bullish

Dogecoin

PEPE

Shiba Inu

The surge in the meme coin market has brought its total market cap to $56 billion. Meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), are showing strong bullish prices with increased whale activity.
Technical analysts hint that DOGE is experiencing a falling wedge breakout, as PEPE also sees increased transactions valued at $100,000 or more.
<h3 id="span-data-preserver-spaces-true-meme-coins-market-cap-has-surged-by-19-span">Meme coins market cap has surged by 19%</h3>
The cumulative market cap of the meme coin market has been in the green after gaining around 19% in one day. The meme market capitalization <a class="editor-rtfLink" href="https://www.coingecko.com/en/categories/meme-token" target="_blank" rel="noopener noreferrer nofollow">stands</a> at a massive $56 billion as of today. The top gainers in the 24-hour timeframe include <a href="https://www.cryptopolitan.com/dogecoin-price-forecast-2025-why-doge-wont-break-1-check-out-these-2-rival-coins-ready-to-make-you-15x-richer/" rel="noopener noreferrer nofollow">Dogecoin</a>, Shiba Inu, <a href="https://www.cryptopolitan.com/pepe-price-outperforms-dogecoin-shiba-inu-heading-into-uptober/" rel="noopener noreferrer nofollow">Pepe</a>, and dogwifhat (WIF) among other meme coins, as per CoinGecko data.
At the time of writing, DOGE has gained 8% in 24 hours while SHIB is inching towards 16% gains. Pepe has also added 16% to its value while DOG on Runes has gained a massive 23%. In the meme coin category, there are various double-digit and even triple-digital performers. BitMEX founder <a class="editor-rtfLink" href="https://x.com/CryptoHayes/status/1839554799873774046" target="_blank" rel="noopener noreferrer nofollow">Arthur Hayes</a> is predicting a meme coin breakout season. And the potential has also led him to accumulate PEPE. Meanwhile, analysts underline that DOGE and PEPE have entered a bullish leg.
Technical crypto analyst Captain Faibik notes that Dogecoin has completed a falling wedge pattern as the price forms lower highs and lower lows within converging trend lines. The bullish technical pattern often signals a potential upward breakout due to reversal.
<blockquote class="twitter-tweet" data-theme="dark">
 <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$DOGE</a> is getting Ready for Another Bullish leg.. 📈
 A successful breakout could send it to $0.20 <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Crypto</a> <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#DOGE</a> <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Dogecoin</a> <a href="https://t.co/ahFxRt2r6j" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/ahFxRt2r6j</a>
 — Captain Faibik 🐺 (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1838063657910960134?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">September 23, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h3 id="span-data-preserver-spaces-true-doge-span-span-data-preserver-spaces-true-and-span-span-data-preserver-spaces-true-pepe-reveal-bullish-indicators-span">DOGE and PEPE reveal bullish indicators</h3>
The post predicts that this breakout could take Dogecoin’s price to $0.20. At press time, DOGE has a 24-hour price range of $0.1334 and $0.1236 on CoinGecko. PEPE could be following a similar trajectory. The Relative Strength Index (RSI) indicated in the 1-day chart of PEPE/USD reveals the meme coin is moving in the overbought zone.&nbsp; RSI above 70 often indicates impending profit-taking. However, the price uptrend at the time of writing does not show a reversal. This means that buying could continue with a potential price rise.&nbsp; 
Amid the meme coin explosion, meme whales have been active in the market. <a class="editor-rtfLink" href="https://x.com/ali_charts/status/1839230005861023958" target="_blank" rel="noopener noreferrer nofollow">Santiment</a> charts as cited by analyst Ali Martinez revealed that Dogecoin whales accumulated 1.40 billion tokens worth close to $140 million in just 2 days. In the last 24 hours, IntoTheBlock data shows that there were 417 large PEPE transactions valued at $100,000 or more. The highest number of large transactions within the last 7 days peaked at 417 on September 26.

Meme coin market gains 19%, DOGE, PEPE indicate bullish price action

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