Predictions for the top 3 meme coins: Dogecoin, Shiba Inu, and Pepe regain bullish momentum.

Meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) are regaining their heat, thanks to a strong influx of capital into the derivatives market. This sudden wave of excitement appears at the right moment as the Federal Reserve of America (Fed) decides to cut interest rates by another 25 basis points. From a technical perspective, initial signals are indicating the market's potential to enter a new upward phase, with upward momentum becoming increasingly evident.

Derive data shows increasing optimism

The price increase of meme coins is often associated with speculative factors, making them the most risky segment of the cryptocurrency market. However, the rising confidence from traders can be seen as an early signal for a new breakout.

Data from CoinGlass shows that the open contracts (OI) of DOGE, SHIB, and PEPE increased by 3%, 5%, and 7% respectively, reaching levels of 5.55 billion USD, 246 million USD, and 784 million USD. The strong cash flow into these top meme coins not only reflects the rising risk appetite but also indicates growing confidence in short-term recovery.

Source: CoinGlass## Dogecoin may surpass the 0.30 USD mark

As of the time of writing on Thursday, Dogecoin continues to maintain its strength after a breakout of 4.67% in the previous session. On the 4-hour chart, DOGE has surged from the support line established through the lows of September 9 and September 17, reinforcing the recovery signal.

The current uptrend is targeting the resistance area of 0.3146 USD – coinciding with the R2 pivot point – opening up a potential increase of nearly 10% if successfully surpassed.

DOGE/USDT chart 4-hour | Source: TradingViewThe technical indicators are also supporting this trend: RSI on the 4-hour chart reached 63, still leaving some room before entering the overbought zone; while the MACD line has bounced off the 0 line and crossed above the signal line, indicating that bullish momentum has returned.

Conversely, if DOGE loses the 50-period EMA at 0.2647 USD – which is aligned with the support line – the price could slide down to the 100-period EMA around 0.2517 USD.

Shiba Inu recovers, bulls set higher targets

Shiba Inu recorded a slight increase of nearly 0.50% at the time of writing on Thursday, extending a series of 3 consecutive sessions of gains. On the 4-hour frame, SHIB has bounced back from the 200-period EMA and is currently challenging the central pivot area at 0.00001364 USD.

A decisive close above this threshold could open up room for the continuation of the upward trend, targeting the pivot point R1 at 0.00001488 USD.

The SHIB/USDT chart on the 4-hour timeframe | Source: TradingViewTechnical indicators are also supporting the bullish scenario: RSI has crossed the neutral level at 58, indicating there is still room for further increase, while the MACD line has just crossed above the signal line, accompanied by an expanding green histogram – reflecting increasingly strong bullish momentum.

However, in the opposite scenario, if SHIB is rejected at the 0.00001368 USD level, the price is likely to return to test the 200-period EMA around the 0.00001293 USD level.

Pepe maintains its recovery momentum

Pepe rose more than 1% in Thursday's trading session, continuing its recovery from the 200-period EMA on the 4-hour chart. The breakout momentum has surpassed the central pivot point at 0.00001135 USD and is heading towards the 0.00001266 USD mark – a resistance zone that was tested last weekend.

PEPE/USDT chart on the 4-hour time frame | Source: TradingViewTechnical signals on the 4-hour time frame reinforce the bullish outlook: MACD has entered the positive territory with a series of new green histograms forming, while RSI has reached 63, reflecting increasing buying pressure and approaching the overbought zone.

However, in the opposite scenario, if PEPE loses the mark of 0.00001135 USD, the correction pressure may push the price back to the 200-period EMA at 0.00001067 USD.

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