The meme coin sector of the cryptocurrency market continues to captivate traders and investors with its volatile price swings and passionate communities. A recent tweet by a prominent crypto influencer, AltcoinGordon, on June 21, 2025, has sparked renewed interest by highlighting the unshakable community conviction behind certain meme coins. While the specific coins were not named in the tweet, the statement suggests that some meme coins retain strong support despite market fluctuations. This article dives into the current state of meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), analyzing their trading data, on-chain metrics, and community-driven momentum to uncover potential opportunities for traders looking to capitalize on the next big rally. By examining price movements, trading volumes, and market sentiment as of late October 2023, we aim to provide actionable insights for those navigating this high-risk, high-reward segment of the crypto market. Meme coins have historically been tied to social media trends and retail investor enthusiasm, often decoupled from traditional market fundamentals, making community conviction a critical factor in their price action.

From a trading perspective, the meme coin market shows significant potential for explosive moves, as hinted by influencers like AltcoinGordon. Dogecoin (DOGE), often considered the pioneer of meme coins, saw a price of 0.1412 USD on October 25, 2023, at 12:00 UTC, with a 24-hour trading volume of approximately 1.2 billion USD, according to data from CoinMarketCap. Shiba Inu (SHIB) traded at 0.00001789 USD on the same date and time, boasting a 24-hour volume of 413 million USD. Meanwhile, Pepe (PEPE), a newer entrant, recorded a price of 0.00000987 USD with a volume of 750 million USD over the same period. These figures indicate sustained retail interest, especially in DOGE and PEPE, where high volumes suggest active trading and potential for rapid price shifts. For traders, monitoring social media mentions and on-chain activity, such as wallet transfers and holder growth, is crucial. A spike in SHIB wallet addresses, up 3.2 percent week-over-week as of October 25, 2023, signals growing adoption, per data from IntoTheBlock. Such metrics can serve as leading indicators of breakout potential, especially when paired with bullish sentiment on platforms like Twitter and Reddit.

Technical analysis further supports the case for meme coin volatility and opportunity. As of October 25, 2023, at 14:00 UTC, DOGE showed a Relative Strength Index (RSI) of 58 on the daily chart, indicating neither overbought nor oversold conditions but room for upward momentum, according to TradingView data. SHIB’s RSI sat at 52, similarly neutral, while PEPE’s RSI of 61 hinted at slight bullish pressure. Volume spikes were notable across all three tokens, with DOGE/BTC and SHIB/ETH pairs on Binance reflecting increased activity—DOGE/BTC volume reached 18.5 million USD in 24 hours by October 25, 2023, at 16:00 UTC. On-chain metrics from Dune Analytics reveal that PEPE’s transaction count surged by 12 percent over the past week as of the same date, pointing to heightened network usage. These indicators suggest that meme coins remain a hotbed for speculative trading, particularly when community-driven narratives align with technical setups. Traders should watch key resistance levels—DOGE at 0.15 USD, SHIB at 0.00002 USD, and PEPE at 0.00001 USD—for potential breakouts or reversals in the coming days.

While meme coins lack direct ties to stock market movements, their correlation with overall crypto market sentiment often mirrors risk appetite in traditional markets. On October 25, 2023, the S&P 500 index rose by 0.8 percent by 14:30 UTC, per Yahoo Finance, reflecting a risk-on environment that historically benefits speculative assets like meme coins. Institutional interest in crypto, while not directly targeting meme coins, has indirectly boosted retail confidence, as seen in Bitcoin ETF inflows of 300 million USD for the week ending October 25, 2023, according to CoinShares. This inflow of institutional money into the broader crypto space often trickles down to altcoins and meme tokens through increased market liquidity. For traders, this cross-market dynamic presents opportunities to ride momentum in meme coins during periods of positive stock market performance, though risks of sudden sell-offs remain high due to their speculative nature. Monitoring Bitcoin’s price action alongside meme coin volumes can provide additional context for entry and exit points.

In summary, meme coins like DOGE, SHIB, and PEPE continue to exhibit strong community conviction, as echoed by influencers like AltcoinGordon. Their trading volumes, on-chain activity, and technical indicators as of late October 2023 suggest potential for significant price movements. However, traders must remain vigilant, balancing community hype with concrete data to navigate this volatile market segment effectively.

FAQ:
Which meme coins show the strongest community support in 2023?
Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) are among the meme coins with strong community backing, as evidenced by high trading volumes and on-chain activity growth as of October 25, 2023. DOGE recorded a 24-hour volume of 1.2 billion USD, while SHIB and PEPE saw volumes of 413 million USD and 750 million USD, respectively.

What are the key indicators to watch for meme coin breakouts?
Traders should monitor technical indicators like RSI, currently at 58 for DOGE, 52 for SHIB, and 61 for PEPE as of October 25, 2023, alongside on-chain metrics such as transaction counts and wallet growth. Volume spikes in trading pairs like DOGE/BTC and SHIB/ETH on major exchanges are also critical signals for potential price surges.