The top three meme coins by market capitalization—Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE Coin)—extended their gains on Friday following Thursday’s surge. According to cryptocurrency analyst Manish Chhetri, the technical outlook of these tokens suggests further upside potential.
DOGE Price Prediction: Dogecoin Breaks Wedge Pattern
On Thursday, Dogecoin broke out of a descending wedge pattern, trading near $0.123, its highest level since early August. If the breakout around $0.115 holds as support, DOGE could rally 15% to retest daily resistance at $0.141.
The MACD indicator on the daily chart has been showing a bullish crossover since September 9, supporting DOGE's bullish momentum. The green histogram bars rising above the zero line indicate that the bullish momentum is still continuing.
However, the Relative Strength Index (RSI) is approaching overbought levels at 70, suggesting that while the rally could continue, caution is needed as DOGE could face resistance.
If DOGE fails to hold support around $0.115 and drops below the September 16 low of $0.098, the bullish thesis will be invalidated, potentially pushing the price down to retest the weekly support at $0.078.
SHIB Price Prediction: Shiba Inu Holds Gains
Shiba Inu broke above a symmetrical triangle on September 20, rising 29% over the next six days. After closing above weekly resistance at $0.000016 on Thursday, SHIB continued to trade higher, currently around $0.000019. If the $0.000016 support holds, SHIB could continue its upward momentum, 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 the price could correct soon.
If SHIB fails to hold 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 Price Analysis: Bulls Remain Strong
Pepe (PEPE Coin) broke above a falling trend line on September 20, rising 14.5% over the next 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 to rise 23% to retest the July 24 high of $0.0000131.
The MACD on the daily chart shows a bullish crossover, with green bars rising above the zero line, indicating that buyers are in control. However, with the RSI at 74 and above the overbought level of 70, investors should be cautious of a possible price correction.
If PEPE closes below $0.0000078, it will create a lower low on the daily timeframe, invalidating the bullish scenario and extending the decline to retest $0.0000069.
