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DOGE Powers Meme Coin Resurgence
Dogecoin was the significant driver of the meme market in the last seven days as its price moved alongside Bitcoin (BTC) and other assets. DOGE trades at $0.25, a 10% weekly rise, taking daily trading volumes above $2.7 billion. These figures attracted a cross section of bulls into the meme coin market, with other assets marking the ripple effect.
Although the asset slumped 3% this weekend, key metrics remain dominant over the 30 days. Dogecoin’s exchange reserves continued their downward pattern, showing strong signs of accumulation in addition to rising sentiments. Hourly trading this week shows whales buying the slight dip while crypto analyst Ali Martinez insists that the asset remains in the accumulation phase.
This year, DOGE has seen multiple flash spikes reigniting talks of a possible run to $1. While still a massive jump, it fueled significant community traction. Doge enthusiast KrissPax explained that recent gains in October could spark broader inflows, “Dogecoin starts October up 10% in the first day and a half. Time for a little breather before moving higher. The overall move is still higher lows and higher highs on the larger timeframes,” he added.
Another major factor for Dogecoin’s growth is the adoption of crypto treasury reserves, leading to massive institutional inflows. These reserves, which started with Bitcoin and Ethereum, have stretched to meme coins, improving the ecosystem’s utility.
 
On the other hand, Shiba Inu surged 5.2% in the last seven days while maintaining over $200 million in daily trading volumes. The second-largest meme coin by market cap also experienced waves of whale acquisition, despite Dogecoin gaining more traction.
Furthermore, community favorite PEPE is up 5.5% in the same period while daily patterns remain unchanged. PEPE’s market cap currently stands above $4.1 billion with increasing trading volumes. For most analysts, meme coins are on a rising path alongside the wider crypto market.
Source: https://zycrypto.com/dogecoin-shiba-inu-pepe-lead-meme-coins-above-81-billion-as-bulls-add-pressure/
