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Shiba Inu (SHIB) and PEPE coin are exhibiting signs of recovery, according to technical analysis. Both memecoins may experience significant price increases in the short term. Currently, Shiba Inu shows a buy signal on weekly charts, while a reverse head-and-shoulders pattern in PEPE coin reinforces its bullish potential. This article explores the potential price movements of both memecoins and the critical levels investors should watch.
Shiba Inu’s Recovery Signs: February 12 Price Analysis
Shiba Inu has lost 65% of its value since its peak in December 2024 but has now signaled a potential recovery on weekly charts. Crypto analyst Ali Martinez announced that the TD Sequential indicator has provided a buy signal for SHIB coin. This signal indicates that the price trend may reverse.
This indicator has yielded mixed results in previous instances. Martinez’s earlier prediction in December 2024 anticipated that SHIB price could reach $0.000026. Although the price rose to $0.000025, it did not fully meet the expected target. However, this recent signal is being closely monitored by investors.
Developments within the Shiba Inu ecosystem could also influence its price. Last week, Shiba Inu developers announced a collaboration with the UAE Ministry of Energy and Infrastructure. This collaboration could enhance Shiba Inu’s technological infrastructure and provide a new identity for the project.
PEPE Coin’s Exciting Technical Formation
PEPE coin shows a reverse head-and-shoulders pattern on its price chart, indicating a potential rise of 23%. Technical analysts highlight this pattern supports a price increase up to the $0.000012 level. However, for this potential rise to occur, PEPE must overcome its current resistance levels.
Whale movements play a significant role in shaping PEPE‘s price dynamics. In the last week, purchases by large investors decreased by 45%, while data over the past 30 days showed a 103% increase. This suggests that despite rising short-term purchases, long-term positions held by large investors are declining.
Moreover, a decrease in network activity is noteworthy. The number of new wallet addresses has decreased by 31%, and active wallet addresses have dropped by up to 50%. This indicates a weakening trading volume for PEPE and diminished market interest. Nevertheless, the support level at $0.000008 could be critical for the memecoin’s upward price movement.
