Pepe Breaks Ranks as DOGE and SHIB Slide: Meme Rotation?

Three Things to Know

Reports that TRON founder Justin Sun holds a large PEPE stake lifted the token well ahead of its meme rivals.
PEPE now trades above both key moving averages, while DOGE and SHIB remain stuck beneath theirs.
The ceiling just overhead PEPE will show whether this whale-driven rally has staying power.

Pepe broke away from the meme pack on Wednesday after reports showed Justin Sun holding a sizable stake in the token. Dogecoin and Shiba Inu stayed flat and kept sliding on the week.

The split matters because meme rallies often spread from one coin to the next. Right now, the money looks concentrated in a single name. Traders want to know if PEPE's lead pulls DOGE and SHIB higher or fades once the Fed has spoken.

Justin Sun's $51M Bet Puts PEPE at the Front of the Meme Pack

Reports that TRON founder Justin Sun holds about $51M in PEPE sent the frog-themed token sharply higher on Wednesday, Oct 28. PEPE jumped as much as 15% during the session and ranked among the day's top gainers.

The rally pushed PEPE's market cap back above $2 billion. Analysts tracking the token called Sun a possible catalyst for more near-term gains. They also said the outlook remains uncertain, since a single large holder can move a meme coin in either direction.

Macro events could test that enthusiasm. The Federal Reserve is due to announce its rate decision, and a surprise could shift appetite for risky assets. Binance will also delist 10 margin and 12 spot pairs on Oct 30. That move could thin liquidity in smaller tokens and add to short-term swings.

PEPE Clears Both Averages and Eyes $0.0000054

Pepe (PEPE) daily price with the nearest support (green) and resistance (red). Source: TradingView

PEPE traded near $0.0000049 at last check, up about 7% in the past day. The gain extends a steadier climb, with the token up roughly 8% over the week and about 13% over the month. Sun's buying added fuel to a move that was already underway.

The token now sits above both of its key moving averages. The 50-day average, which tracks the price trend over roughly ten weeks, stands near $0.0000041. The 200-day average sits lower, around $0.0000038. Both lines now act as floors, and buyers control a young uptrend.

RSI, a 0 to 100 gauge of momentum, reads 64. That level shows strong buying pressure without the overheated readings above 70 that often come before a pullback.

On the daily chart, the first level to watch is support near $0.0000046. Holding it would keep the recent breakout intact and signal that new buyers are absorbing profit-taking. A slip below it would point to the next support around $0.0000043, which would erase much of this week's gain.

Resistance sits near $0.0000054. A clean break above that ceiling would open the way toward $0.0000056, the next level sellers have defended. Failure there would likely leave PEPE drifting in a range while traders wait for the Fed.

For now, the chart favors buyers. The key question is whether demand holds once the headline buzz around Sun fades.

Dogecoin Stays Trapped Under a Falling 50-Day Line

Dogecoin (DOGE) daily price with the nearest support (green) and resistance (red). Source: TradingView

Dogecoin shows the opposite picture. DOGE traded near $0.079, flat on the day, after losing about 4% over the week. The monthly loss is steeper, at roughly 18%, so the meme leader has missed the bounce entirely.

The price sits below both key averages. The 50-day line stands near $0.084. The 200-day average is higher, around $0.091. Both now act as ceilings, and sellers control the trend.

RSI reads 41, a weak level that shows buyers lack conviction. Momentum has started to turn up, which offers a first hint that selling pressure is easing. Traders will still want the price to confirm a reversal.

Support near $0.076 is the floor to watch. A break there would expose the next level around $0.071, a fresh low for this slide.

Resistance sits right where the 50-day average runs. Reclaiming that zone would be the first real sign of change. Above it, buyers face the next hurdle at $0.088.

Why Shiba Inu Looks Weaker Than Its Rival

Shiba Inu (SHIB) daily price with the nearest support (green) and resistance (red). Source: TradingView

Shiba Inu trades at the same price as PEPE right now, yet its chart reads like a mirror image. SHIB was flat on the day and has shed about 17% over the past month.

The price sits below both key averages. The 50-day line stands near $0.0000052. The 200-day average runs higher, around $0.0000055. Both lines cap the price, and sellers remain in charge.

RSI reads 39, a weak level that leans toward selling pressure. Momentum is still pointing down. That sets SHIB apart from Dogecoin, which has at least started to show an early turn. SHIB has no such signal yet, so any recovery would start from a weaker base.

SHIB now hugs support near $0.0000048. That floor sits very close, so a small push lower could break it. A drop would expose the next support around $0.0000045.

Resistance caps any bounce near $0.0000051. Above that, $0.0000053 marks the next barrier, still short of the 50-day line. Buyers would need to clear both levels before the trend looks any different.

Two Paths for the Next 72 Hours

Traders should watch two setups through the Fed decision and the Binance delistings.

Bullish: PEPE closes above its first resistance and DOGE reclaims its 50-day line, a sign that money is spreading beyond one meme. That would point to a real rotation across the group. The view fails if PEPE loses its nearest support.
Bearish: SHIB slips under the floor it now hugs, and PEPE fades back to its lower support once the Fed has spoken. That would confirm the bounce stayed narrow. The view fails if DOGE retakes its first resistance.

One Meme Leads, the Rest Still Wait

For now, the charts tell a PEPE story. One large holder lifted one token, while Dogecoin and Shiba Inu stayed pinned under their averages. The wider group has yet to follow.

Rallies built on one whale can unwind just as quickly. The rate decision and the Binance delistings could also strain thin meme liquidity.

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.