Top meme coins Dogecoin (DOGE), Shiba Inu (SHIB), PEPE and BONK lead the meme coin sector with double-digit gains on Wednesday following the crypto market recovery. After smashing key resistance levels near their respective 50-day Simple Moving Averages (SMA), these meme coins now face a key hurdle close to the 100-day SMA.
Fartcoin price holds firmly above support established at $1.00 while exchanging hands at $1.16, up more than 2% on the day. The meme coin’s uptrend follows a sustained rebound from the Q1 downtrend, buoyed by support at $0.20, tagged in March. The Relative Strength Index (RSI) indicator’s position at 70.60 reinforces the bullish grip on Fartcoin, hinting that the token will break above $1.20 to pave the way for gains targeting the next key area at $1.50.
Bitcoin price has faced multiple rejections around its 200-day Exponential Moving Average (EMA) at $85,000 since April 13. On Monday, BTC finally broke above this resistance level, rising 9.7% to close above $90,000. At the time of writing on Wednesday, it hovers at around the $92,800 level. If BTC continues its upward momentum, it could extend the rally to test its March 2 high of $95,000.
