The cryptocurrency market has experienced a significant surge following a major development in global trade. U.S. President Donald Trump has imposed a 90-day freeze on tariffs affecting 75 countries, leading to a sharp market rebound. This comes after a series of tariff-related tensions that had previously impacted the cryptocurrency landscape.
In the wake of this announcement, Bitcoin has surged back above the $80,000 mark, Ethereum is testing $1,600, XRP has reclaimed the $2 threshold, and Solana has successfully reestablished its price at $100. Meanwhile, the memecoin sector is experiencing similar momentum, with a notable 10.53% rise in market valuation, now pegged at $44.53 billion.
As the crypto market continues to show signs of bullish movement, investors are revisiting the market, prompting discussions around the potential resurgence of memecoins. Top contenders in this category, including Dogecoin ($DOGE), Shiba Inu ($SHIB), and Pepe ($PEPE), are again drawing attention from traders and enthusiasts alike.
Dogecoin Reclaims $0.160: Bullish Momentum Builds
Dogecoin ($DOGE) has seen an impressive 12% price surge over the last 24 hours, with a trading volume of $2.2 billion and a notable increase of 15.27%. At the time of writing, the meme coin is trading at $0.160, with a market cap of $23.82 billion. DOGE is edging closer to a key resistance level at $0.164, with a potential breakout in the coming days.
The Relative Strength Index (RSI) is showing a sharp rise, nearing overbought territory, while the Simple Moving Average (SMA) indicator aligns with this upward trend. If Dogecoin continues its bullish trajectory, it could approach the $0.20 resistance level by the weekend. However, a downturn could send the coin back to its support level of $0.1297.
Shiba Inu Eyes Major Breakout After 12.81% Surge
Shiba Inu ($SHIB) has retested its critical support at $0.00001025, triggering a 12.81% surge in the last 24 hours. With a 57% increase in its intraday trading volume, SHIB is currently trading at $0.00001197. The 14-day RSI has crossed into the overbought range, signaling a potential continuation of its upward movement.
Should the bullish momentum persist, Shiba Inu may target its next resistance at $0.00001325. Conversely, a reversal could see it return to its immediate support level of $0.00001150.
Pepe Memecoin Leads with 17% Gain in 24 Hours
Pepe ($PEPE) has outpaced its memecoin counterparts, gaining a remarkable 17.36% in the last 24 hours. With a trading volume of $1.17 billion, the Pepe coin is approaching a market cap of $3 billion. Technical indicators, including the SMA and RSI, are both showing signs of a strong bullish reversal, suggesting an uptick in buying activity.
If this positive trend continues, Pepe could target a price of $0.00000735 in the near term. A sustained bullish influence could push it even higher to $0.00000825, while any bearish sentiment might pull the price down to $0.00000635.
As the memecoin sector continues to capture attention, the question remains: will these coins maintain their upward momentum, or will a reversal dampen the current rally?
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