Date: Thu, March 13, 2025 | 03:54 AM GMT
The cryptocurrency market is showing signs of recovery after a sharp sell-off earlier this week. The recent drop in U.S. inflation to 2.8% has fueled optimism, with Bitcoin (BTC) now trading above $83K after bouncing from its 24-hour low of $80K.
Among the beneficiaries of this market turnaround, two of the most popular meme coins—Pepe (PEPE) and Dogecoin (DOGE)—are showing signs of strength. PEPE has surged over 17%, breaking out of a key technical pattern, while DOGE is up by 6%, hinting at a potential similar breakout of its own.
Source: Coinmarketcap
Both memecoins have suffered significant declines over the past 90 days, but the current market structure suggests that a recovery phase could be underway.
Pepe (PEPE)
PEPE has successfully broken out of a falling wedge pattern that had been restricting its price movement for weeks. Today, the token managed to surpass the upper trendline of the wedge around the $0.0000063 range, marking a shift in sentiment. With this breakout, PEPE is currently trading around $0.0000072, signaling renewed bullish momentum.
PEPE Daily Chart/Coinsprobe (Source: Tradingview)
If PEPE continues this upward trajectory, the next major resistance level lies between $0.0000090 and $0.000010, where the 50-day moving average is also positioned. A decisive move above this level could lead to a push toward the next key resistance at $0.00001478. This would represent a potential 103% upside from the current price.
However, there is also a possibility that PEPE might retest the breakout level before confirming further gains.
Dogecoin (DOGE)
DOGE has been following a similar trajectory to PEPE, trading inside a falling wedge pattern since its rejection from the $0.48 high on December 7. The token recently rebounded from a low of $0.14 and is now testing the upper resistance of the wedge at around $0.17.
Dogecoin (DOGE) Daily Chart/Coinsprobe (Source: Tradingview)
If DOGE confirms a breakout with a successful retest, its next resistance zone sits between $0.22 and $0.24, where the 50-day moving average could act as a barrier. A strong move beyond this region could pave the way for a rally toward $0.2862, offering a potential 67% upside from the current price.
On the downside, if DOGE fails to break out, it could remain within the wedge pattern, possibly retesting the lower support levels again.
Final Thoughts
PEPE’s breakout has set the stage for a bullish continuation, while DOGE is now at a critical decision point. If DOGE follows a similar trajectory, traders could witness significant gains in the coming days. As always, market participants should closely monitor price action, volume confirmation, and macroeconomic developments before making investment decisions.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Always conduct your own research before investing in cryptocurrencies.
