Some of Ethereum’s top-ranking memecoins are staging a solid comeback after staying in the red all across 22025.
Dogecoin (DOGE), the top memecoin by market cap, has surged by over 50% in July despite being down by around 25% year-to-date. Similarly, Shiba Inu (SHIB) and Pepe (PEPE) coins are up nearly 35% and 48%, respectively, but their yearly returns are about -30% each.
The memecoin boom is riding on the coattails of Ethereum’s resurgence, as Ether (ETH) stages a strong recovery after months of underperformance versus the broader crypto market.
Renewed interest in ETH has been fueled by rising ETF inflows, optimism following the Pectra upgrade, and a recent reshuffling at the Ethereum Foundation.
On the macro front, a weakening US dollar—pressured by Donald Trump’s escalating tariff policies—has combined with loose crypto regulations in the US to boost overall risk appetite. That’s created a favorable environment for major cryptocurrencies like Ethereum to thrive.
Memecoins, which tend to outperform in risk-on conditions, appear to be capitalizing on this shift, with Ethereum-based tokens in particular seeing renewed speculative interest after a prolonged drawdown.
Dogecoin is testing a key neckline resistance near $0.2499 as it completes a potential double bottom pattern, a classic bullish reversal setup. The structure features two lows near $0.1421 from April and July, suggesting a base formation after months of downtrend.
A decisive close above the neckline could confirm the breakout, opening the door for a move toward $0.3573, the pattern’s upside target, up 40% from the current price levels.
Momentum is building, with DOGE up over 13% intraday and the RSI entering overbought territory. However, without confirmation, the breakout remains at risk of rejection.
Shiba Inu appears to be forming a triple bottom pattern, a bullish reversal setup marked by three consecutive lows near $0.000011110. The structure suggests strong accumulation at the support level, with buyers repeatedly stepping in to defend against further downside.
SHIB is now retesting its neckline resistance around $0.000016866.
A decisive breakout above this level could confirm the pattern and open the door to a measured move toward $0.000022851, a potential 50% upside from the current price.
The rally is backed by improving momentum, as SHIB reclaims both its 50-day and 200-3D EMAs, while the RSI continues to climb toward overbought territory.
Pepe is testing a key resistance level near $0.000013865 while forming an ascending triangle pattern, a bullish reversal setup often seen at the end of downtrends. The structure features a flat top and rising trendline, indicating higher lows as buyers gain strength.
A confirmed breakout above the horizontal resistance could trigger a technical rally toward $0.000022540, nearly 60% above current levels. The move is supported by strengthening momentum, with the RSI trending higher and PEPE trading above both its 50- and 200-3D EMAs.
Yashu Gola is a crypto journalist and analyst with expertise in digital assets, blockchain, and macroeconomics. He provides in-depth market analysis, technical chart patterns, and insights on global economic impacts. His work bridges traditional finance and crypto, offering actionable advice and educational content. Passionate about blockchain's role in finance, he studies behavioral finance to predict memecoin trends.