With an initial US/China trade deal in place, both traditional and Bitcoin markets could continue their rises. However, it’s in the memecoin niche where most of the upside price action is taking place. Dogecoin (DOGE), Shiba Inu (SHIB) and Dogwifhat (WIF) are rocketing out of the lows.
$DOGE price forming a potential bull flag
Source: TradingView
$DOGE is up over 7% for the day so far. The daily chart above shows how the price bounced from the 50-day simple moving average (blue line) and is currently at resistance at $0.25. It looks like this current price action could be forming a bull flag. The measured move for this potential bull flag, should it play out, would take the price to $0.31 and the beginning of the next level of horizontal resistance.
Fibonacci levels also correlate with this potential move. The 0.5 Fibonacci level is at $0.31, the 0.618 at $0.35, and the 0.786 is at $0.41.
Will $SHIB have enough gas in the tank?
Source: TradingView
$SHIB is up 8.3% on Monday so far. As can be seen in the weekly time frame, the price is currently ascending nicely after bottoming at the major support level of $0.000011. The only thing to be wondered here is if the indicators on the Stochastic RSI will hold enough upside momentum to push the price all the way up and past the last swing high at $0.000033. It can be seen that the indicators are getting close to the top. That said, they could stay there for a good while, as happened with the rise to this last swing high. Upside targets are in the chart, with the next Fibonacci level of 0.382 sitting at the horizontal resistance of $0.000019.
$WIF rockets over 300% from the bottom
Source: TradingView
The big mover in the memecoin sector on Monday is $WIF. Up over 35% on the day so far, many might be forgiven for thinking that this particular memecoin was going to zero, even before this bull market had reached completion.
Since a likely bottom was made at $0.31, the price has rocketed up over 300%. Some solid resistance is now rejecting the price at $1.25, so it remains to be seen if this rally will continue.
$WIF heading into major horizontal resistance
Source: TradingView
Zooming further out into the weekly time frame, even stronger horizontal resistance can be seen at $1.39. Also, it should be noted that the Stochastic RSI on this time frame has the indicators at or near the top. This very much points to a rejection at the major resistance, or at the very least, a likely failed rally well before the top of the last swing high.
For $WIF, and all the other memecoins, everything will depend on Bitcoin continuing to plough higher. It will also depend on whether there is still time in this bull market for the weekly RSIs to come back down again, reset, and head back up for one last hurrah towards the end of this year or into the beginning of 2026.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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