DOGE, SHIB, and PEPE all surge simultaneously, following Bitcoin's recovery trend

Popular meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) all surged simultaneously during Tuesday’s trading session, recording impressive increases from 7% to 14%, thereby fueling hopes for a bullish reversal. While DOGE and SHIB temporarily stabilize to consolidate the recent recovery, PEPE – the frog-themed meme coin – continues to extend its gains, sending clear signals of positive growth potential in the near future.

Dogecoin Approaching a Key Resistance Level

Dogecoin continues its recovery momentum, maintaining above the 50-day exponential moving average (EMA) at $0.1433 after an 8% breakout on Tuesday. On Wednesday, DOGE extended its upward momentum, approaching the critical psychological level of $0.1500, indicating that buying pressure remains dominant following the strong rally.

On the upside, this meme coin with the dog symbol is likely to face notable resistance at $0.1568 – a zone that has repeatedly halted its advance in late November and early December. In a positive scenario, if DOGE successfully breaks this level, the price could extend its rally toward the 200-day EMA around $0.1786.

Daily DOGE/USDT Chart | Source: TradingView Technical indicators on the daily timeframe are signaling a bullish trend. The Relative Strength Index (RSI) has risen to 59, staying above the neutral zone but not yet overbought, reflecting increasing buying pressure. Meanwhile, the MACD indicator continues upward, maintaining a distance from the signal line, indicating a clear improvement in bullish momentum.

Conversely, if DOGE fails to sustain its upward move and reverses from the $0.1500 zone, the price may correct back to test the support at $0.1332 – the short-term low established on 21/11.

Shiba Inu’s Recovery Faces Resistance

Shiba Inu (SHIB) declined slightly by about 1% at the time of writing on Wednesday, as the market entered a correction phase following a 7% jump from the 50-day EMA at $0.00000838 during Tuesday’s session. Currently, this meme coin is stalling at the key resistance level of $0.00000924 – a price zone that has repeatedly acted as a “wall” preventing further gains since late November.

In a positive scenario, a decisive breakout above this resistance could open the door for further gains, pushing the price toward the 200-day EMA at $0.00001049.

Daily SHIB/USDT Chart | Source: TradingView From a technical perspective, signals are slightly favoring the bulls: the RSI remains around 59, while the MACD continues upward and avoids a bearish crossover with the signal line, indicating improving bullish momentum.

On the other hand, if selling pressure increases and SHIB loses the 50-day EMA support at $0.00000838, the price risks reversing to retest the November 21 low near $0.00000755.

Pepe Approaching the 200-Day EMA

Pepe continues its upward trend, recording approximately 2% gains at the time of writing on Wednesday, extending the 14% rally from the previous session. This frog-themed meme coin is now approaching the 200-day EMA at $0.00000738 – considered a short-term critical resistance zone.

Daily PEPE/USDT Chart | Source: TradingView The bullish outlook is further supported as the RSI reaches 66 and approaches overbought territory, indicating that buying momentum remains strong. Additionally, the MACD has crossed above the signal line and continues to widen upward, reflecting an ongoing bullish trend.

In a correction scenario, the 50-day EMA around $0.00000537 is expected to serve as a key support zone, helping PEPE maintain its current trend structure.