The memecoin market has seen a notable increase in the last 24 hours with a market cap reaching $67.76 billion. Trading volume has also risen by 5.93% to $12.16 billion. Prominent in this rise are Shiba Inu (SHIB) and Pepe (PEPE), showing traction due to whale activities and bullish technical signals.
Shiba Inu (SHIB) Price Analysis
SHIB's price on the 4-hour chart is showing strong bullish momentum after breaking above its 50-day moving average. This surge was supported by a 29.7% increase in trading volume. Additionally, whale transaction count spiked a staggering 350% over the past 10 days.
Technically, SHIB is hovering near the upper Bollinger Band, indicating potential overextension but also strength. The RSI at 60.46 shows bullish momentum without being overbought. That said, SHIB's price could test immediate resistance near $0.0000145, while support rests at $0.00001205.
Pepe (PEPE) Price Analysis
PEPE has emerged as a pioneer in this cycle, buoyed by Ethereum's recent rally that lifted many ERC-20 tokens. Whale accumulation and sustained interest have pushed PEPE's price close to the upper Bollinger Band. It is currently holding well above the middle band support at $0.00001245.
Looking at the 4-hour chart, PEPE continues to trade in a narrow range just below resistance at $0.000014. RSI sits at a healthy 61.83, showing bullish bias with no immediate signs of exhaustion. If the bulls hold above the $0.00001188 support, PEPE's price could attempt a breakout beyond the $0.000014 mark.
Frequently Asked Questions
****Will memecoin rally grow or a pullback is in store?**** With rising whale activity, Ethereum strength, and retail interest, the short-term rally appears sustainable, but profit-taking could trigger pullbacks.
****Which is stronger, SHIB or PEPE?**** Both show bullish setups, but PEPE has stronger momentum and a narrower consolidation near breakout zones.
****What’s the price target for SHIB and PEPE?**** SHIB targets $0.0000145, while PEPE eyes a breakout past $0.000014 if volume supports the move.
The memecoin market continues to draw interest due to whale activity and increasing retail investor engagement. Shiba Inu and Pepe are showing bullish dynamics, prompting potential analysis and reassessment of investment strategies.
