Dogecoin and Shiba Inu Lead Meme Coin Rally Amid Market Uptick

Meme coins like Dogecoin and Shiba Inu are leading a rally in the crypto market, with Dogecoin up 5.5% and Shiba Inu up 4.8%. The meme coin sector has a total market cap of over $68 billion, with other coins like PEPE, BONK, FARTCOIN, and PENGU also seeing significant gains. The rally is driven by short squeezes, momentum chasers, and market mania, with retail traders drawn to low-priced meme coins. This cycle feels familiar, with Dogecoin and Shiba Inu leading similar breakouts during the last bull run.

Meme coins are leading a significant rally in the crypto market, with notable gains observed in Dogecoin (DOGE) and Shiba Inu (SHIB). As of July 2, 2025, Dogecoin has seen a 5.5% increase, while Shiba Inu has risen by 4.8%. This rally is part of a broader trend in the meme coin sector, with a total market cap exceeding $68 billion. Other meme coins such as PEPE, BONK, FARTCOIN, and PENGU are also experiencing substantial gains.

The current rally is driven by several factors, including short squeezes, momentum chasers, and market mania. Retail traders are particularly drawn to low-priced meme coins, contributing to the overall upward momentum. This dynamic is reminiscent of the last bull run, where Dogecoin and Shiba Inu led similar breakouts.

Dogecoin, in particular, has shown signs of a rounding bottom pattern breakout, with the coin trading in the green and nearing a crucial resistance level of $0.1811. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) indicators suggest a bullish trend momentum, indicating potential further gains [1].

Shiba Inu has also extended its rebound rally, reaching a new 30-day high and targeting immediate resistance at $0.00001337. The RSI and MACD indicators also suggest a growth in bullish momentum for Shiba Inu [1].

The recent surge in BitMine Immersion (BMNR.A) stock by 130.77% serves as a reminder of the speculative nature of these rallies. The stock's move lacked traditional technical signals, pointing to an event-driven spike rather than a structured technical breakout. This highlights the importance of caution in the face of such speculative mania [2].

Adding to the excitement in the meme coin space is the emergence of Little Pepe ($LILPEPE), a newly launched meme coin nearing the closure of its fourth presale stage. With over $3.80 million raised to date, Little Pepe is projected to soar 23,957% and potentially knock Shiba Inu out of the top two meme coins in market cap. The token is priced at $0.0013 in its current presale phase, reflecting strong investor interest [3].

The rally in meme coins underscores the dynamic and volatile nature of the crypto market. While the current momentum is driven by speculative factors, it is essential for investors to remain cautious and consider the underlying fundamentals and technical indicators before making investment decisions.

References:
[1] https://www.fxstreet.com/cryptocurrencies/news/meme-coins-price-prediction-dogecoin-shiba-inu-pepe-eye-further-gains-as-momentum-recovers-202507100554
[2] https://www.ainvest.com/news/bitmine-immersion-130-surge-technical-thematic-mystery-2507/
[3] https://cryptodaily.co.uk/2025/07/shiba-inu-killer-under-0002-projected-to-soar-23957-and-knock-shib-out-of-the-top-2-meme-coins-in-market-cap