The top three meme coins by market cap—Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE Coin)—extended their gains on Friday following Thursday’s price surge. According to crypto analyst Manish Chhetri, the technical outlook for these tokens suggests further potential for gains.
DOGE Price Prediction: Dogecoin Breaks Out of Wedge Pattern
On Thursday, Dogecoin broke out of a descending wedge pattern, trading near $0.123, the highest level since early August. If the breakout level around $0.115 holds as support, DOGE could rise by 15% to retest the daily resistance at $0.141.
The MACD indicator on the daily chart has been showing a bullish crossover since September 9, supporting DOGE’s upward momentum. The rising green histogram bars above the zero line further indicate that upward momentum is continuing. However, the Relative Strength Index (RSI) is approaching the overbought level at 70, suggesting that while the rally may continue, caution is needed as DOGE may face resistance.
If DOGE fails to hold support around $0.115 and drops below the September 16 low of $0.098, the bullish thesis would be invalidated, potentially pushing the price down to retest the weekly support level at $0.078.
SHIB Price Prediction: Shiba Inu Holds Gains
Shiba Inu broke above a symmetrical triangle on September 20, gaining 29% in the following six days. After closing above the weekly resistance at $0.000016 on Thursday, SHIB continues to trade higher, currently around $0.000019. If the $0.000016 support level holds, SHIB could continue its rally, retesting the September 16 high of $0.000020.
The daily MACD indicator shows a bullish crossover, with the MACD line (blue) crossing above the signal line (yellow) on September 10. The green histogram bars rising above the zero line support the bullish case. However, the RSI is at 80, indicating that SHIB is in overbought territory. Investors should be cautious, as prices could correct soon.
If SHIB fails to maintain support at $0.000016 and closes below the breakout level of $0.000014, the market structure could shift from bullish to bearish, extending the decline to retest the September 18 low of $0.000012.
PEPE Coin Price Analysis: Bulls Remain Strong
Pepe (PEPE Coin) broke above a descending trendline on September 20, climbing 14.5% in the following six days. As of Friday, PEPE is holding above the 61.8% Fibonacci retracement level at $0.0000104, and trading at $0.0000106, up 12%. If PEPE closes above this Fibonacci level, it could continue rising by 23% to retest the July 24 high of $0.0000131.
The MACD on the daily chart shows a bullish crossover, with green histogram bars rising above the zero line, indicating that the bulls are in control. However, with the RSI at 74 and above the overbought level of 70, investors should be cautious of a potential price correction.
If PEPE closes below $0.0000078, it would create a lower low on the daily time frame, invalidating the bullish scenario and extending the decline to retest $0.0000069.
