According to the latest reports, Donald Trump, President of the United States of America, has imposed a 90-day halt on tariffs on 75 nations. Notably, the cryptocurrency market has faced a major setback due to the ongoing Trump tariff war.
With the news breaking, the cryptocurrency market experienced a massive bullish reversal. Moreover, the Bitcoin price is back above the $80,000 mark, with Ethereum price retesting its $1,600 mark. On the other hand, the XRP price has successfully reclaimed the $2 mark and the price of Solana has successfully retested the $100 mark.
Following in the footsteps, the memecoin segment displayed a similar price action by adding over 10% in valuation. At the time of writing, the meme coin market was valued at $44.53 billion with a 24-hour jump of 10.53%. With this, top memecoins such as Dogecoin ($DOGE), Shiba Inu ($SHIB), and Pepe ($PEPE) are back under the limelight of the crypto space.
With questions like “Why is crypto market rising?” and “Will memecoins come back?” investors are back in the game with a high possibility of a major crypto run this year.
DOGE Price Reclaims The $0.160 Mark!
Dogecoin price today has soared by over 12% in 24 hours with a trading volume of $2.196 billion, a change of 15.27%. At the time of writing, the largest meme coin was exchanging hands at $0.160 with a market cap of $23.82 billion. Moreover, the DOGE price is on the verge of testing its important resistance of $0.164, the outcome of which is uncertain.
The Relative Strength Index (RSI) has displayed a sharp rise toward its overbought range in the daily time frame. Moreover, its SMA indicator is on the path of experiencing a similar trend. This suggests a positive outlook for the largest meme coin this week.
Maintaining its bullish action could push the Dogecoin price toward its upper resistance level of $0.20 by the upcoming weekend. However, a bearish pullback could result in this altcoin plunging toward its crucial low of $0.1297.
Shiba Inu Price On The Verge Of A Major Breakout?
SHIB price today has successfully retested its crucial support level of $0.00001025. This has resulted in it recording a surge of 12.81% over the past 24 hours. With a jump of about 57% in its intraday trading volume, the Shiba Inu memecoin is currently listed for trading at $0.00001197.
The Simple Moving Average (SMA) has recorded a bullish crossover in the SHIB price chart. With the 14-day RSI trendline heading toward the overbought range in the daily time frame, the price of SHIB memecoin may continue gaining value in the upcoming time.
Suppose, the market favors the bulls, in that case, the Shiba Inu meme coin may prepare to retest its resistance level of $0.00001325. On the flip side, a bearish reversal could pull the price of this meme project toward its immediate support zone of $0.00001150.
Pepe Memecoin Jumps 17% In 24 Hours!
The Pepe price has outrun top memecoins by adding 17.36% to its valuation amid the ongoing bullish recovery in the crypto space. With a 24-hour trading volume of $1.170 billion, the Pepe coin price is on the verge of achieving a market cap of $3 billion.
The technical indicators SMA & RSI have witnessed a strong bullish reversal in their respective charts. This suggests a sudden spike in the buying-over-selling pressure for the 03rd largest memecoin by market capitalization.
A sustained bullish action could push the price of Pepe memecoin toward its price target of $0.00000735 within the upcoming days. An intensified positive influence could push the price toward its upper high of $0.00000825. Conversely, a negative action could result in the memecoin crashing toward its low of $0.00000635.
Also Read: U.S. Stocks Jump a “Crypto Market Cap” on Trump’s Tariff Pause News
