Leading memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) are exhibiting strong technical signals suggesting a potential bullish reversal, sparking renewed interest among investors.
Dogecoin has recorded a 5% price increase over the past week, successfully reclaiming the psychologically significant $0.20 level. Technical indicators for DOGE, including the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), point towards growing buying pressure.
Shiba Inu has also seen positive momentum, gaining approximately 2% in the last 24 hours. SHIB is currently trading within a triangle pattern, with its RSI and MACD similarly indicating strengthening bullish sentiment. A decisive breakout above the $0.00001340 resistance level could potentially propel SHIB towards higher resistance points at $0.0000160 and $0.00001925.
Market capitalization data underscores DOGE’s dominance within the memecoin sector, with its valuation nearing $30 billion. This figure represents nearly half of the total market share for memecoins.
Both assets are attracting heightened attention from large investors (whales) and retail traders. The current technical setups for DOGE and SHIB are viewed by market participants as presenting strategic entry points for potential trading opportunities.