Major meme coins outperformed the broader cryptocurrency market on Monday, with Pepe, Shiba Inu, and Dogecoin posting double-digit percentage gains as Bitcoin climbed toward the $90,000 mark. The rally placed these tokens among the top performers in the digital asset space over the past 24 hours.
Pepe surged 30% to reach $0.0000053, its highest level since January and a 140% advance from its 2025 low. Dogecoin rose 15% to a peak of $0.1056, up 47% from its year-to-date trough, while Shiba Inu climbed to $0.00000627. Other meme tokens including Pudgy Penguins, Official Trump, and Bonk each gained more than 5%. The total market capitalization of meme coins tracked by CoinGecko reached $37 billion, with every token in the category posting positive returns.
Bitcoin's breakout fuels risk-on sentiment
The primary catalyst behind the meme coin rally was a broad shift toward risk-on positioning across crypto markets. Bitcoin broke out to $88,000 on Monday, with Ethereum, XRP, and Solana also registering significant bullish moves. The advance followed Strategy's resumption of Bitcoin purchases and a surge in spot ETF inflows.
Spot Bitcoin ETFs attracted over $998 million on Monday, bringing total inflows for the month to $1.31 billion. Ethereum ETFs added $269 million, while Dogecoin ETFs saw close to $1 million in inflows. Meme coins have historically exhibited amplified sensitivity to Bitcoin's price direction, rising at a faster pace during BTC uptrends and retreating more sharply when the largest cryptocurrency declines.
Sentiment indicators turn bullish
The rally coincided with a rise in the Fear and Greed Index to 77, placing it in the greed zone. Meanwhile, the Altcoin Season Index climbed to 48, reflecting a growing number of altcoins outperforming Bitcoin. These indicators suggest improving sentiment across the broader digital asset market.
Technical outlook for Pepe
Pepe's daily chart shows the token has recovered substantially after bottoming at $0.00000224 in July. It has broken above the $0.0000045 resistance level, which represented its August 22 high, and is approaching a golden cross formation as the 50-day and 200-day moving averages converge. A retest of the $0.0000045 support could precede a continuation toward $0.0000072, its January peak.
Shiba Inu and Dogecoin price levels
Shiba Inu has formed an ascending channel characterized by higher highs and higher lows, recovering from an August low of $0.0000040 to $0.0000062. The token has moved above its 50-day moving average, though it faces resistance at $0.0000062, which aligns with its September 23 swing high. A modest pullback before resuming the uptrend remains possible, particularly if Bitcoin advances toward $100,000.
Dogecoin rebounded after completing a falling wedge pattern and has climbed above its 50-day moving average. Technical indicators point to continued upside, with bulls targeting the $0.1183 resistance level, its highest point in May.
This article is for informational purposes only and does not constitute financial advice.
