The meme coin market is back in focus following a surprise policy turn from President Trump's administration. The suspension of tariffs on 75 countries has spurred investor confidence in cryptocurrencies.
Dogecoin Surges and Its Potential
Dogecoin, the largest meme coin by market capitalization, jumped 12% to reclaim the $0.160 mark, with $2.1 billion in trading volume. At present, DOGE stands at $0.157. However, the RSI on the daily chart is in overbought territory, indicating a possible run to $0.20 if bullish pressures hold.
Shiba Inu Gains and Technical Analysis Influence
Shiba Inu is also on the rise, up 12.81% over the last day, trading at $0.00001197 and above the short-term SMA. The active discussion within the SHIB community regarding Shibarium is critical as price follows market sentiment.
PEPE Shines with a Sharp Spike
The biggest gainer is PEPE, increasing 17.36% in 24 hours with a trading volume of $1.17 billion. Currently, PEPE stands at $0.00000678, attributed to rekindled market enthusiasm and momentum trading.
Meme coins are once again capturing attention, fueled by macroeconomic shifts and social media activity. While this rise is significant, the inherent volatility of meme cryptocurrencies should be considered, along with their dependence on overall market sentiment.
