Will Shiba Inu & Pepe Memecoins Break Key Resistance Levels?

The post Will Shiba Inu & Pepe Memecoins Break Key Resistance Levels? appeared first on Coinpedia Fintech News

The memecoin category has zoomed notably in the last 24 hours, with a market cap jump to $67.76 billion. Meanwhile, the trading volume rose by 5.93% to $12.16 billion. Among the top performers are Shiba Inu (SHIB) and Pepe (PEPE), both attracting investor traction on the back of whale activity, bullish technicals, and altcoin rotation. If you are considering buying any of these, then this short-term price analysis is a must-read for you.

Shiba Inu (SHIB) Price Analysis

SHIB price on the 4-hour chart is showing strong bullish momentum after breaking above its 50-day moving average. This spike was assisted by a 29.7% surge in trading volume. That’s not all, adding fuel to the growth, whale transaction count jumped a staggering 350% over the past 10 days. 

Technically speaking, 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 being said, SHIB price could test the 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 price could attempt a breakout beyond $0.000014 mark.

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