Meme coins are regaining center stage as the new year begins with renewed momentum across the crypto market.
Bitcoin pushing toward $94,000 has reset risk appetite, and historically this type of move tends to spill over into high-beta segments. With Dogecoin, Shiba Inu, and Pepe all posting sharp weekly gains, many traders are openly asking whether meme coin season is back.
Key Takeaways
Bitcoin’s move toward $94,000 has reignited risk appetite across crypto.
Dogecoin’s technical reversal is being read as an early-cycle sentiment signal.
Shiba Inu’s breakout aligns with renewed momentum and capital rotation.
Pepe’s rally is strong, but whale distribution adds a note of caution.
Meme coin season may be returning, though signals remain mixed beneath the surface.
Bitcoin’s Breakout Sets the Tone for Risk Assets
Bitcoin’s surge has played a key psychological role. As BTC reclaimed higher levels, capital began rotating away from defensive positioning and back into speculative trades. This environment typically favors meme coins, which often outperform early in momentum-driven phases. Rising volumes and accelerating price action suggest traders are once again comfortable moving down the risk curve.
Dogecoin Shows Early-Stage Strength, But Momentum Is Cooling Slightly
Dogecoin is trading near the $0.15 area after a strong rebound from late-December lows. On the 4-hour chart, RSI pushed above 70 during the initial breakout, signaling strong bullish momentum, before easing back toward the low-60s. This pullback suggests momentum is cooling, but not breaking down.
MACD remains firmly positive, with the signal and histogram still above the zero line. Although the histogram has started to contract slightly, the broader structure points to consolidation rather than reversal. As long as DOGE holds above recent breakout levels, traders may interpret this as a pause before another attempt higher.
Shiba Inu Momentum Builds After RSI Breakout
Shiba Inu has delivered one of the cleanest technical breakouts among major meme coins. SHIB’s RSI surged into the mid-70s during the rally, confirming strong trend momentum. While RSI has since pulled back modestly, it remains elevated, suggesting buyers are still in control.
On the MACD, SHIB shows a clear bullish crossover with expanding positive histogram bars. This combination often reflects trend acceleration rather than exhaustion, especially when paired with rising volume. From a technical perspective, SHIB appears to be transitioning from a long consolidation phase into a more directional move, aligning well with broader market strength.
Pepe Rally Looks Extended as RSI Signals Overbought Conditions
Pepe has been the standout performer in percentage terms, but technical indicators are flashing more caution. On the 4-hour timeframe, RSI spiked above 75, entering overbought territory as price surged sharply. While RSI has begun to roll over slightly, it remains elevated, indicating that the rally may be stretched in the short term.
MACD is still positive, but the histogram has started to contract, hinting that upside momentum may be slowing. This technical picture aligns with on-chain data showing whale wallets distributing supply into strength. Together, these signals suggest PEPE may be entering a consolidation or pullback phase unless fresh demand steps in.
Meme Coin Season Returns, But With Mixed Signals
As Bitcoin regains momentum near $94,000, meme coins are once again acting as high-beta expressions of market sentiment. Dogecoin’s trend reset, Shiba Inu’s breakout, and Pepe’s explosive rally all fit the early narrative of a meme coin revival. However, technical indicators show important differences beneath the surface.
RSI readings across the board suggest strong momentum, but also rising risks of short-term overheating, particularly for PEPE. Meanwhile, DOGE and SHIB appear better positioned for continuation if Bitcoin holds its gains and overall market conditions remain supportive.
If BTC continues to consolidate near recent highs, meme coins could see further upside driven by momentum and narrative alone. Still, uneven RSI and MACD signals suggest traders may need to stay selective as this phase of the cycle unfolds.
