Meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) are leading the cryptocurrency market rally thanks to the geopolitical tension in Venezuela. The tension allowed the crypto market to rally higher, with Dogecoin extending its gain for the fifth consecutive day while SHIB and PEPE take a pause. The outlook remains bullish, but DOGE could face a slight retrace below the $0.14 level in the near term. The DOGE/USD 4-hour chart is bullish and efficient thanks to Dogecoin’s rally over the past seven days.
If the bulls continue to push higher, DOGE could aim for the 200-day EMA at $0.18202, aligning with the overhead supply zone between $0.18100 and $0.18500. The technical indicators are bullish. The RSI of 73 shows that DOGE is heading into the overbought region. The MACD lines continue to rise alongside green histogram bars, signaling a surge in bullish momentum.
However, if the bullish trend subsides, DOGE could slip below $0.14339 and risk retesting the $0.1300 psychological level. Dogecoin (DOGE) and other meme coins, including Shiba Inu (SHIB) and Pepe (PEPE), have led the latest cryptocurrency market rally, driven by geopolitical tensions in Venezuela. DOGE extended its gains for a fifth straight day as broader memecoins paused.
On the DOGE/USD 4-hour chart, the pair remains bullish after DOGE’s week-long rally, trading above the 50-day EMA near $0.14339 and eyeing a move toward the 200-day EMA around $0.18202 in the coming sessions. If bulls continue to push higher, DOGE could reach the overhead supply zone between $0.1810 and $0.1850. Technical indicators reinforce the bullish bias, with the RSI near 73 signaling overbought conditions and MACD lines rising along green histogram bars. However, a softening momentum could see DOGE slip below $0.14339 and possibly retest the $0.1300 level in the near term.
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