Top meme coins like Pepe, Shiba Inu, and Dogecoin are rising today, becoming among the best-performing tokens in the market. Pepe token jumped to $0.0000053, its highest level since January and 140% from its lowest level this year. It jumped by 30% in the last 24 hours, making it the best-performing coin in the last 24 hours. 

Dogecoin jumped by 15% in the last 24 hours, reaching a high of $0.1056. It has soared by 47% from the year-to-date low, while Shiba Inu jumped to $0.00000627. Other top meme coins like Pudgy Penguins, Official Trump, and Bonk rose by over 5% in the last 24 hours. All meme coins tracked by CoinGecko rose, with the market cap hitting $37 billion. 

Pepe Coin, Shiba Inu, and Dogecoin rising as crypto rally continues

The primary driver for the ongoing meme coin is the risk-on sentiment in the industry. Bitcoin pumped to $88,000 on Monday after making a big breakout. Other top coins like Ethereum, XRP, and Solana also made a big bullish breakout.

Bitcoin jumped after Strategy resumed its Bitcoin purchases and as its ETF inflows surged. Spot BTC ETF inflows jumped by over $998 million on Monday, bringing this month’s inflows to $1.31 billion. Ethereum ETFs added $269 million, while Dogecoin ETFs added close to $1 million. 

Meme coins tend to react to Bitcoin moves. In most cases, they normally jump by a bigger rate whenever BTC is rising. They then retreat at a faster pace whenever Bitcoin is falling. 

The rally also coincided with the rising Fear and Greed Index, which moved to the greed zone of 77. Similarly, the Altcoin Season Index (ASI) jumped to 48 as many altcoins continued outperforming Bitcoin. 

Pepe Coin price technical analysis

Pepe chart | Source: TradingView

The daily chart shows that Pepe Coin price has done well in the past few months. After bottoming at $0.00000224 in July, it has rebounded to $0.0000050. 

The token has soared above the crucial resistance level of $0.0000045, its highest level of August 22nd. It is about to form a golden cross pattern, with the spread between the 50-day and 200-day moving averages crossing each other. 

These technicals suggest that the Pepe token has broken out. As such, it may drop and retest the support of $0.0000045, and then resume the upward trend, potentially to $0.0000072, its highest level in January.

Shiba Inu price prediction

SHIB price chart | Source: TradingView

Shiba Inu token has also crawled back in the past few weeks, moving from a low of $0.0000040 in August to a high of $0.0000062 on Monday. A closer look shows that it has formed an ascending channel made up of a series of higher highs and higher lows. 

The token has jumped above the 50-day moving average, a sign that bulls are prevailing. However, there is a risk that it has hit the crucial resistance at $0.0000062, which coincided with the highest swing on September 23. 

Therefore, there is a risk that SHIB will retreat modestly and then resume the uptrend, especially if Bitcoin cruises to $100,000.

Dogecoin price prediction

DOGE price chart | Source: TradingView

The daily chart shows that Dogecoin price has rebounded in the past few days. It rose after forming a falling wedge pattern, which is made up of two descending and converging trendlines. It has jumped above the 50-day moving average.

Technicals suggest that DOGE price will continue rising as bulls target the key resistance level of $0.1183, its highest level in May.

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