The Meme coin sector saw a collective surge today, with DOGE jumping 10.5% to $0.142, PEPE soaring 17-25%, SHIB rising 8%, and second-tier Meme coins like BONK, FLOKI, and MOG generally recording double-digit gains. The entire Meme coin sector reached a market capitalization of $33.8 billion, with a 24-hour trading volume of $5.9 billion, once again making the "Meme Season" narrative the focus of the market. Behind this surge are clear traces of whale funds; in the past two days, whales have cumulatively purchased 480 million DOGE tokens, worth approximately $71.8 million, with three other transactions totaling 220 million tokens, worth approximately $25 million. Technically, DOGE broke through a double bottom pattern, and a 12% increase in open interest indicates increased participation in the derivatives market. However, it's important to be wary, as Meme coin surges are often accompanied by extremely high volatility, especially for smaller market capitalization coins, which may quickly fall back after the narrative fades. This round of gains seems more like a signal of rising risk appetite, indicating that funds may be starting to spread to a wider range of altcoins.
#MEME $DOGE
{future}(DOGEUSDT)