• Dogecoin extends its rebound on Thursday after finding support near a key support zone earlier this week.
• Shiba Inu recovers from the lower boundary of its consolidation range around $0.000056.
• Pepe approaches its 50-day EMA at $0.0000038, a firm close above suggests further upside.

Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE) meme coins are extending the recovery on Thursday after recent corrections. DOGE finds support from the key zone, SHIB holds the lower consolidation boundary, while PEPE nears the key resistance zone, with a breakout suggesting further upside. In addition, improving market sentiment driven by renewed hopes for a potential peace agreement between the US and Iran has also supported the recovery across these meme coins.

Dogecoin rebounds from key support zone

Dogecoin price faced rejection from the weekly resistance at $0.119 last week and declined by over 11% through Tuesday. DOGE retested and found support around the previous trendline breakout level, which coincides with the daily support at $0.102 on Wednesday, and recovered slightly. At the time of writing on Thursday, DOGE is extending the rebound trading above $0.105, nearing the 200-day Exponential Moving Average (EMA) at $0.106.

If DOGE continues its recovery and closes above the 200-day EMA at $0.106 on a daily basis, it could extend the rally toward the weekly resistance at $0.119.

The Relative Strength Index (RSI) on the daily chart reads near 49, suggesting neutral momentum after the recent pullback, while the Moving Average Convergence Divergence (MACD) remains in negative territory, hinting that upside attempts could struggle while these higher EMAs cap the advance.

However, if DOGE corrects and closes below the daily support at $0.102, it could extend the fall toward the key psychological support at $0.100.

Shiba Inu's lower consolidation boundary holds strong

Shiba Inu price retested the lower boundary of the consolidation range at $0.0000056 on Tuesday and recovered nearly 2% the next day. At the time of writing on Thursday, SHIB is extending its rebound above $0.0000058.

If SHIB continues its recovery, it could extend the advance toward the mid-point of the consolidation zone near $0.0000059. A daily close above this level could extend gains toward the 50-day EMA at $0.0000061.

The RSI on the daily chart is 41, pointing upward toward the neutral level and showing early signs of fading bearish momentum. However, the MACD indicator remains in negative territory, hinting that upside attempts could struggle.

However, if SHIB faces a pullback, it could extend the loss toward the lower boundary of the consolidation range at $0.0000056. A daily close below this level could extend the correction toward the February 6 low at $0.0000050.

Pepe could extend the rally if it closes above the 50-day EMA

Pepe price found support at the daily support level at $0.0000035 on Sunday and recovered slightly through Wednesday. At the time of writing on Thursday, PEPE continues its recovery, trading above $0.0000037.

If PEPE closes above the 50-day EMA at $0.0000038, it could extend the gains toward the 200-day EMA at $0.0000040.

Like DOGE, PEPE’s RSI shows fading bearish strength while MACD still hints at a negative outlook.

On the other hand, if PEPE corrects, it could extend the losses toward the daily support at $0.0000035.