Meme Coins Surge as Dogecoin, Shiba Inu, Pepe Rally on Treasury Bond Buys
The meme coin trio of Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) are all trading in the green on Thursday, extending their previous day's gains linked to US Treasury bond buybacks.
According to technical analysis, DOGE has extended its 7% rise from the previous day, rebounding above the 50-day Exponential Moving Average (EMA) at $0.0735 and hinting at a modestly constructive near-term tone.
The Relative Strength Index (RSI) for DOGE is at 67 on the daily chart, nearing overbought territory, while the Moving Average Convergence Divergence (MACD) is rising above the signal line, reflecting upside momentum.
For SHIB, a steady recovery above the 23.6% Fibonacci retracement of its downswing from $0.00000670 to $0.00000405 at $0.00000456 has been observed.
Meanwhile, Pepe is leading the pack with over 9% gains on Thursday, testing the bullish breakout of the July 15 high at $0.00000314.