Dogecoin (DOGE), Shiba Inu (SHIB), and Pudgy Penguins (PENGU) Gear Up at Breakout: Price Analysis

The memecoins are gearing up for a potential surge. Among those best-placed to rally hard are Dogecoin (DOGE), Shiba Inu (SHIB), and Pudgy Penguins (PENGU). 

$DOGE about to really take off?

Source: TradingView

$DOGE may easily be the biggest memecoin by market capitalization, but when it surges it can really surge. It can be seen in the daily chart above that the price looks to be turning the $0.245 resistance level into support. 

The triangle which contained the price action for most of August initially broke down, but the price found great support at $0.21. The price has since continued to rise, and should it pierce through the current resistance level and get above the last local high at $0.288, this surge could really take off.

$SHIB higher time frame break out

Source: TradingView

The daily chart for $SHIB reveals a higher time frame breakout. Given that this downtrend started all the way back in December 2024, the importance of the breakout is plain to see. 

The $SHIB bulls haven’t really got up a head of steam yet, and the price could return to confirm the breakout. That said, a possible surge up to the first major horizontal resistance at $0.000016 could take place soon. If the bulls can also push the price above the next horizontal resistance at $0.0000176, $0.000020, and $0.000025 would be the next targets.

$PENGU confirms bull flag breakout

Source: TradingView

The $PENGU chart is an excellent looking one. This classic bull flag is a continuation pattern for the amazing 494% surge that mostly took place in July. Since that local top, the price has meandered down forming the bull flag as it went. 

Currently, the price has broken out of the top of the bull flag and is in the process of retesting the breakout once again. From here it might be expected that some kind of price surge will take the price up to surpass the higher highs on its way to the local top of the flag. A measured move would take the $PENGU price up to $0.066, which is just short of the $0.07 all-time high.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.