Dogecoin (DOGE), Shiba Inu (SHIB), and PEPE Record Price Recovery, Triggering Speculation on Meme Coin Comeback

The meme coin ecosystem is witnessing remarkable development as Dogecoin (DOGE), Shiba Inu (SHIB) and PEPE record a price recovery. This has triggered speculation

Meme coins, known for their rapid price movements and community-driven nature, have shown signs of recovery, sparking speculation on a broader market rally.

Dogecoin (DOGE), Shiba Inu (SHIB) and PEPE have all seen a surge in their prices over the last 24 hours. According to CoinMarketCap, DOGE rose by 1.25%, SHIB gained 1.01%, and PEPE soared by 2.19%.

The meme coin trio rallied from very low levels to register these gains. Dogecoin rose from a low of $0.3179 in earlier trading to breach a critical resistance level of $0.328. At the time of writing, DOGE is trading at $0.3313.

Shiba Inu's rebound journey started from a low of $0.00001785. A spike in the ecosystem’s burn mechanism, which hit 284%, provided support to SHIB. This move sent a total of 12,546,958 SHIB to dead wallets in an effort to control the circulating supply.

The meme coin's price then stabilized and climbed two crucial resistance levels of $0.0000180 and $0.0000184. SHIB is currently trading up by 1.01% at $0.00001861. As investors actively traded the token, SHIB's trading volume surged by 20.71% to reach $337.63 million.

PEPE completes the trio with a 2.49% rally to $0.00001288. Pepe's trading volume also experienced a 13.86% rise to $1.17 billion.

The bullish momentum noticed with these leading meme coins might serve to usher in a rally for these classes of crypto assets. Some analysts have drawn a correlation between these meme coins and the current rally being experienced by the world's leading digital asset, Bitcoin. They believe BTC's resurgence might have influenced the rebound of these meme coins.

Investors in these tokens will hope that they sustain current momentum and reach for higher price levels.