Dogecoin is exhibiting notable signs of life, and the most recent price action indicates that a significant breakout - possibly the largest one yet in 2025 - may be in the works. Now trading at $0.21, the meme coin has risen past significant resistance levels, indicating a strong follow-through on prior momentum and a noteworthy +1% daily gain. Based on the chart, DOGE has surpassed the crucial 200-day EMA (black line), which it has been unable to do for months.
It is not just another pump volume trend continuation, and general market optimism supports this technical breakout. Fueling this rally and validating traders' bullish bias is the upward resolution of the ascending wedge that formed in late June. The psychological barrier of $0.20, which was previously functioning as a ceiling, has been broken by DOGE with this breakout.
Dogecoin is now formally in overbought territory as the RSI rises above 70. Bulls should not be put off just yet, though, as the RSI can stay overbought for long stretches of time in trending markets as the price keeps rising. Near $0.25, a level not seen since early May, is the next logical resistance. Dogecoin could run in that direction and possibly beyond if it keeps up its momentum and volume keeps up with the movement.
The bullish environment of the cryptocurrency market as a whole also provides DOGE with the tailwind it requires for long-term growth. Investors should be keeping an eye on whether this rally attracts speculative momentum and retail volume. Since DOGE thrives on hype cycles, a new story may be developing as a result of this technical breakout.
Shiba Inu needs more
A single technical level - the 200-day Exponential Moving Average (EMA) - is the focus of attention as Shiba Inu faces another make-or-break moment on the charts. SHIB is currently bouncing up against the black 200 EMA line, which has historically been a significant resistance level for the asset following a robust recovery over the previous few weeks.
After posting a strong recovery from the local bottom around $0.00001230, SHIB is currently trading around $0.0001437. This move, though, runs the risk of becoming a bull trap unless the meme token breaks above the 200 EMA with conviction. Although the bulls have obviously had the upper hand lately, this rally has now driven SHIB to the brink of exhaustion unless it overcomes this crucial obstacle.
We might witness a quick retracement back toward the $0.00001300 zone if SHIB is unable to penetrate above the 200 EMA and establish a close above it. This region would probably be the target of a pullback because it has been strengthened by prior horizontal support. The rally may be nearing its end as the Relative Strength Index (RSI), which is currently overbought at 71, indicates.
The next technical target for SHIB, however, may be around $0.00001550, a zone not seen since early May, if bulls are able to push through and turn the 200 EMA into support. A breakout here would also validate a higher high, giving the narrative of trend reversal even more support.
SHIB needs to break the 200 EMA in order to remain competitive, to put it simply. If that does not happen, the meme token will likely experience another stalled rally and correction. SHIB is at a pivotal point, and the course of the upcoming weeks will be determined by what transpires next.
XRP's surge
As XRP continues its parabolic rise and outperforms the rest of the cryptocurrency market, it has formally entered a euphoric phase. After months of consolidation, XRP experienced an explosive breakout, rising from below $2.20 to over $3.20 in just a few weeks. It is evident from the size of this move and the steepness of the rally that irrational exuberance is gaining ground on the asset.
This sentiment is consistent with the technical indicators. At 85, an extreme level that is rarely maintained for very long, the Relative Strength Index (RSI) is currently well into overbought territory. A cooling-off period or even drastic corrections have historically been preceded by such readings. However, due to speculative demand, FOMO and positive sentiment overflow, assets may stay overbought for prolonged periods of time during euphoric periods like this one.
Volume has increased in tandem with the price, suggesting that the rally is being driven by high participation. But if momentum stalls and no new buyers enter the market, this could also mean that a blow-off top is about to form. Because of the recent rally's steep angle, XRP is susceptible to quick profit-taking in the event that sentiment changes. The breakout is structurally sound despite these dangers.
Earlier this month, XRP broke out from a clearly defined ascending triangle and easily cleared resistance zones. Bullish alignment between the 50, 100 and 200 EMAs indicates strong underlying trend support. How long can XRP stay in this euphoric state? If momentum continues and volume stays high, XRP may push before any significant retracement to the $3.50-$3.80 zone.
