Shiba Inu (SHIB) rises by 7% during the weekend, defying the wider cryptocurrency market's downward trend.
SHIB/USD hits an intraday peak of $0.000008484, marking its strongest point since June 5.
The breakout of the 14-day relative strength index (RSI) at 62.00 signals bullish momentum for SHIB.
Potential resistance at 68.00 could be the next target for SHIB if the bullish trend continues.
Dogecoin (DOGE) also sees notable gains, hitting a two-month high over the weekend.
DOGE/USD surges 5% to reach a peak of $0.07471, the highest level since May 8.
Traders taking profits cause a slight pullback in DOGE's earlier gains, as the RSI collides with a ceiling at 66.00.
Despite the pullback, overall sentiment remains bullish, with potential for further upward movement.
SHIB has the potential to reach $0.00000900 if the bullish momentum continues.
The positive price movements of SHIB and DOGE highlight the ongoing interest in meme coins within the cryptocurrency market.
Traders and investors continue to monitor the market for further developments and potential trading opportunities.