Bitcoin climbing back above $70,000 has clearly lifted sentiment across the crypto market. With confidence returning, traders are once again rotating into higher-risk plays, and memecoins are among the biggest beneficiaries. The sector has jumped more than 12% in just 24 hours, with trading volume nearly doubling and total market capitalization rising from around $29 billion to close to $35 billion.
Dogecoin and Pepe are leading this renewed wave of interest, posting gains of nearly 20% and 15%, respectively. As the DOGE price pushes toward higher resistance levels and the PEPE price tests a key barrier on the chart, the big question now is whether this momentum can carry through the rest of the month or if resistance will slow the rally before a sustained breakout unfolds.
Dogecoin (DOGE) Price Analysis
Dogecoin’s volatility has picked up notably since the start of the year, leading to a breakout from its prolonged descending trend. The price recently tested the $0.15 resistance level but failed to secure a decisive close above it, triggering a short-term pullback. However, the rejection did not weaken participation. On-chain activity remains strong, with active addresses rising sharply from around 600,000 to nearly 970,000 — a clear sign of renewed network engagement.
Despite posting double-digit gains, DOGE’s next move now hinges on the immediate resistance zone between $0.11 and $0.12. A sustained breakout and close above this range could open the door to another attempt at $0.15, while failure to hold the momentum may keep the price trapped in consolidation.
DOGE price has rebounded from recent lows, but the daily chart shows it is still trading below a key horizontal range that previously acted as a strong base. Price action remains confined within a descending channel, keeping the broader structure cautious. However, momentum is improving, with RSI holding in the upper range and the DMI nearing a bullish crossover, indicating rising buying pressure. A breakout above $0.135 could confirm bullish intent. If this level is reclaimed as support, DOGE may initially target $0.18, followed by a move toward the $0.20 zone.
Pepe (PEPE) Price Analysis
PEPE price continues to trade under a long-standing descending structure on the daily chart, marked by multiple failed breakout attempts over the past year. Although the token recently witnessed a sharp rebound, the upside remains capped below a well-defined resistance zone and the descending trendline, which has consistently rejected bullish advances. The latest recovery briefly flipped the Supertrend indicator bullish, signaling short-term strength, but price action suggests the move lacks follow-through.
Notably, PEPE appears to be stuck in a distribution phase, with the Accumulation/Distribution line trending lower and printing a bearish divergence. This indicates that selling pressure is still dominant despite intermittent rebounds. As long as the price fails to reclaim the local and pivotal resistance levels around $0.00000514 and $0.00000545, bearish risks remain active. A decisive breakout above this zone is required to shift sentiment and open the path toward higher targets near the $0.000008 region.