Predictions for the top 3 meme coins: DOGE breaks out, igniting the bounce back wave of SHIB and PEPE

The meme coin market is witnessing a strong bounce back wave, with Dogecoin, Shiba Inu, and Pepe leading the trend. Dogecoin has become the center of attention as it prepares for the launch event of the ETF named DOJE on Thursday, which ignites investor enthusiasm for the entire meme coin group, while also providing momentum for Shiba Inu and Pepe to recover. Technical signals continue to remain positive, revealing sustainable growth prospects as market momentum is bolstered by new breakout movements.

Derivative traders are increasingly interested in meme coins

Data from CoinGlass shows that the open contract (OI) of derivatives related to Dogecoin, Shiba Inu, and Pepe is booming. Specifically, DOGE recorded a strong increase, rising from 3.31 billion USD on Sunday to 4.33 billion USD. Meanwhile, the OI of SHIB also climbed from 173.75 million USD to 209.45 million USD.

Not to be outdone, PEPE reached 659.74 million USD, compared to 545.77 million USD previously. This trend clearly reflects the growing risk appetite of investors, especially after Dogecoin became the first meme coin in the US to have an ETF launched by Rex Osprey.

The OI of the TOP 3 meme coins | Source: Coinglass## Dogecoin breaks out strongly ahead of the ETF launch

Dogecoin has just wrapped up an impressive week of bounce back, building excitement ahead of the launch event for the DOJE ETF on Thursday, just as predicted by Eric Balchunas – an ETF expert at Bloomberg.

On the daily chart, DOGE has broken above the downtrend line, breaking through the 0.25000 USD level and approaching the important resistance level of 0.25574 USD – the peak established on August 14. If successful, this meme coin could extend its upward momentum to the pivot R2 level at 0.28659 USD.

DOGE/USDT daily chart | Source: TradingViewThe upward momentum is reinforced by the RSI indicator maintaining an upward trend, currently at 63 and still has some room before entering the overbought zone. At the same time, the MACD continues to send positive signals as the green histogram expands and the moving averages maintain their upward momentum.

Conversely, in the scenario where DOGE cannot conquer the milestone of 0.25574 USD, the price is likely to bounce back to test the central pivot area at 0.21930 USD.

Shiba Inu aims for the 200-day EMA

Shiba Inu is clearly benefiting from the strong bounce back of Dogecoin, recording a series of 5 consecutive rising sessions. From the 100-day EMA at 0.00001297 USD, SHIB has bounced up nearly 1% as of the announcement on Thursday.

The current uptrend positions the 200-day EMA at 0.00001384 USD as the next key resistance, while also opening up additional growth potential of about 5%.

Daily SHIB/USDT Chart | Source: TradingViewTechnical signals also reinforce this outlook: the RSI index has crossed the neutral threshold, reaching 56, indicating that buying pressure is increasingly dominant. At the same time, the MACD line is approaching the zero threshold and starting to converge with the signal line, signaling a clearer potential shift towards an upward trend.

However, risks still exist. If SHIB loses the 50-day EMA at 0.00001276 USD, the downtrend could restart, pulling the price back to the support area of 0.00001166 USD.

Pepe faces challenges at the 50-day EMA

Pepe paused after a 2% increase on Wednesday, thus regaining the important psychological level of 0.00001000 USD. However, the rally of the meme coin inspired by the green frog is facing challenges at the 50-day EMA line at 0.00001062 USD, while also being pressured by the 100-day and 200-day EMA lines, which are still in a downward trend.

If it successfully breaks through the 200-day EMA at 0.00001098 USD, PEPE could extend its bounce back towards 0.00001266 USD – a price range that was last tested on August 14.

Daily PEPE/USDT Chart | Source: TradingViewTechnical indicators are reinforcing an optimistic scenario: RSI remains at 53, above the neutral threshold of 50, reflecting increasing buying pressure. Additionally, the MACD line and signal line continue to rise after forming a bullish crossover on Sunday, indicating that the recovery trend is still supported.

On the contrary, in the case of PEPE failing to break through the resistance at the 50-day EMA line (0,00001062 USD), the price may return to test the support zone of 0,00000900 USD.

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