"Memecoin Market Ignites Again"...Speculation Explodes in Rally from PUMP to Dogecoin

▲ Memecoin, Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Pump.fun (PUMP)/AI-generated image

The memecoin market showed a collective upward trend in weekend trading, raising expectations for a recovery in speculative sentiment. Pump.fun (PUMP) surged by 10%, Dogecoin (DOGE) by 4%, Shiba Inu (SHIB) by 3%, and Pepe (PEPE) by 2.5%, with buying pressure entering across major memecoins.

CoinGape reported on May 9 that the rise in major memecoin prices revitalized optimism across the digital asset market. The total cryptocurrency market capitalization approached $2.68 trillion, and the overall market increased by 1.15%. Investors are also closely watching the US cryptocurrency market structure bill vote by the Senate Banking Committee scheduled for May 14.

PUMP was cited as one of the memecoins showing the strongest movement in trading today. CoinGape reported that Pump.fun surged by 10% in the trading session, with an average 24-hour trading price around $0.00217. While the overall cryptocurrency market remained largely stable, PUMP delivered a relatively outstanding performance.

Investor sentiment has also improved. Citing CoinGecko data, CoinGape reported that for the first time since May 2024, over 50% of Pump.fun traders in 2026 were in profit, and in April, the proportion of profitable traders rose to 73.3%. If PUMP breaks above $0.0021, the next resistance levels are suggested at $0.0023 and $0.0025.

Dogecoin also joined the upward trend. Dogecoin rose by 4% in the last 24 hours, approaching $0.110. CoinGape reported that if Dogecoin maintains above $0.107, it could attempt a move towards the $0.117 resistance level. Conversely, if Bitcoin drops below $80,000 and Dogecoin falls below $0.107, it could decline towards $0.099.

Technical analysis also mentioned bullish patterns. Trader Tardigrade stated that a “Ready, Set, Go” pattern appeared on Dogecoin's 4-hour chart. CoinGape reported that this chart shows Dogecoin in a consolidation phase before entering an upward channel.

Shiba Inu and Pepe also continued their upward trend. Shiba Inu rose by 1.39% in the last 24 hours, trading at $0.00000640, with interest in Shibarium utility and increased ecosystem activity supporting the price. CoinGape reported that the number of Shiba Inu wallet holders set a new record, indicating increased participation in the memecoin market. If Shiba Inu maintains above its 30-day moving average, it could approach the resistance level around $0.000006570, but if it falls below $0.000006389, pressure could increase towards the 200-day moving average around $0.00000630.

Pepe rose by 2.66% to $0.00000430. CoinGape predicted that if Pepe maintains above $0.00000420 in future trading, it could rise to $0.00000450. The memecoin price trend this week is likely to be influenced by Bitcoin's strength and market sentiment. If the upward momentum continues, the rallies of PUMP, Dogecoin, Shiba Inu, and Pepe could further extend.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*