Memecoins on the rise: Will the Bitcoin trend influence the rise of altcoins?”

Memecoins on the rise: Will the Bitcoin trend influence the rise of altcoins?”

The current market development for Bitcoin and Altcoins: A look at Memecoins

Although Bitcoin has not fully recovered from its sell-off, it is showing a stabilizing sideways movement above the $85,000 level. Meanwhile, several altcoins, especially a number of memecoins, are experiencing a surge and sending bullish signals. The question arises as to whether this breakout is simply a short-term correction to the ongoing sell-off or whether it indicates an actual trend change.

Memecoins on the rise

The performance of Dogecoin (DOGE), Fartcoin (FART), Shiba Inu (SHIB) and Pepe (PEPE) is particularly noteworthy. In the recent past, a rally in memecoins has been repeatedly observed, which was often short-lived, but offered high returns with corresponding risk.

Shiba Inu (SHIB) facing a potential rally

The Shiba Inu price has been in a significant downward trend since mid-January. At the beginning of March there was a failed attempt to break out of the trend channel, which was, however, immediately sold again. However, this situation has fundamentally changed: the breakout from the trend channel was successfully completed in the daily chart, and the technical indicators point to a bullish development.

The Relative Strength Index (RSI) has continued to rise, reaching levels last tested in December 2024. It is particularly crucial to overcome the resistance at $0.000015. A successful breakout above this level could pave the way for a rise to $0.000017, where the next key resistance lies. If this is also overcome, this could indicate a long-term trend change.

Pepe (PEPE) shows similar dynamics

A bearish development was also observed for Pepe (PEPE) at the beginning of the year. There was also a failed breakout attempt on March 2nd. With the recent recovery, a test is now underway at around $0.000008. On the daily chart, PEPE is crossing above the 50-day moving average (MA) for the first time in 2025, indicating a sustained recovery. If this line is broken, a retest should occur, followed by a continuation of the uptrend. In this case, PEPE could target the $0.00001 level and move towards $0.000011 further down the line.

Fartcoin: recovery after market weakness

Since its launch, Fartcoin has been one of the most noticeable and most traded memecoins. On January 19, the coin reached an all-time high of $2.73 before experiencing a decline driven by structural weakness in the market earlier in the year. However, Fartcoin's price has shown a continuous recovery since mid-March. The RSI is currently at 65.25, and if the resistance at $0.57 is successfully overcome, $0.80 should be the next price target.

Bitcoin as a directional indicator

Despite the positive development of memecoins, caution is advised. Many charts show similarities in the price development between different coins, which does not automatically indicate a bullish development. The January plunge coincides with Bitcoin’s all-time high and subsequent correction. Although Bitcoin recovered on March 2, it fell significantly on the following trading day.

Everything indicates that the developments of memecoins depend heavily on the performance of Bitcoin. Investors should therefore closely monitor whether this pattern continues or whether memecoins are able to decouple from Bitcoin.