Meme Coin Sector Shows Signs of Strength Amid Broader Crypto Market Caution

The crypto market is experiencing a resurgence in the meme coin sector. BeInCrypto analysts have identified three key meme coins to watch this week: Shiba Inu (SHIB), SPX6900 (SPX), and Pepe (PEPE). These tokens are showing signs of growth, with whale flows and technical divergences contributing to their potential.

Shiba Inu (SHIB) is one of the most promising meme coins. Whale wallets have been gradually increasing their holdings since a sharp accumulation phase began around March 13. Since April 1, whales have added another $12.16 million worth of SHIB tokens, pushing total holdings to 773.79 trillion.

The daily chart supports the case for a potential reversal and validates renewed whale interest. A standard bullish divergence flashed on April 2, and SHIB has since bounced before failing at the 0.382 Fibonacci level. The token now trades just above that level, sitting at $0.00000599.

However, meaningful resistance sits at $0.0000064, a level that has capped every recovery attempt since February 18. A close above $0.0000064 would confirm whale-backed strength and open the path toward $0.0000072 and higher.