline. Dogecoin's 52-week high and the positive MACD and signal line crossover indicate strong buying pressure.

Heading towards its all-time high of $0.7390, DOGE's momentum suggests a new high. Fibonacci retracement tools indicate upside targets at $1 and $2.38.

For more Dogecoin price predictions, refer to our comprehensive analysis.

FAQs

What are the upside targets for Dogecoin?

Based on Fibonacci retracement levels, Dogecoin's upside targets are $1 and potentially $2.38.

What support levels and patterns contribute to PEPE's bullish rally?

The rally began with a morning star pattern and a falling channel breakout. PEPE currently challenges the 50% Fibonacci level, demonstrating solid bullish support.

What drives PEPE's current price surge?

A falling channel breakout rally, two consecutive bullish engulfing candles, and a positive MACD signal line crossover contribute to PEPE's price surge.