Meme Coin Price Forecast: Dogecoin, Shiba Inu, and Pepe surge amid Venezuela’s hidden Bitcoin reserve

• Dogecoin rose another 2% following a 4% rebound on Sunday, marking its fifth consecutive day of gains.
• Shiba Inu paused after surging nearly 12% on Sunday, having broken out of a falling channel formation.
• Pepe is approaching its 200-day EMA, with bulls eyeing a breakout after a 77% rally over the past four days.

Meme coins including Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) are leading the broader crypto market rally, fueled by the U.S. cross-border operation to detain Venezuelan President Nicolás Maduro. Dogecoin has extended its advance for a fifth straight session, while SHIB and PEPE are taking a brief pause. Despite this consolidation, the technical outlook for the major meme coins remains bullish.

Venezuela’s hidden Bitcoin reserve fuels crypto market rally

Venezuela is reportedly shifting from the petrodollar to cryptocurrencies like Tether’s USDT stablecoin to settle crude oil sales, with an estimated value between $10 billion and $15 billion. It’s believed that Maduro converted USDT into Bitcoin (BTC) to prevent his wallet from being frozen.

Along with a $2 billion gold-for-Bitcoin swap conducted between 2018 and 2020 and the seizure of BTC mining assets, Venezuela’s shadow reserve is estimated to hold around 600,000 BTC.

If the US Strategic Bitcoin Reserve seizes or absorbs Venezuela’s BTC holdings, it would effectively reduce Bitcoin’s available supply, potentially triggering a surge in demand. The current market recovery appears to reflect anticipation of this possible supply constraint.

Dogecoin Gains Bullish Momentum Above $0.15

Dogecoin rose 2% on Monday, building on Sunday’s 4% gain. The dog-themed meme coin has surpassed its 50-day Exponential Moving Average (EMA) at $0.14339 and is trading above the key $0.15 level.

This recovery follows a breakout rally from a descending wedge pattern on the daily logarithmic chart. The next target for Dogecoin is the 200-day EMA at $0.18202, which aligns with a resistance zone between $0.18100 and $0.18500.

Momentum indicators show strong buying pressure: the Relative Strength Index (RSI) stands at 65, leaving room before overbought territory, while the Moving Average Convergence Divergence (MACD) continues to climb with green histogram bars, signaling growing bullish momentum.

If DOGE slips below the key support near $0.14399, it could negate the recent breakout and expose the meme coin to further downside pressure, potentially testing the next psychological floor around $0.13 or lower. Technical breakdowns below critical support often increase the risk of deeper corrections, as previous analyses have shown DOGE facing renewed bearish momentum if it fails to hold near support levels.

Shiba Inu Pauses After Four-Day Rally, Holding Above 50-Day EMA

Shiba Inu surged nearly 12% on Sunday, breaking above the resistance trendline formed by the October 13 and November 11 highs. As of Monday, SHIB has pulled back slightly, down over 1%.

If the recovery continues, Shiba Inu could target the 200-day EMA at $0.00001065.

Similar to Dogecoin, daily momentum indicators show strong bullish momentum for SHIB. The RSI stands at 65, approaching the overbought zone, while the MACD has crossed above the zero line with increasing green histogram bars, signaling growing upward momentum.

On the downside, if SHIB falls below the 50-day EMA at $0.00000821, it would invalidate the recent breakout, potentially exposing the coin to a drop toward the October 10 low of $0.00000678.

Pepe Eyes Breakout Above 200-Day EMA

Pepe slipped nearly 2% on Monday after soaring almost 18% on Sunday, pausing its four-day rally that has surged over 77%. This pullback reflects resistance near the 200-day EMA at $0.00000749.

If PEPE breaks above this level, the rally could extend toward the September 25 low at $0.00000886.

The RSI stands at 79, indicating overbought conditions and potentially unsustainable buying pressure. However, the rising MACD suggests continued bullish momentum.

On the downside, a potential reversal in PEPE may test the former resistance, now support zone, around $0.00000650.

Sources: Fxstreet