Foreign media reports that after months of consolidation, the meme coin sector has recently shown signs of recovery. While Bitcoin and mainstream altcoins continue to attract more institutional funds, PEPE, SHIB, and BOME have begun testing or recovering key price levels, indicating that high-risk-appetite funds may be flowing back into this sector.
The article argues that it's too early to conclude that a new round of memecoin price surge has begun, but the chart patterns, trading volume, and buying strength of several representative tokens are all improving. Going forward, the market's focus will be on whether these tokens can hold their breakout levels, rather than experiencing a short-term rebound followed by a decline.
PEPE approaches key resistance level in July
PEPE is considered one of the stronger performers in this round of recovery. The article mentions that the token found support multiple times around 0.0000025, forming a triple bottom-like structure, indicating that buying pressure continued to absorb selling pressure. The latest rebound has pushed the price back to around 0.0000029, a level that repeatedly suppressed upward movement in July.
From an indicator perspective, the RSI has risen above the signal line, indicating increased buying momentum. Simultaneously, open interest has risen along with the price, suggesting potential new funds entering the derivatives market, rather than solely driven by short covering. If the price holds above the current resistance level, the upside target may be 0.0000034; if the breakout fails, the price may retest the 0.0000026 to 0.0000025 range.
SHIB test descending wedge upper edge
The article states that SHIB is attempting to break out of a prolonged descending wedge pattern. This pattern typically appears after a prolonged decline, and a successful breakout is often seen as a reversal signal. For the past few months, SHIB has been trading within the wedge range, but recently it has rebounded from the lower edge and begun challenging the upper resistance.
Spot buying also shows signs of improvement. The cumulative volume difference has turned positive, indicating stronger buying pressure, while the increased volume reflects a rebound in market attention. Directional momentum indicators suggest that bearish forces are weakening. If the weekly chart effectively breaks above the upper edge of the wedge, the first resistance level is around $0.0000066; if it continues to strengthen, the next major supply zone is around $0.0000100. If the breakout level fails to hold, the price may still return to the wedge support area for consolidation.
BOME recovers horizontal resistance level
BOME recently broke through a horizontal resistance level that had held it for weeks, improving its short-term structure. The article points out that this breakout occurred after a period of consolidation, with buyers reclaiming the area that had previously become resistance, accompanied by significant volume, enhancing the credibility of the breakout.
Meanwhile, the Supertrend indicator has turned bullish, and the Chaikin money flow indicator has returned to positive territory, indicating renewed capital inflows. If BOME can hold the recovered resistance level, the next target may be around $0.00195; if the support is breached, a short-term pullback is possible before attempting another upward move.
Will funds return to memecoin?
The article argues that the simultaneous structural improvements in PEPE, SHIB, and BOME indicate a recovery in risk appetite within the meme coin sector. Key signals supporting this assessment include increased trading volume, stronger buying pressure, and a rebound in derivatives holdings for some tokens.
However, whether this will evolve into a broader sector-wide rally depends on two conditions: first, whether these tokens can turn their breakout levels into effective support; and second, whether the overall crypto market can maintain a relatively risky trading environment. If these conditions are confirmed, the rise in meme coins may no longer be just a correction in individual tokens.
